Betting 101
Types of Horse Racing Bets
Horse Bets and Calculating Costs
When getting started with online horse betting, there are two thing you must know: what types of horse bets are there and how to calculate what each bet will cost you and what your potential payoff could be.
The basic types of horse racing bets are of course win, place and show. A win bet means your horse must win, a place bet means it must finish first or second and a show bet means it must be first, second or third though of course this means a lower payout.
Next is understanding horse racing odds. Horse odds are not exact and can be changed as more money is added to the pool and different horses are bet on. The final total at go time takes into account wagers placed everywhere including at simulcast tracks and off-track betting locations.
This is the pari-mutuel system in which all the money is pooled, the ‘take’ is then extracted which is a percentage of the money sort of like a vig which pays track expenses, purse money for the race, taxes and other sundries. The money left over is then shared out between all players holding winning tickets.
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Horse Betting Calculator
Within a pari-mutuel pool, when betting online you will usually see the program number given to a horse and you use this to bet it. If however you see #2 and #2A then betting either of these horses means you are essentially wagering on both.
These are what is known in the game as an ‘entry’ or horses that are ‘coupled’, something that occurs when more than one horse in the field has the same ownership and/or is trained by the same trainer. Different states and territories have different rules on this and in some cases horses are in fact allowed to run as separate entities under their own program number for wagering purposes even when they have the same connections.
On some occasions you will see ‘F’ next to their program number. This stands for ‘field’ and is simply another word for ‘entry’ (see our glossary of horse betting terms). When coupled horses have these letters to their name you are betting them all, so if #12F, 13F, 14F are all in the field and you bet 12F but 14F wins, you will still be paid out under the coupling rules.
This can work to your advantage if, say a horse set to go off at short odds as favorite loses but it’s stable mate wins at least you are paid. The disadvantage is that you may really liked a horse that should have been a long shot, but because it is coupled with a shorty who may go off favorite the odds you get for this horse may be seriously undervalued.
Horse Betting Win Odds and their Approximate Payoffs
The payoffs on straight win bets are your profit, based on the odds x your stake, plus the return of your stake money. So, a $10 bet on a successful 4-1 shot means you would receive $50 in total - $10 x 4 plus your $10 stake.
These basic horse odds are easy to work out. All you need to do is divide the first number in the odds by the second then times it by your stake. So a 9-2 shot is in effect a 4½ to 1 bet (9 divided by 2).
Horse Racing Odds Calculator
Here is an approximate guide to what you can expect to get back for a successful win bet at various common odds to a standard minimum $2 stake:
| Odds | Payoff |
|---|---|
| 1-5 | $2.40 |
| 2-5 | $2.80 |
| 1-2 | $3.00 |
| 3-5 | $3.20 |
| 4-5 | $3.60 |
| EVEN | $4.00 |
| 6-5 | $4.40 |
| 7-5 | $4.80 |
| 3-2 | $5.00 |
| 8-5 | $5.20 |
| 9-5 | $5.60 |
| 2-1 | $6.00 |
| 5-2 | $7.00 |
| 3-1 | $8.00 |
| 7-2 | $9.00 |
| 4-1 | $10.00 |
| 9-2 | $11.00 |
| 5-1 | $12.00 |
| 6-1 | $14.00 |
| 10-1 | $22.00 |
| 12-1 | $26.00 |
| 15-1 | $32.00 |
| 20-1 | $42.00 |
| 50-1 | $102.00 |
| 60-1 | $122.00 |
| 99-1 | $200.00 |
We’ve stated $200+ at 99-1 as most boards only reach a maximum of 99-1 but in reality your chosen horse could be way more than that, the final figure being released after the result is made official. Betting online however means you can see accurate, up to the minute odds for every horse in the field.
Horse Racing Betting Types Terminology
Below is a list of horse racing betting terminology to provide insight on how you can use each of these and what they cost, but it's important at the beginning just to understand the basics of what each bet is called and roughly what it involves.
Straight Bets
Win: Your horse must win for the bet to payoff.
Place: Your horse must finish first or second for it to be successful.
