Horse betting is a great way to get in on the action. There are several types of horse bets and each pays out differently. The payouts are often based on the type of bet you choose, the amount of money you are betting, and the type of race you are watching.
There are three main types of horse bets: win, place, and show. Place bets pay out if your horse finishes in the top two, while show bets pay out if your horse places first or third. However, placing and show bets are usually paid out less than the winning odds.
Among the more complicated types of horse bets are exotic bets. These bets are a lot more difficult to figure out, but they have better odds and can provide larger winnings. Some of these wagers include the Superfecta, which is a wager on four horses finishing in the same order.
For example, if you put a $5 straight bet on California Chrome to win, you’ll receive $8 if the horse wins. If you put the same amount on another horse, you’ll receive $8 on the winner and $6 on the second-placer.
Another type of exotic bet is a “wheeling” bet. A wheel bet is a complicated horse bet, as it requires you to pick more than one horse. In addition, there are many combinations you can select, making this wager more complicated.
If you’re unsure of which bet to choose, ask your local bookmaker for advice. They can also tell you whether your bet will pay out or not.