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Learn about Odds

Basic Horse Wagering. Learn about Odds. How to Place a Wager. Basic Terminology. Types of Wagers. Take Quiz. How to Place a Wager.

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Learn about Odds

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  1. Basic Horse Wagering Learn about Odds How to Place a Wager Basic Terminology Types of Wagers Take Quiz

  2. How to Place a Wager Placing a horse wager isn’t a difficult task. Most of the time, you place a bet, take your ticket, and tear it up when your bet doesn’t win. However, with a little luck or skill, it is possible to make money betting on horses. The following steps will walk you through the process on placing a wager: State the name of the racetrack. State the number of the race you’re betting. State amount of wager. State the type of wager. (win, place, show, or a combination) State the number of the horse or horses you’re using. Check your ticket before you leave the window. Also, please keep in mind that a wagers can be placed on automated machines throughout the track the same way they are placed at the window

  3. Types of Wagers Wagering on horses has become a pastime of gamblers, horse owners, and the occasional average Joe. Years ago, horse domestication led to the debate of who had the fastest horse; a discussion that could only be settled by pitting horses against one another. Fast-forward a couple thousand years and you have organized horse racing. Today, gambling is a part of horse racing. However, due to declining interest over the years and racetracks had to adjust their strategies by offering different types of wagering. Many of these options now allow both professional and causal gamblers an opportunity to win a money. This not only makes wagering more appealing to the player, but also keeps the racetrack alive. There are two basic types of wagering: straight bets and exotic bets. Exotic Wager Straight Wager

  4. Straight Wager Straight bets: Win, Place, and Show A straight bet refers to three types of wagering: win, place, and show. What do these terms mean? Win-your horse finishes first Place- you bet on a horse to come in either first or second Show- you bet on a horse to finish first, second, or third (also called finishing in the money). Win Place Show

  5. Win Chances of Winning: Average You’re betting that your horse will come in first place. If your horse finishes in first, you get to collect…..It’s that simple.

  6. Place Chances of Winning: Good When you bet on a horse to place the horse must finish first or second. If this happens then you collect. Payouts for place bets are less than win wagers because the place pool (all money wagered to place on a race minus the track takeout) is split between the horse that wins and the horse that finishes second. However, even though payouts are less, you do have the security of being able to cash in if your horse finishes in the top two spots.

  7. Show Chances of Winning: Very Good A show bet is a good wager for beginners and a way for experienced players to enjoy a fun night at the races. Show betting helps players gain experience on how to make a wager while allowing the maximum possibility of cashing a ticket. To place a show bet, go to any betting window or automated machine and place a $2 bet then root for your selection to come in first, second or third.

  8. Exotic Wager Exotic Bets: Qunella, Exacta, Trifecta, Superfecta Exotic bets require you to pick multiple horses in the same race to finish in the first two to four positions. Quinella- you select the first two race finishers in either order. Exacta- you must pick the first two finishers of a race in exact order. Trifecta- you must select the first three finishers in exact order. Superfecta-you must select four finishers in the exact order of a race. Quinella Exacta Trifecta Superfecta

  9. Quinella Chances of Winning: Average In the Quinella, you must pick the horses that finish first and second. Either one can be first and the other one second. The Quinella wagers are entered into their own pool separate from the exacta pool and you can use multiple horses, giving yourself a chance to cash a sizeable ticket and still keeping your investment small. Not all tracks offer the Quinella wager, but all tracks accept the term exacta box where ever the exacta wager is offered which is basically the same bet.

  10. Exacta Chances of Winning: Hard The most common multiple horse wager is the exacta which is when you wager on the first two finishers in exact order, hence the name exacta. In other words, you must pick the horse that wins and the horse that finishes second. Also known at some tracks as the exactor or perfecta, exactas can be attractive to many players because of the possibility for large payoffs. This type of wagering offers an opportunity to make a good profit on a race in which a heavy favorite makes win betting a poor value proposition.