Show: Your horse must finish first, second or third.
Naturally out of these three straight bets the win bet is the most difficult to get right so generally pays off more, while betting a hot favorite to show will mean a very low payout given that the probability of this horse running in the first three is very high.
Combination Straight Bets
Across the Board (win/place/show): This is a combination of all three wagers, so if you bet a horse this way you are betting that it will win place and show. If the horse wins, you collect on all three bets. If it is second, you collect on place and show and if it is third you collect on only the show part of the bet.
Win/Place or Place/Show: Simply a combination of win & place or place & show. There are two combinations, so a $2 bet would cost $4 in total.
Exotic Single Bets
Exacta: Correctly picking the horses to finish in 1st and 2nd. Can either be done as a straight bet or box bet (see Exotic Combinations below)
Trifecta: Correctly picking the horses to finish in 1st, 2nd and 3rd. Can either be done as a straight bet, box bet, or key bet (see Exotic Combinations below)
Superfecta: Correctly picking the horses to finish in 1st, 2nd, 3rd, and 4th. Can either be done as a straight bet, box bet, or key bet (see Exotic Combinations below)
Omni: You pick two horses, and if they finish in the top three in any order you win. This bet is available on select international tracks in France, United Kingdom, South Africa, and Hong Kong.
Trio: You pick the first three horses, and if they finish in the top three in any order you win. This bet is available on select international tracks in France.
Exotic Multiple Bets
Daily Double/Pick 3/Pick 4/Pick 6/Pick All: These bets involve choosing the winners of consecutive races. More than one horse can be added into each leg of the bet, multiplying the cost.
Exotic Combinations
Straight: A wager with only one combination, i.e. one horse in a win bet or just two horses in an Exacta.
Box: Boxing a bet means covering all available combinations, so in an Exacta there are 2 possibilities, a Trifecta has 6 and so on. You multiply the cost of your unit stake appropriately.
Key: Keying a horse means taking it on top by itself and adding others in behind it. So a Trifecta Key means choosing one horse you definitely think will win then any combination of other horses to fill second and third place behind it.
Wheel and Partial Wheel: A Wheel means to take the entire field in one leg of a wager and a partial wheel is taking a given number of horses in one leg of a wager.
How to Calculate How Much a Horse Bet Will Cost
Below we’ve shared some information on the various types of wagers available to you and how to calculate what a horse bet will cost. You need to know how to calculate horse bets or at least have this guide handy when you place a bet. Unlike ‘straight’ bets involving only one horse, when you have a more exotic wager you are essentially placing two or more bets on one ticket and so the cost is higher (though so are the potential rewards). Below you will find out how to calculate the costs of some common horse betting types including exacta bets, trifecta betting as well as some advanced bets like a superfecta and a pick 6.
Daily Double Costs
The Daily Double is a really popular horse racing bet in which you are tasked with choosing the winner of two consecutive, pre-selected races on a racecard.
In a $2 Daily Double in which you’ve selected horse 5 in leg 1 and horse 3 in leg 2 for example, this is just one bet so the total cost is $2.
You can choose to place a Daily Double Part Wheel, increasing the number of horses to give yourself a better chance of success. So, if you bet horses 1, 5 & 9 in the first leg and maybe numbers 6 & 10 in the second, the cost will be $12.00. To work this out, always simply multiply the number of horses in your first leg by the number in the second and then multiply that by your unit stake cost, in this case $2 (3 x 2 = 6 x $2 = $12).
Exacta Costs
This bet is also sometimes known as a Perfecta, depending upon which track you are betting at, and it involves choosing the first and second horses home in the correct order.
This sort of bet is not as simple as it sounds as so often in horse racing even when a hot favorite wins there can be a surprise outsider filling second place, though the harder the bet is to get right the bigger the payoffs will be.
Once again you can play an Exacta Part Wheel in which you choose more horses to increase your chances of success, but always remember that by doing this you are also increasing the total cost of the bet.
A typical $2 Exacta is just one combination; your chosen two horses finishing first and second in the race so the total cost is $2. If however you believe you’re sure of one horse winning but unsure of what may finish second, you may throw in some extras.
