Horse betting involves wagering on the result of a race. There are several types of wagers available. Some of them are:
The win bet is the most common type of bet. This involves picking a horse to finish first. If the horse wins, you’ll be paid out for your stake. But if the horse does not place, you’ll lose the bet.
Place bets are also popular. These bets are placed on a horse to finish first or second. It’s considered safer to make a place bet than a win bet. However, the payout is lower than with a win bet.
If you don’t want to focus on one horse, you can use a wheel bet. This bet spreads your money across a number of horses.
A superfecta bet is another option. This type of bet bets on a horse to win, place, and show. To make this bet, you must pick the winner of each race in a specific order.
For example, if you bet $5 on a horse to win, the horse will pay you $20. However, if you bet $10 on a horse to place, you will only receive $50. You can also build a trifecta bet with multiple horses.
Trifectas pay out when you bet on the exact combination of three horses. For example, you could bet $1 on a horse to win, $2 on a horse to place, and $3 on a horse to show.
An each-way bet is also an option. This bet pays you if your horse finishes in the top two or three. Unlike a win bet, this type of bet is not as easy to calculate.