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Horse Racing for Dummies

Written by fademecasually

October 29, 2020

As one of the oldest forms of competition , horse racing is also one of the most electric ways to win big cash. I promise you nothing is better than watching these beasts cross the finish line to fill your pockets. But one obstacle to enjoying these daily events is understanding the betting language of horse racing. From exacta boxes to trifectas… it can get confusing at times. That is why I’ve made this idiot proof guide to horse racing… Enjoy!

The Basics: Winner, Place, Show:

Let’s get started of with one of the easier topics, picking a horse to win, place, or show. Now you may be thinking that this is easy, and you are mostly right. If you pick a horse to win, then you are betting on them to get first in the race. If you bet on a horse to place, then you are betting on him to get second in the race. And finally, if you bet on a horse to show, then you are betting that horse to get third. Easy right? Yes, but the hard part is calculating the payout. Let’s say you bet on a horse to win. If that horse then ends up winning, then you will receive the payouts for the win, place and the show. Awesome right? For another example let’s say you bet on a horse to place. If you win, then you would receive payouts for the place and the show. In closing, I would recommend these types of bets for beginners who are just learning how to pick horses.

The Exacta and Exacta box:

Moving on, let’s get to more of the fun stuff. The Exacta is a game of twos. The object of an exacta is to pick the horses that will win and come in second in that order. The way the payout is calculated is the winning horses’ odds; multiplied by the placing horses odds plus one; multiplied by your wager. Or…

$Bet * (Win Odds) * (Place odds + 1)

As you can see, the payout increases quickly in this equation. This makes for huge wins with little risk. That is why this is one of my favorite bets in horse racing. Another way you can play an exacta is with an exacta box. This allows you to pick as many horses as you like, but you must put down money for each possible exacta. For Example,…

As for the payouts, it would take a whole book for me to explain all the different outcomes. So, instead here is this chart where you can calculate your own.

In the end, I tend to favor the plain exacta because you do not have to place multiple wagers. But I still would recommend both as my favorite bets to take in horse racing.

The Trifecta and Trifecta box:

Like the exacta and exacta box, the trifecta is where you pick the top three horses in the correct order. This one is for the more experienced horse better who has accumulated a vast knowledge of the sport. I say this because the odds are not in your favor. Picking a winner on its own is hard but picking the top three in the correct order is near impossible. But, if you have the right information and are looking for a big payout, this is your bet. The odds are calculated by adding up the money bet on trifectas for that race, and then dividing it by the amount of people who had the correct ticket. This creates a huge opportunity for quick cash for the lucky people who had the guts to try the impossible. As for the trifecta box, you can select as many horses as you like just as the exacta box. The catch is you must place separate wagers for all your combinations just as the exacta box.

The Daily Double:

The last type of bet we are going to cover today is the daily double. A daily double is when you choose the winners of two separate races. At some tracks these races need to be consecutive, but at others it can be any two races from that day. The payout is calculated like a trifecta where winners split a pool of money equal to the amount bet on daily doubles. I would recommend this bet if you are looking to sit down and watch multiple races at the tracks.

I hope you all enjoyed this article and learned a thing or two about horse racing! As always, good luck and fade me casually!

Cover Image via Wager Street

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