Betting horse 1 with horses 5 & 7 for example would cost $4. This is because winning combinations 1 & 5 or 1 & 7 would do = 2 bets mean twice the stake. Putting horse 1 with 5, 7, 8 & 10 would cost a total of $8 as there are now four possible combinations and so on.
This is a technique some bettors use when they firmly believe one particular horse will win the race but the field is wide open for second place. Many players wagered this way on Justify in both the Preakness and the Belmont Stakes in 2018 due to him being perceived as a lock while the rest of the field were fighting to get into the money.
You can switch this bet around, naming various horses first and a solid choice for second but this is risky. This means you’re effectively saying you don’t know who will win but you are pretty sure one particular horse will finish second, though you simply work the combinations out the same way.
Exacta Box Costs
‘Boxing’ any bet means you are covering the available combinations, in the case of the Exacta that means choosing two horses as you usually would but this time they can finish first and second in either order, a solid bet when there are two clear horses against the field with better ability.
A basic $2 Exacta Box costs $4 in total as there are two combinations, i.e. horses 4 & 6 in a box means the finishing order could be 4-6 or 6-4.
Once again you can choose more horses if you wish then simply calculate the cost as normal, so betting horses 4, 6 & 10 in an Exacta Box means the finishing order could be 4-6, 4-10, 6-4, 6-10, 10-4 or 10-6 meaning there are now 6 combinations meaning a total bet of $12.
This is OK if some of your selections are going off at big odds, meaning even paying out $12 to place the bet may return a profit depending on which of your horses finish first and second, if any.
Quinella Costs
In terms of how you select this bet, a Quinella is essentially an Exacta Box under a different name. You choose two horses to finish first and second in either order but without the unit stake having to change or be worked out, i.e. a $2 Quinella costs the same as a $1 Exacta Box.
In theory the payoff should be the same, but as these are pool bets it doesn’t always work out this way. Some sharp-eyed horseplayers keep an eye out on the probable payoffs for both the Quinella and Exacta Box just to see if there is any slight advantage to one or the other before deciding which one to place.
Usually, the basic rule is that the Quinella often pays a lot more than a boxed Exacta if the favorite doesn’t win. To work out the cost, use the same calculations as the Exacta Box and the divide the total in half.
Trifecta Costs
This bet is like the Exacta but with one extra horse, so a basic Trifecta means selecting three horses in a race to finish first, second and third in the exact order. As there is one combination involved here, a $2 Exacta would cost a total of $2 but there is the option of placing a Trifecta Key.
The Trifecta Key means nominating one of your horses to finish first but the other two to finish second and third in any order and of course you can add more horses in behind to this to increase your chances of success.
So, a $1 Trifecta Key with horse number 2 nominated as the winner and runners 5, 6 & 9 to fill the other two positions would mean 6 combinations, therefore a cost of $6 and so on.
These days with bets such as this, wagering online will mean your combinations and your potential total cost will be worked out for you so simply enter the horses you wish to bet and a unit stake to see your total bet amount appear before you click go.
Much like the Exacta, you can place a Trifecta Part Wheel whereby you can have one or more horses in first position, one or more in second and one or more in third.
So if you’re unsure of the winner, you may go horses 2 & 4 with 1, 2, 4 & 5 and 2, 4, 5, 6, & 8 meaning 24 combinations and a total stake of $24 to a $1 unit stake.
The amount of horses you nominate for first, second or third is up to you so to figure out the cost simply multiply the number of horses in first position by the number in second minus 1, multiplied by the number of horses in third position minus 2.
Trifecta Box Costs
As explained with the Exacta, you can box your Trifecta meaning that your three nominated horses can simply finish first, second and third in any order and you’ll be paid out.
Choosing horses 2, 4 & 5 in a Trifecta Box means the successful winning combination could be 2-4-5, 2-5-4, 4-2-5, 4-5-2, 5-2-4 or 5-4-2 and therefore there are 6 combinations in this case, meaning a $1 Trifecta Box would cost a total of $6.
