Horse Betting Guide For The Newcomer Articles | Horse Betting

By: Richard Bleuze

Betting the horses online is not as differcult as many think.  It just takes a little time and experience. The following information is designed to assist the casual race fan and the newcomer with the terms and strategies used in horseracing.

Pari-Mutuel Betting On Horses Online

A term with its origins in France, pari-mutuel refers to the form of betting utilized in the horse racing industry.  Simply stated, it means bettors play against each other, rather than the house.  The track merely "handles" the bet, computes the odds based on the amounts wagered on the individual horses, and of course pays off the winners according to those odds.   The house acts as a broker - taking a certain percentage.

Pari-mutuel betting is truly an exciting and fun way in which the fan actually participates in the sport of horse racing.   Unlike most casino games, where the bettor plays against "the house", horse racing online literally allows one to "get involved".

Win, Place, Show Bets, The Simplest Wagers

Win-- Collect if your horse finishes first. (All examples are based on a $2 wager)
Place -- Collect if your horse finishes first or second.
Show -- Collect if your horse finishes first, second, or third.

Example: You bet $2 on horse # 4 to place.  You collect the place payoff if #46 finishes first or second. Cost: $2

One horse may be bet to Win, Place, or Show.  If # 4 finishes first, you collect the Win, Place and Show payoffs.  If # 4 comes in third, you collect only the Show payoff. Cost $6

Across The Board Bets

Quinella Bets

A popular type of wager that allows the player to collect more by beating higher odds.  In this case, two horses are picked to finish first and second, IN EITHER ORDER.

Example: Bettor picks the # 4 horse & # 3 horse to finish first and second.  Bettor collects if either comes in first with the other finishing second; I.e. 4-3  or 3-4. Cost: $2.

Another popular bet, winning Exacta tickets often pay a good deal more than Quinellas.  In this case, the player chooses TWO horses to finish FIRST and SECOND in EXACT ORDER.

Exacta Bets

Exacta Example: Bet horse # 4 to finish first and # 8 to finish second in exact order.  Collect if 4 wins and 8 is second. Cost: $2

Involving three horses, the Trifecta can pay large dividends by correctly picking the first three finishers in exact order.

Trifecta Wagers

Example: Bettor picks horses # 4, # 6, and # 3 to come in first, second, and third in that exact order to finish. Cost $2.

Boxing is a betting strategy used to increase the number of horses involved in a variety of wagers, such as in Quinellas, Exactas, and Trifectas.  By boxing, the player also increases the chances of  a winning ticket.  Of course, boxing also costs more and the cost increases with each additional horse included in the wager.

Boxing

Quinella Box Example: Box #5, #2, and #7. Bettor collects Quinella payoff on the following combinations: 5-2, 5-7, 2-5, 2-7, 7-5, 7-2. Cost: $6.

Quinella Box Example: Box # 1, # 3, #7, and # 9. Bettor collects Quinella payoff on the following combinations: 1-3, 1-7, 1-9, 3-1, 3-7, 3-9, 7-1, 7-3, 7-9, 9-1, 9-3, 9-7. Cost-$12.

Exacta Box Example: Boxing an Exacta is like betting a "straight" Quinella, in that the two chosen horses must come in first and second, but not in exact order. Box # 6 and # 9, collect Exacta payoff for 6-9, or 9-6. Cost: $4.

Exacta Box Example: Box #1, #3, #4, #6, #8, #10. Collect Exacta payoff for any combination of included horses. Cost: $60.

Trifecta Box Example: Box # 1, # 6, # 8. Collect Trifecta payoff if any combination of the three finish first, second, and third in any order. Cost: $12.

Trifecta Box Example: Box # 1, # 6, # 7, # 11. Collect if any three finish first, second, and third in any order; i.e. 1-11-7 or 6-1-11, etc. Cost: $48.

Like Boxing, this strategy can include more wagering interests, or horses, in a bet. It can also increase one's chances of winning.  However, when Wheeling, or Keying, the bettor typically "Wheels", or "Keys" a particular horse in a certain finishing position, normally first or second. Wheeling is usually used when playing Exactas and Trifectas.

For example, in an Exacta, the player may like # 4 to finish first.  He would then Key # 4 on top of a combination of other horses.  That horse, # 4 would have to finish first and one of other choices second for the bettor to collect.

Exacta Wheel Example: Player Keys # 5 on top (to win), and #'s 1, 2, and 4 in second. Bettor collects if # 5 wins the race, and any of the others finish second. Cost: $6.

Exacta Wheel Example: Key # 4 on top, and #'s 2, 5, 6, 7, 10, and 11 in second.  Collect if 4 finishes first and any of the others places. Cost: $12.

Trifecta Wheel Example: Key # 7 to win, #'s 1, 3, 4 to place, and #'s 1, 3, 4 to show. Collect if # 7 wins, and any combination of the others place and show, i.e. 7/1/3 or 7/1/4 or 7/3/1, etc.. Cost: $6.

"Wheeling" or "Keying"

Figuring the cost of your exotic bet is simpler than you might think.  The following formulas are to help you take the guesswork out of a sometimes confusing task.  They are all based on a $2 wager, however many online horse racing tracks offer a $1 bet.

Computing the Cost of Your Wager

Quinellla Box

Formula: Number of horses boxed X the next lowest number
Example: Box 4 horses: 4 x 3 = $12.00
Example: Box 6 horses: 6 x 5 = $30.00

Quinellla Wheel

Formula: Number of horses wheeled X 2
Example: Wheel 1 horse with 4 other horses: 4 x 2 = $8.00
Example: Wheel 1 horse with 7 other horses: 7 x 2 = $14.00

Exacta Box

Formula: Number of horses boxed X next lowest number X 2
Example: Box 4 horses: 4 x 3 x 2 = $24.00
Example: Box 6 horses: 6 x 5 x 2 = $60.00

Exacta Wheel

Formula: Number of horses wheeled X 2
Example: Wheel 1 horse with 4 other horses: 4 x 2 = $8.00
Example: Wheel 1 horse with 8 other horses: 8 x 2 = $16.00

Trifecta Box

Formula: Number of horses X next lowest number X next lowest no.
Example: Box 4 horses: 4 x 3 x 2 = $24.00
Examples: Box 6 horses: 6 x 5 x 4 = $120.00

Trifecta Wheel

Formula: Number of horses wheeled X next lowest number
Example: Wheel 1 horse with 4 other horses: 4 x 3 = $12.00
Example: Wheel 1 horse with 8 other horses: 8 x 7 = $56.00