  11. Trifecta Chances of Winning: Very Hard As the prefix tri suggests, you must pick the first three finishing horses in the exact order of their finish (first, second, third) in a trifecta. Connecting two horses and hitting an exacta is much easier than hitting a trifecta but the payout for a trifecta is much greater especially if a long shot horse finishsin the money meaning first, second, or third. Here’s an example: Imagine you have three horses you like in a particular race: “Horse A”, “Horse B”, and “Horse C”. Let’s say you pick a straight trifecta where Horse A wins the race, Horse B places, and Horse C shows. If, instead, the order ends up Horse A (1st), Horse c (2nd), and Horse C (3rd), you still lose the trifecta. The difficult nature of the bet makes it highly unlikely you’re going to win, but a $2 bet also can net big payouts on a win. If that sounds too difficult, then you can also place a trifecta box bet, in which you select three or more horses to win, place, and show. This gives you a better chance of cashing a ticket, but usually costs more to make a bet. This is discussed in the wager odds section.

  12. Superfecta Chances of Winning: Extremely Hard • In order to hit a superfecta you must pick the first four horses in the order of their finish. In other words, you must pick the horse that wins, the horse that finishes second, third, and fourth. The superfecta is for a seasoned professional, and is very difficult to hit. Just know that this bet is in the high risk category. • Most tracks will allow you to bet $1 superfectas. Here are the costs of some basic $1 superfecta plays displayed with letters rather than numbers to allow you to follow along easier: • A / BC / BCDEF / BCDEF (24 combinations) $24 • AB / ABC / ABCD / ABCDE (16 combinations): $16 • AB / ABC / ABCD / ABCDEF (24 combinations): $24 • AB / ABC / ABCD / ABCDEFG (32 combinations): $32 • ABC / ABC / ABCDE / ABCDE (36 combinations): $36

  13. Odds Betting on horse racing can be very intimidating for some beginners that don't understand how it all works and what the numbers mean, but once you learn the basics of understanding horse racing odds it is really very simple. Understanding odds is a vital component when wagering on horse racing, because it unlocks important information that anyone placing a bet needs to know. This section gives you a little background on odds to help improve your understanding.

  14. Simple Odds The first thing you need to know about wagering odds is how to read the prices. Horse racing odds are offered in two different ways at the track depending on where you look. The first way is as simple odds - 4/1, for example. Just as in other sports, that means that you would make a profit of four dollars for every dollar bet. Please keep in mind that minimum bet at almost all tracks is $2, so your profit will be at least double the listed odds.

  15. Payout Odds The second way that odds will be offered is as a payout on a $2 bet. These are the odds that are listed on the big tote board on the track as well as in other places. If the listed price is $10.40 then that means that you will make that much on a $2 bet if your horse wins. You can multiply that by any amount to figure out the payout if you bet a different amount - a $10 win bet would pay $104.00, for example. The chart on the next page displays an example of payouts on a $2.

  16. Wager Odds Straight Bet You’re betting on horse races and want to know how much your winning bet will give you. To compute your $2 win price, take the odds of your horse and multiply the first number by 2, divide that by the second number, and then add $2. For example: A $2 bet on a horse with the odds of 4/5 would be figured by multiplying 4*2/5= $1.6. The payout shown on the chart is $3.60. The $3.60 is a combination of the winnings ($1.6) and the initial bet of $2

  17. Horse Racing Terminology Miscellaneous Paddock Post Position Purse Scratch Simulcast Weight Winners Circle Wire Wagering Across the Board Box Key Horse Pool Probable Payoffs Wheel Track Conditions Fast Wet Fast Good Muddy Off Track Sloppy Slow Miscellaneous Call to Post Dead Heat Field Furlong Handicapping Morning Line Pacesetter Please select the term you are interested in. The selection will take you a to a list of definitions for that column.

  18. Horse Racing Terminology Wagering Across the Board - A win, place, and show bet on the same horse. Box- To use designated horses in all positions (first, second, third, fourth), depending if the bet is an exacta, quinella, trifecta, or superfecta, of a multiple horse wager. Key Horse - To use a horse in one spot (first, second, third) in a vertical, multiple horse wager. Pool - The total of all money bet on a specific wager type. Probable Payoffs - The current exotic wager payoffs, from all possible winning horse combinations, from active betting pools. Wheel- A style of betting where a horse is used with all other horses in a twohorse or two-race exotic wager.; also, a horse that pivots sharply and unexpectedly with a rider aboard.