Choosing four horses means 24 combinations, 5 horses is 60 combinations and so on, times by your unit stake. Watch out for the total cost in this case, as a 5-horse $5 Trifecta Box would cost $300!
Superfecta Costs
This is where you need to be either a real pro, a well-informed insider or just very lucky! The Superfecta involves you picking the first four horses to finish in the exact order. As the basic bet is one combination, a $2 Superfecta costs just that, $2.
You can place a Superfecta Part Wheel under the same rules as above or a Superfecta Key meaning you can nominate one horse as your "sure thing" combined with a number of horses to finish second, third and fourth.
If you place a $1 Superfecta Key with horse 5 nominated first along with horses 2, 4 & 8 then you have 6 combinations for a total of $6. This is because horse #5 has to win, so the only possibilities are 5-2-4-8, 5-2-8-4, 5-4-2-8, 5-4-8-2, 5-8-2-4 and 5-8-4-2. The more horses you nominate, the more combinations there are and the more you will pay to place the wager down.
You can play a Superfecta Part Wheel with one or more combinations in each of the four positions using the same math as in the Trifecta Part Wheel but, given the huge combinations often involved with this bet, some tracks may offer the Dime Superfecta meaning your unit stake can be just 10 cents. In this case, a $0.10 bet with 72 combinations would cost just $7.20.
Superfecta Box Costs
Boxing your Superfecta of course means a simple bet, but with lots of combinations depending on how many horses you choose to include.
A normal $1 Superfecta Box with four horses means a $24 total cost. Four horses to finish 1-2-3-4 in all available combinations has 24 possibilities and this quickly ramps up the more horses you add. Throwing in a fifth means 120 combinations and a sixth would be 360 so keep an eye on that overall ticket cost.
Pick 3 Costs
Placing a Pick 3 wager means picking the winner of three consecutive races. Choosing only one horse in each race means naturally one bet, so a $2 Pick 3 is exactly that cost, $2. You are allowed once again to choose multiple horses though so as usual simply multiply the number of horses in each leg times by your unit stake.
Betting a Pick 3 Part Wheel then with horse 2 in the first leg, horses 1 & 7 in the second and then 2, 6 & 8 in the third would mean 1 x 2 x 3 for a total of 6 combinations and a cost of six times your stake, a $1 bet in this case costing a total of $6.
Pick 4 Costs
Much like above, the Pick 4 means betting in consecutive races but this time four of them. The math is exactly the same, so horses 2 & 5 in leg one, then 3, 6 & 7 in leg two, horses 1, 4 & 8 in leg three and finally runners 1, 5 & 10 in the final leg would mean 2 x 3 x 3 x 3 for 54 combinations or a total bet of $54 for a $1 Pick 4.
True it can be an expensive bet, but getting it right just that one time can mean a very attractive payoff.
Pick 6 Costs
You guessed it, six races in a row. This is an incredibly difficult bet to get right but more pertinently the combinations involved are massive if you decide to choose multiple horses in each leg.
The Pick 6 is a pool in which will be involved should there be no winner on a given day, with all the money in the pool added onto whatever is put in the following day or at the following meet with consolation costs taken out.
The consolation payoffs involved in the Pick 6 are for those having the most winners out of six if nobody hits the Pick 6 jackpot and there is even a consolation for hitting 5 out of 6 winners when the Pick 6 has been won by someone.
The cost can really spiral here, so imagine playing a Pick 6 with three horses in each leg then the combination would be 3 x 3 x 3 x 3 x 3 x 3 for a total of 729 possibilities and therefore a total cost of $729 to a $1 unit stake.
Pick All Costs
Rather than having a number assigned as above, these bets are known as Pick All’s as it depends on how many races there are at a given track on a given day. These bets are mostly offered in California and it means if there are 9 races you need to pick the winner of all 9, 12 races you bet 12 horses and so on.
The math remains the same and even choosing only two horses in each leg of a 10-race Pick All would mean 512 combinations so as always, watch that ticket price!
