Horse Race Betting Tutorial Refresher Course – Part 2
In Part 2 of our horse racing pari-mutuel betting tutorial, we’ll have a look at:
- a.) odds charts and what payouts you can expect,
- b.) what you’ll need to tell the window clerk when you’re (applies to off track betting and wagering on the internet),
- c.) and alternate methods of betting while at the race track by using the SAMS machines to place your bets. Let’s take a look:
Approximate Win Payoffs (based on a $2 wager)
|
Odds
|
Payoff
|
Odds
|
Payoff
|
Odds
|
Payoff
|
|
1 / 9
|
$2.20
|
1 / 5
|
$2.40
|
2 / 5
|
$2.80
|
|
1 / 2
|
$3.00
|
3 / 5
|
$3.20
|
4 / 5
|
$3.60
|
|
1 / 1
|
$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
|
7 / 1
|
$16.00
|
|
8 / 1
|
$18.00
|
9 / 1
|
$20.00
|
10 / 1
|
$22.00
|
What to Tell the Clerk
When you’re ready to post your bet, you’ll tell the clerk 5 things:
- Which track
- Which race
- How much money you want to bet
- What kind of bet you want, i.e.: win, place, show, exacta, etc.
- The number of the horse.
For example, by using the criteria above, what you say to the window clerk might be: “Santa Anita, race number three, $2.00 to win on horse number seven.” Easy, huh?
Self Service Terminals *
* Also known as Screen Activated Machines, or SAMS
- First you need a voucher which may be purchased from any clerk or voucher machine.
- After you insert the voucher in the machine, the machine will ask you what track you want to bet on (Bay Meadows, Oaklawn, Santa Anita, Churchill Downs, etc.).
- Once you have designated the track, the machine will ask you how much you want to bet.
- Finally, the machine will show you a variety of wages that may be made.
If you need assistance, there are customer service representatives located in the general area of all SAMS.
(*Screen Activated Machines)
Part 1 – Horse Race Betting Tutorial Refresher Course
More information about picking odds and knowing what those odds will pay. Also a description of SAMS (screen activated machines)
Part 3: Horse Racing Words and their Definitions
In part 3 we’ll explore some of the more common as well as some obscure horse track words and their meanings, as well as a detailed look at a sample horse racing program and how to decipher it. Let’s do this!
Horse Race Betting Tutorial Refresher Course – Part 1
Beginner’s Guide to Pari-Mutuel Wagering
This is the first in a three part series about the particulars of horse racing, how it works, and how to place a bet. In part 1, we’ll start with a description of what pari-mutuel wagering is, types of horse betting wagers, and where your on-track betting dollars go. In part 2, we’ll take a closer look at typical horse racing odds and their payouts, what go to tell the clerk at the window (or an online racebook) when you’re placing your bet, and some betting options such as the “screen activated machines”, or SAMS. Part three features words that you’ll hear at the track and their definition and a sample horse racing program with descriptions. After these tutorials, you should have an idea of what you need to do in order to place a bet in a horse race. Let’s get started:
PARI-MUTUEL WAGERING
Pari-mutuel wagering means, literally, a mutuel wager or “betting among ourselves”. It is similar to a stock transaction. When you buy a $2.00 ticket on a horse you are, in effect, buying one share in the horse’s performance in the race. The race track merely acts as the broker for the transaction and deducts a commission fixed by the state and shared by the state, track, and horsemen. The track’s takeout remains the same, regardless of whether a favorite or a longshot wins.
TYPES OF WAGERS
WIN
To collect, your selection must finish 1st.
PLACE
To collect, your selection must finish 1st or 2nd.
SHOW
To collect, your selection must finish 1st, 2nd, or 3rd.
DAILY DOUBLE
To collect, you must select the winners of two consecutive races.
DAILY TRIPLE
To collect, you must select the winners of three consecutive races.
EXACTA
To collect, you must pick the first two horses to finish in the exact order.
QUINELLA
To collect, you must pick the first two horses to finish, but not in the exact order.
TRIFECTA
You must pick the first three horses to finish, in the exact order they finish.
PICK SIX
Selecting the winners of the last six consecutive races. You must make your Pick 6 wager prior to the first Pick 6 race.
Where your on-track betting dollar goes
(in California):
| Back to the betting public |
80.98%
|
| State of California |
3.77%
|
| Equine Research |
.10%
|
| City of San Mateo |
.29%
|
| Purses |
4.97%
|
| Track |
5.08%
|
| Owners |
.16%
|
| Breeders |
.32%
|
| Host Producer of Fees |
1.18%
|
| Simulcast Expenses |
3.15%
|
| Total |
100%
|
Part 2: Horse Racing Odds and their Payouts
More information about picking odds and knowing what those odds will pay. Also a description of SAMS (screen activated machines)
Part 3: Horse Racing Words and their Definitions
In part 3 we’ll explore some of the more common as well as some obscure horse track words and their meanings, as well as a detailed look at a sample horse racing program and how to decipher it. Let’s do this!
Top Shelf Online Racebook
Play Hard in the Racebook
The Sportbook’s Racebook makes horse racing comfortable as well as every bit as exciting as being at the track. With weekly rebate offers at over 80 tracks, betting online gives you an advantage. See Sportsbook’s Racebook.
The Sportsbook Racebook provides all the horse racing information you would expect to find at a race track. Crucial info regarding jockeys, trainers and, of course, which horses have been scratched.
The Racebook is a highly respected, trusted long-term operation, earning top ranking by all major racebook review sites. Considered to be the online gambling industry’s most reliable, easy–to–navigate horse betting experience. Perfect for casual bettors and seasoned gamblers alike.
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