  19. Horse Racing Terminology Track Conditions Fast - Term describing a dry, main dirt track in optimum condition. Wet Fast - A track with a firm base, but a wet surface, due to recent rain. Good - A track condition between fast and slow. There is generally a significant amount of water in a good track. Muddy - Describes a mushy, drying out main track that doesn't show surface water like a sloppy track. Off Track - Any track that is not fast. Sloppy - A very wet racetrack with standing water visible to the naked eye. Slow - A slow track is wet on both the surface and base.

  20. Horse Racing Terminology Miscellaneous Horse Racing Terms Call to Post - The bugle call used to signal the horses onto the racetrack. Dead Heat - When two or more horses finish on exact, even terms. A photo finish camera substantiates the tie. Field - All of the horses in a single race. Furlong- One-eighth of a mile; also called a panel. Handicapping - The art/science of analyzing information found in the past performances for the purpose of determining the relative ability of horses in a race. Morning Line - The odds given to horses in a race prior to the start of betting. It's a prediction how the linemaker thinks the public will bet. Pacesetter - The horse that is running in front during a race.

  21. Horse Racing Terminology Miscellaneous Horse Racing Terms Paddock - The saddling enclosure, which is in full view of the public Post Position - The position in the starting gate where a horse begins the race. Purse - Money paid to the top 5 finishers in a race. Scratch - The removal of a horse from a race at any point prior to the start. Simulcast - A simultaneous live television transmission of a race to other tracks, off-track betting offices, or other betting outlets. Weight - The assigned load a horse carries in a race, including the jockey, saddle, and equipment. Winners Circle - An enclosure near the track where the winning horse and jockey go to have their picture taken with the horse's owner and trainer. Wire - The finish line.

  22. Quiz This quiz will cover some of the material presented in the app. Please choose the best response based as the material is presented. Begin Quiz

  23. Question 1 The list on the left represents 5 horses in a race and their corresponding odds. If you were to place a $4 WIN wager on horse number 3 (Rain), what would it pay if it comes in first? $4 $24 $48

  24. Question 1 Correct. The chart on the right represents a $2 wager so doubling the wager ($4) would also double the payout to $48. $48 Continue to next question

  25. Question 1 Incorrect. The chart on the right represents a $2 wager so doubling the wager ($4) would also double the payout to $48. $48 Continue to next question

  26. Question 2 1.Afterglow 2.Napoleon 3. Rain 1.Afterglow 2.Sam I am 3. Top Prize The chart above shows the results of a race. What 3 horses should have been chosen in order to hit a trifecta? 1.Sam I am 2.Afterglow 3. Rain

  27. Question 2 Correct. It doesn’t matter what number a horse is or the odds. In order for you to hit a trifecta you must pick the first three finishing horses in the exact order of their finish (first, second, third) 1.Sam I am 2.Afterglow 3. Rain Continue to next question

  28. Question 2 Incorrect. It doesn’t matter what number a horse is or the odds. In order for you to hit a trifecta you must pick the first three finishing horses in the exact order of their finish (first, second, third). In this case: 1.Sam I am 2.Afterglow 3. Rain Continue to next question

  29. Question 3 Which of these 3 are the most difficult to hit? Win Place Show

  30. Question 3 Which of these 3 are the most difficult to hit? Win Correct. In order to hit a win bet your horse must finish first. In contrast a place bet can finish in the top 2 or a show bet can finish in the top 3. Continue to next question

  31. Question 3 Which of these 3 are the most difficult to hit? Place Incorrect. A bet is more difficult to hit because your horse MUST FINISH FIRST and only first. A place bet is easier because your horse has two chances to hit; first or second. Win Continue to next question

  32. Question 3 Which of these 3 are the most difficult to hit? Show Incorrect. A bet is more difficult to hit because your horse MUST FINISH FIRST and only first. A show bet is easier because your horse has three chances to hit; first, second, or third. Win Continue to next question

  33. Question 4 Quinella What is the most common multiple wager? Exacta Trifecta Superfecta

  34. Question 4 Correct. The most common multiple horse wager is the exacta which is when you wager on the first two finishers in exact order, hence the name exacta. Exacta Continue to next question