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When getting started with online horse betting, there are two thing you must know: what types of horse bets are there and how to calculate what each bet will cost you and what your potential payoff could be.
The basic types of horse racing bets are of course win, place and show. A win bet means your horse must win, a place bet means it must finish first or second and a show bet means it must be first, second or third though of course this means a lower payout.
Next is understanding horse racing odds. Horse odds are not exact and can be changed as more money is added to the pool and different horses are bet on. The final total at go time takes into account wagers placed everywhere including at simulcast tracks and off-track betting locations.
This is the pari-mutuel system in which all the money is pooled, the ‘take’ is then extracted which is a percentage of the money sort of like a vig which pays track expenses, purse money for the race, taxes and other sundries. The money left over is then shared out between all players holding winning tickets.
The Future of Horse Racing Is Here! TVG Is now FanDuel Racing – Join Us on This Exciting Journey for Bigger Thrills, Better Features, and All the Action You Love!
Horse Betting Calculator
Within a pari-mutuel pool, when betting online you will usually see the program number given to a horse and you use this to bet it. If however you see #2 and #2A then betting either of these horses means you are essentially wagering on both.
These are what is known in the game as an ‘entry’ or horses that are ‘coupled’, something that occurs when more than one horse in the field has the same ownership and/or is trained by the same trainer. Different states and territories have different rules on this and in some cases horses are in fact allowed to run as separate entities under their own program number for wagering purposes even when they have the same connections.
On some occasions you will see ‘F’ next to their program number. This stands for ‘field’ and is simply another word for ‘entry’ (see our glossary of horse betting terms). When coupled horses have these letters to their name you are betting them all, so if #12F, 13F, 14F are all in the field and you bet 12F but 14F wins, you will still be paid out under the coupling rules.
This can work to your advantage if, say a horse set to go off at short odds as favorite loses but it’s stable mate wins at least you are paid. The disadvantage is that you may really liked a horse that should have been a long shot, but because it is coupled with a shorty who may go off favorite the odds you get for this horse may be seriously undervalued.
Horse Betting Win Odds and their Approximate Payoffs
The payoffs on straight win bets are your profit, based on the odds x your stake, plus the return of your stake money. So, a $10 bet on a successful 4-1 shot means you would receive $50 in total - $10 x 4 plus your $10 stake.
These basic horse odds are easy to work out. All you need to do is divide the first number in the odds by the second then times it by your stake. So a 9-2 shot is in effect a 4½ to 1 bet (9 divided by 2).
Horse Racing Odds Calculator
Here is an approximate guide to what you can expect to get back for a successful win bet at various common odds to a standard minimum $2 stake:
| Odds | Payoff |
|---|---|
| 1-5 | $2.40 |
| 2-5 | $2.80 |
| 1-2 | $3.00 |
| 3-5 | $3.20 |
| 4-5 | $3.60 |
| EVEN | $4.00 |
| 6-5 | $4.40 |
| 7-5 | $4.80 |
| 3-2 | $5.00 |
| 8-5 | $5.20 |
| 9-5 | $5.60 |
| 2-1 | $6.00 |
| 5-2 | $7.00 |
| 3-1 | $8.00 |
| 7-2 | $9.00 |
| 4-1 | $10.00 |
| 9-2 | $11.00 |
| 5-1 | $12.00 |
| 6-1 | $14.00 |
| 10-1 | $22.00 |
| 12-1 | $26.00 |
| 15-1 | $32.00 |
| 20-1 | $42.00 |
| 50-1 | $102.00 |
| 60-1 | $122.00 |
| 99-1 | $200.00 |
We’ve stated $200+ at 99-1 as most boards only reach a maximum of 99-1 but in reality your chosen horse could be way more than that, the final figure being released after the result is made official. Betting online however means you can see accurate, up to the minute odds for every horse in the field.
Horse Racing Betting Types Terminology
Below is a list of horse racing betting terminology to provide insight on how you can use each of these and what they cost, but it's important at the beginning just to understand the basics of what each bet is called and roughly what it involves.
Straight Bets
Win: Your horse must win for the bet to payoff.
