A conservative bettor will look to stake 1-2% of their bankroll per wager. This may seem low to some, but it only takes a short run of losses to wipe out a substantial portion of your bankroll.
The three main bets are WIN, PLACE, and SHOW. Cashing a WIN is obvious, but a PLACE and SHOW bet will also pay you money back if your horse finishes first or second.
Exacta
Horse racing is a popular sport that has been around for hundreds of years. It’s based on two principles: the fastest horses race to the finish line and the players bet against each other. The same principles are used in the game of horse race poker. The goal of the game is to win more money than your opponents do.
To place a wager on the Exacta, you must swipe your Prairie Gold Rewards card at a mutuel window or self-wagering kiosk before the race begins. You then give the teller the dollar amount you wish to bet and state the type of wager you want to make.
You can also bet a box exacta, which allows you to select any combination of horses in the top two positions, as long as they come in exactly in order. This bet will cost more than a straight bet, but it’s a great way to cover a wide range of combinations.
Trifecta
The Trifecta is one of the hardest bets to hit in horse race betting, but it can be an exciting wager if you’re lucky enough to get your three selections over the finish line. Fortunately, there are several ways to improve your chances of hitting this bet, including making a box bet. A Trifecta box bet involves selecting all possible combinations of horses finishing in the first, second, and third position, but the exact order isn’t important.
The key to a successful Trifecta is finding value in the third spot. Unlike Win bets, which pay out based on the number of winning bets in a parimutuel pool, Trifecta payouts are calculated based on the total amount wagered. This can result in smaller payouts than what you might expect. To increase your odds of success, you should try to avoid placing a $1 Trifecta key bet on the most popular horses. The cost of a $1 Trifecta key is calculated by multiplying the number of selections by the number of combinations per horse.
Parlay
Parlays are a great way to maximize your winnings and minimize your losses. They consist of multiple bets in different races and allow you to identify the horses that you feel strongest about. Parlays are not always easy to win, but four or five short-priced winners in a row can quickly turn a modest initial investment into a hefty payout.
The minimum wager for a parlay is $2. To place a parlay, choose ‘PRLY’ or ‘Parlay’ on the Wager Pad and enter your first leg. Then select the Race Number and Bet Type from the dropdown menu. Press ’+’ to add another leg and choose the Race Number and Bet Type again.
Across the board is a multi-bet in which your horse must finish in first, second or third. If it wins, you get win, place and show payouts. Similarly, if it comes in second, you will receive place and show payouts. Finally, if it finishes in third, you will receive show payouts.
Futures bets
Futures bets are wagers on teams and players that can be placed well before the season starts. They are often profitable because they allow customers to lock in high odds that will not change based on team and player performance.
Horse betting odds are displayed in two formats: fractional and decimal. Fractional odds are displayed as four to one and spoken as “four to one.” They are easy to read because they tell you how much you could win if you placed a $1 bet and won. Decimal odds are displayed as 5.00 and are more commonly used in Europe. The odds are multiplied by your stake to calculate the potential return on your bet.
The Show parlay is a popular bet type for newcomers to horse racing. It requires that your horse finish first, second, or third. However, the payout for a Show bet is lower than a Win or Place bet because the pool is divided among three groups of ticket holders.