  35. Question 4 Incorrect. The most common multiple horse wager is the exacta which is when you wager on the first two finishers in exact order, hence the name exacta. Exacta Continue to next question

  36. Question 5 Please select the first step of How to Place a Wager. State the number of the race you’re betting. Check your ticket before you leave the window. State the number of the horse or horses you’re using. State the name of the racetrack. State amount of wager. State the type of wager. (win, place, show, or a combination)

  37. Question 5 Incorrect. Please try again. State the number of the race you’re betting. Check your ticket before you leave the window. State the number of the horse or horses you’re using. State the name of the racetrack. State amount of wager. State the type of wager. (win, place, show, or a combination)

  38. Question 5 Incorrect. Please try again. State the number of the race you’re betting. Check your ticket before you leave the window. State the number of the horse or horses you’re using. State the name of the racetrack. State amount of wager. State the type of wager. (win, place, show, or a combination)

  39. Question 5 Correct. Please select step 2. 1. State the name of the racetrack. State the number of the race you’re betting. Check your ticket before you leave the window. State the number of the horse or horses you’re using. State amount of wager. State the type of wager. (win, place, show, or a combination)

  40. Question 5 Incorrect. Please try again. 1. State the name of the racetrack. State the number of the race you’re betting. Check your ticket before you leave the window. State the number of the horse or horses you’re using. State amount of wager. State the type of wager. (win, place, show, or a combination)

  41. Question 5 Incorrect. Please try again. 1. State the name of the racetrack. State the number of the race you’re betting. Check your ticket before you leave the window. State the number of the horse or horses you’re using. State amount of wager. State the type of wager. (win, place, show, or a combination)

  42. Question 5 Correct. Please select step 3. 1. State the name of the racetrack. 2. State the number of the race you’re betting. Check your ticket before you leave the window. State the number of the horse or horses you’re using. State amount of wager. State the type of wager. (win, place, show, or a combination)

  43. Question 5 Incorrect. Please try again. 1. State the name of the racetrack. 2. State the number of the race you’re betting. Check your ticket before you leave the window. State the number of the horse or horses you’re using. State amount of wager. State the type of wager. (win, place, show, or a combination)

  44. Question 5 Incorrect. Please try again. 1. State the name of the racetrack. 2. State the number of the race you’re betting. Check your ticket before you leave the window. State the number of the horse or horses you’re using. State amount of wager. State the type of wager. (win, place, show, or a combination)

  45. Question 5 Correct. Please select step 4. 1. State the name of the racetrack. 2. State the number of the race you’re betting. 3. State amount of wager. Check your ticket before you leave the window. State the number of the horse or horses you’re using. State the type of wager. (win, place, show, or a combination)

  46. Question 5 Incorrect. Please try again. 1. State the name of the racetrack. 2. State the number of the race you’re betting. 3. State amount of wager. Check your ticket before you leave the window. State the number of the horse or horses you’re using. State the type of wager. (win, place, show, or a combination)

  47. Question 5 Incorrect. Please try again. 1. State the name of the racetrack. 2. State the number of the race you’re betting. 3. State amount of wager. Check your ticket before you leave the window. State the number of the horse or horses you’re using. State the type of wager. (win, place, show, or a combination)

  48. Question 5 • Correct. Please select step 5. • 1. State the name of the racetrack. • 2. State the number of the race you’re betting. • 3. State amount of wager. • 4. State the type of wager. (win, place, show, or a combination) • Check your ticket before you leave the window. • State the number of the horse or horses you’re using.

  49. Question 5 Incorrect. Please try again. 1. State the name of the racetrack. 2. State the number of the race you’re betting. 3. State amount of wager. 4. State the type of wager. (win, place, show, or a combination) Check your ticket before you leave the window. State the number of the horse or horses you’re using.

  50. Question 5 Incorrect. Please try again. 1. State the name of the racetrack. 2. State the number of the race you’re betting. 3. State amount of wager. 4. State the type of wager. (win, place, show, or a combination) Check your ticket before you leave the window. State the number of the horse or horses you’re using.

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