Place: Your horse must finish first or second for it to be successful.
Show: Your horse must finish first, second or third.
Naturally out of these three straight bets the win bet is the most difficult to get right so generally pays off more, while betting a hot favorite to show will mean a very low payout given that the probability of this horse running in the first three is very high.
Combination Straight Bets
Across the Board (win/place/show): This is a combination of all three wagers, so if you bet a horse this way you are betting that it will win place and show. If the horse wins, you collect on all three bets. If it is second, you collect on place and show and if it is third you collect on only the show part of the bet.
Win/Place or Place/Show: Simply a combination of win & place or place & show. There are two combinations, so a $2 bet would cost $4 in total.
Exotic Single Bets
Exacta: Correctly picking the horses to finish in 1st and 2nd. Can either be done as a straight bet or box bet (see Exotic Combinations below)
Trifecta: Correctly picking the horses to finish in 1st, 2nd and 3rd. Can either be done as a straight bet, box bet, or key bet (see Exotic Combinations below)
Superfecta: Correctly picking the horses to finish in 1st, 2nd, 3rd, and 4th. Can either be done as a straight bet, box bet, or key bet (see Exotic Combinations below)
Omni: You pick two horses, and if they finish in the top three in any order you win. This bet is available on select international tracks in France, United Kingdom, South Africa, and Hong Kong.
Trio: You pick the first three horses, and if they finish in the top three in any order you win. This bet is available on select international tracks in France.
Exotic Multiple Bets
Daily Double/Pick 3/Pick 4/Pick 6/Pick All: These bets involve choosing the winners of consecutive races. More than one horse can be added into each leg of the bet, multiplying the cost.
Exotic Combinations
Straight: A wager with only one combination, i.e. one horse in a win bet or just two horses in an Exacta.
Box: Boxing a bet means covering all available combinations, so in an Exacta there are 2 possibilities, a Trifecta has 6 and so on. You multiply the cost of your unit stake appropriately.
Key: Keying a horse means taking it on top by itself and adding others in behind it. So a Trifecta Key means choosing one horse you definitely think will win then any combination of other horses to fill second and third place behind it.
Wheel and Partial Wheel: A Wheel means to take the entire field in one leg of a wager and a partial wheel is taking a given number of horses in one leg of a wager.
How to Calculate How Much a Horse Bet Will Cost
Below we’ve shared some information on the various types of wagers available to you and how to calculate what a horse bet will cost. You need to know how to calculate horse bets or at least have this guide handy when you place a bet. Unlike ‘straight’ bets involving only one horse, when you have a more exotic wager you are essentially placing two or more bets on one ticket and so the cost is higher (though so are the potential rewards). Below you will find out how to calculate the costs of some common horse betting types including exacta bets, trifecta betting as well as some advanced bets like a superfecta and a pick 6.
Daily Double Costs
The Daily Double is a really popular horse racing bet in which you are tasked with choosing the winner of two consecutive, pre-selected races on a racecard.
In a $2 Daily Double in which you’ve selected horse 5 in leg 1 and horse 3 in leg 2 for example, this is just one bet so the total cost is $2.
You can choose to place a Daily Double Part Wheel, increasing the number of horses to give yourself a better chance of success. So, if you bet horses 1, 5 & 9 in the first leg and maybe numbers 6 & 10 in the second, the cost will be $12.00. To work this out, always simply multiply the number of horses in your first leg by the number in the second and then multiply that by your unit stake cost, in this case $2 (3 x 2 = 6 x $2 = $12).
Exacta Costs
This bet is also sometimes known as a Perfecta, depending upon which track you are betting at, and it involves choosing the first and second horses home in the correct order.
This sort of bet is not as simple as it sounds as so often in horse racing even when a hot favorite wins there can be a surprise outsider filling second place, though the harder the bet is to get right the bigger the payoffs will be.
Once again you can play an Exacta Part Wheel in which you choose more horses to increase your chances of success, but always remember that by doing this you are also increasing the total cost of the bet.
