Horse Race Betting Tutorial Refresher Course – Part 1

December 31, 2007 · Posted in Bodog, Bovada, Horse Racing, Racebook 

Horse Race Betting Tutorial
Beginner’s Guide to Pari-Mutuel Wagering

Horse Race Betting Tutorial: Part 1

 

  1. This horse race betting tutorial 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 the definition of pari-mutuel wagering, what it is and how it works. We will also cover the varying types of horse racing wagers, and break down where your on-track betting dollars go.
  2. In “Horse Race Betting Tutorial, part 2“, we will take a closer look at typical horse racing odds and their payouts, what 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.
  3. Horse Race Betting Tutorial: Part 3 hilight the words you will hear at the track and their definitions and a sample horse racing program with explanations. After studying this horse race betting tutorial series, you should have a good idea of what you need to know 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 long-shot wins.

TYPES OF HORSE RACING WAGERS

    • WIN
    • To collect on your bet, 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.
    • SUPERFECTA
    • You must pick the first four 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.

Boxing Your Bets

On some of the above mentioned wagers, it is often desirable to “Box” your bets. When you box the exotic bets such as the Exacta, the Trifecta and the Superfecta, you stand a better chance of winning. For example, if you wager $2 on a Trifecta and you picked horse numbers 2, 5, and 8 to come in first, second and third, those horses must finish in that exact sequence in order for you to collect. However, if you box your bet, those three horses could finish in any order and you still would have won. Of course, it costs more to box your bets, but many people feel it is worth the added expense, myself included. The exotic bets are some of the more exciting to play, and often offer some very attractive payouts!

Where your on-track betting dollar goes
(in California):

 

santa anita track Horse Race Betting Tutorial Refresher Course   Part 1
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%

Horse Race Betting: Part 2
Horse Racing Odds and their Payouts

More information about picking odds and knowing what those odds will pay. Also an explanation of SAMS (Screen Activated Machines)

Part 3: Horse Racing Words and their Definitions

In Horse Race Betting Tutorial, 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!

 

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