A typical $2 Exacta is just one combination; your chosen two horses finishing first and second in the race so the total cost is $2. If however you believe you’re sure of one horse winning but unsure of what may finish second, you may throw in some extras.
Betting horse 1 with horses 5 & 7 for example would cost $4. This is because winning combinations 1 & 5 or 1 & 7 would do = 2 bets mean twice the stake. Putting horse 1 with 5, 7, 8 & 10 would cost a total of $8 as there are now four possible combinations and so on.
This is a technique some bettors use when they firmly believe one particular horse will win the race but the field is wide open for second place. Many players wagered this way on Justify in both the Preakness and the Belmont Stakes in 2018 due to him being perceived as a lock while the rest of the field were fighting to get into the money.
You can switch this bet around, naming various horses first and a solid choice for second but this is risky. This means you’re effectively saying you don’t know who will win but you are pretty sure one particular horse will finish second, though you simply work the combinations out the same way.
Exacta Box Costs
‘Boxing’ any bet means you are covering the available combinations, in the case of the Exacta that means choosing two horses as you usually would but this time they can finish first and second in either order, a solid bet when there are two clear horses against the field with better ability.
A basic $2 Exacta Box costs $4 in total as there are two combinations, i.e. horses 4 & 6 in a box means the finishing order could be 4-6 or 6-4.
Once again you can choose more horses if you wish then simply calculate the cost as normal, so betting horses 4, 6 & 10 in an Exacta Box means the finishing order could be 4-6, 4-10, 6-4, 6-10, 10-4 or 10-6 meaning there are now 6 combinations meaning a total bet of $12.
This is OK if some of your selections are going off at big odds, meaning even paying out $12 to place the bet may return a profit depending on which of your horses finish first and second, if any.
Quinella Costs
In terms of how you select this bet, a Quinella is essentially an Exacta Box under a different name. You choose two horses to finish first and second in either order but without the unit stake having to change or be worked out, i.e. a $2 Quinella costs the same as a $1 Exacta Box.
In theory the payoff should be the same, but as these are pool bets it doesn’t always work out this way. Some sharp-eyed horseplayers keep an eye out on the probable payoffs for both the Quinella and Exacta Box just to see if there is any slight advantage to one or the other before deciding which one to place.
Usually, the basic rule is that the Quinella often pays a lot more than a boxed Exacta if the favorite doesn’t win. To work out the cost, use the same calculations as the Exacta Box and the divide the total in half.
Trifecta Costs
This bet is like the Exacta but with one extra horse, so a basic Trifecta means selecting three horses in a race to finish first, second and third in the exact order. As there is one combination involved here, a $2 Exacta would cost a total of $2 but there is the option of placing a Trifecta Key.
The Trifecta Key means nominating one of your horses to finish first but the other two to finish second and third in any order and of course you can add more horses in behind to this to increase your chances of success.
So, a $1 Trifecta Key with horse number 2 nominated as the winner and runners 5, 6 & 9 to fill the other two positions would mean 6 combinations, therefore a cost of $6 and so on.
These days with bets such as this, wagering online will mean your combinations and your potential total cost will be worked out for you so simply enter the horses you wish to bet and a unit stake to see your total bet amount appear before you click go.
Much like the Exacta, you can place a Trifecta Part Wheel whereby you can have one or more horses in first position, one or more in second and one or more in third.
So if you’re unsure of the winner, you may go horses 2 & 4 with 1, 2, 4 & 5 and 2, 4, 5, 6, & 8 meaning 24 combinations and a total stake of $24 to a $1 unit stake.
The amount of horses you nominate for first, second or third is up to you so to figure out the cost simply multiply the number of horses in first position by the number in second minus 1, multiplied by the number of horses in third position minus 2.
Trifecta Box Costs
As explained with the Exacta, you can box your Trifecta meaning that your three nominated horses can simply finish first, second and third in any order and you’ll be paid out.
Choosing horses 2, 4 & 5 in a Trifecta Box means the successful winning combination could be 2-4-5, 2-5-4, 4-2-5, 4-5-2, 5-2-4 or 5-4-2 and therefore there are 6 combinations in this case, meaning a $1 Trifecta Box would cost a total of $6.
Choosing four horses means 24 combinations, 5 horses is 60 combinations and so on, times by your unit stake. Watch out for the total cost in this case, as a 5-horse $5 Trifecta Box would cost $300!
Superfecta Costs
This is where you need to be either a real pro, a well-informed insider or just very lucky! The Superfecta involves you picking the first four horses to finish in the exact order. As the basic bet is one combination, a $2 Superfecta costs just that, $2.
You can place a Superfecta Part Wheel under the same rules as above or a Superfecta Key meaning you can nominate one horse as your "sure thing" combined with a number of horses to finish second, third and fourth.
If you place a $1 Superfecta Key with horse 5 nominated first along with horses 2, 4 & 8 then you have 6 combinations for a total of $6. This is because horse #5 has to win, so the only possibilities are 5-2-4-8, 5-2-8-4, 5-4-2-8, 5-4-8-2, 5-8-2-4 and 5-8-4-2. The more horses you nominate, the more combinations there are and the more you will pay to place the wager down.
You can play a Superfecta Part Wheel with one or more combinations in each of the four positions using the same math as in the Trifecta Part Wheel but, given the huge combinations often involved with this bet, some tracks may offer the Dime Superfecta meaning your unit stake can be just 10 cents. In this case, a $0.10 bet with 72 combinations would cost just $7.20.
Superfecta Box Costs
Boxing your Superfecta of course means a simple bet, but with lots of combinations depending on how many horses you choose to include.
A normal $1 Superfecta Box with four horses means a $24 total cost. Four horses to finish 1-2-3-4 in all available combinations has 24 possibilities and this quickly ramps up the more horses you add. Throwing in a fifth means 120 combinations and a sixth would be 360 so keep an eye on that overall ticket cost.
Pick 3 Costs
Placing a Pick 3 wager means picking the winner of three consecutive races. Choosing only one horse in each race means naturally one bet, so a $2 Pick 3 is exactly that cost, $2. You are allowed once again to choose multiple horses though so as usual simply multiply the number of horses in each leg times by your unit stake.
Betting a Pick 3 Part Wheel then with horse 2 in the first leg, horses 1 & 7 in the second and then 2, 6 & 8 in the third would mean 1 x 2 x 3 for a total of 6 combinations and a cost of six times your stake, a $1 bet in this case costing a total of $6.
Pick 4 Costs
Much like above, the Pick 4 means betting in consecutive races but this time four of them. The math is exactly the same, so horses 2 & 5 in leg one, then 3, 6 & 7 in leg two, horses 1, 4 & 8 in leg three and finally runners 1, 5 & 10 in the final leg would mean 2 x 3 x 3 x 3 for 54 combinations or a total bet of $54 for a $1 Pick 4.
True it can be an expensive bet, but getting it right just that one time can mean a very attractive payoff.
Pick 6 Costs
You guessed it, six races in a row. This is an incredibly difficult bet to get right but more pertinently the combinations involved are massive if you decide to choose multiple horses in each leg.
The Pick 6 is a pool in which will be involved should there be no winner on a given day, with all the money in the pool added onto whatever is put in the following day or at the following meet with consolation costs taken out.
The consolation payoffs involved in the Pick 6 are for those having the most winners out of six if nobody hits the Pick 6 jackpot and there is even a consolation for hitting 5 out of 6 winners when the Pick 6 has been won by someone.
The cost can really spiral here, so imagine playing a Pick 6 with three horses in each leg then the combination would be 3 x 3 x 3 x 3 x 3 x 3 for a total of 729 possibilities and therefore a total cost of $729 to a $1 unit stake.
Pick All Costs
Rather than having a number assigned as above, these bets are known as Pick All’s as it depends on how many races there are at a given track on a given day. These bets are mostly offered in California and it means if there are 9 races you need to pick the winner of all 9, 12 races you bet 12 horses and so on.
The math remains the same and even choosing only two horses in each leg of a 10-race Pick All would mean 512 combinations so as always, watch that ticket price!
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