Introduction To Wagering
When you wager, you are betting not against the track but against everyone who is making that type of wager in a particular race. For example, if you bet a horse to win, your bet goes into the win pool. Based on how much is wagered on each horse to win, their odds will change accordingly.
This is called pari-mutuel wagering, from the French term meaning "amongst ourselves." In this method of wagering, the public is betting against each other, not against the racetrack. In effect, the track has no interest in the results of a race. The track simply deducts a percentage from each dollar wagered for payment of purses, state taxes, and expenses. The remainder of the pool is returned proportionally to the winners.
Information is Valuable
Since you are essentially betting against everyone else, the more educated you are in your wager the better your chance of winning. The foundation of this expanded program is to allow you the opportunity to feel more confident about your wager by allowing you to make a more informed decision.
Traditional Wagers WIN You win if your horse finishes first. PLACE You win if your horse finishes first or second. SHOW You win if your horse finishes first, second, or third. ACROSS THE BOARD Placing a wager on your horse to win, place, and show. A $2 bet "across the board" would be a $6 wager. Exotic Wagers EXACTA Picking two horses to finish first and second in exact order. TRIFECTA Picking three horses to finish first, second, and third in exact order. (not recommended for beginners) SUPERFECTA Picking four horses to finish first, second, third, and fourth in exact order. (a very risky bet often considered a sucker bet) DAILY DOUBLE Picking the winners of two races that are designated Daily Double races. Wagers must be placed before the running of the first of the two races. RACING PICK THREE Picking the winners of three races that are designated Racing Pick Three races. Wagers must be placed before the running of the first of the three races. How to Bet When you wish to place a wager, state the following information: [1] Name of track [2] Race Number [3] Amount you wish to wager [4] Type of wager [5] Program number(s) Example: "Monmouth, seventh race, two dollars to win on number five." Morning Line The morning line odds in the program are set by an oddsmaker before the betting begins. This is an educated guess on how the public will bet on each horse. The odds change as money enters the mutuel pool. |
Exotic, or Multiple Bet, Wagering
Exotic wagering allows the patron to select a multiple number of horses. Since this is more difficult than, for example, a win bet, the payoffs on exotic wagers are higher. If you like two horses in a race, an exacta bet would allow you to bet both horses at the same time, rather than choosing one and excluding the other. You can preference your two selections and bet one exacta, but your preferences may not always be that straightforward. This page explains some of the different ways you can play exotic wagers, covering all the possible combinations you think may occur.
The cost of these bets are determined by the base wager you choose multiplied by the number of combinations your wager requires. A feature of this type of wager is the ability to bet $1 combinations. All prices posted by the track are in $2 values, so a $1 base wager would be worth half the amount.
Box
This term is used when multiple horses are selected in exacta and trifecta wagers where the bettor is not sure of the order in which the horses will finish. As an example, let's say you wish to bet an exacta, but you think that three or perhaps four horses have a real chance of finishing first or second. One alternative is to box these selections, which allows you to play the horses you like and not worry about the order in which they finish.
EXACTA BOX |
TRIFECTA BOX |
When you select two or more horses in
a race and wish to cover every possible exacta
combination with those selections, an exacta box
simplifies this bet.
Example: You like the #4, #5, and #6 in the fifth race. Since the exacta requires you to select the first and second horses in their exact order of finish, this three horse box example would involve six combinations: 4-5, 4-6, 5-4, 5-6, 6-4, and 6-5. Instead of making all six wagers separately, you can ask for a "$2 exacta box, 4-5-6" for a cost of $12. The following table shows the cost of various exacta boxes: #horses---------------2---3---4---5---6---7---8----9---10 #combinations-------2---6---12--20--30--42--56--72--90 Cost for $2---------4---12--24--40--60--84--112-144-180 |
When you select three or more horses
in a race and wish to cover every possible trifecta
combination with those selections, a trifecta box
simplifies this bet.
Example: You like the #3, #4, #5, and #6 in the fourth race. Since the trifecta requires you to select the first, second, and third horses in their exact order of finish, this four horse box example would involve 24 combinations: 3-4-5, 3-4-6, 3-5-4, 3-5-6, 3-6-4, 3-6-5, 4-3-5, etc. Instead of making all 24 wagers, separately, you can ask for a "$1 trifecta box, 3-4-5-6" for a cost of $24. The following table shows the cost of various trifecta boxes: #horses-----------3---4---5---6-----7------8-----9---10 #combinations----6--24--60--120--210--336---504--720 Cost for $2------12--48--120--240--420-672--1008-1440 |
Wheel
This type of wager can be used when you feel that one of your selections will finish in a certain position, either first, second , or third. The horse you select to finish in a certain position is your "key" horse. The other horses you have selected may then finish in any order and you are a winner. As an example, let's say that you wish to bet a trifecta and you feel strongly that the #2 will win the race. In this situation, you can "key" the #2 on top (to win) with your other selections. If #2 wins and any of your other selections finish second and third, you would win.
EXACTA WHEEL When you select a horse to finish either first or second and wheel it in the exacta, you cover every combination so that if your horse finishes in the selected position, you will have the winning combination. Example: You like the #5 horse to win the seventh race, which has a seven horse field. Since the exacta requires you to select the first and second horses in their exact order of finish, this would involve six combinations: 5-1, 5-2, 5-3, 5-4, 5-6, and 5-7. Instead of making all six combinations separately, you can ask for a "$2 exacta wheel, 5-ALL" for a cost of $12. EXACTA PART WHEEL A part wheel involves the same principle as a wheel but requires you to narrow down the number of combinations. An example would be a "$2 exacta part wheel, 5 with 3, 6, and 8." This covers three combinations: 5-3, 5-6, and 5-8 for a cost of $6. DAILY DOUBLE WHEEL When you select a horse to win the first half of the Daily Double and wheel it, you cover every combinations, so that if your horse wins, you have every horse in the second half of the Daily Double. Example: You like the #4 horse to win the first race. Since the Daily Double requires you to pick the winners of two races, the number of combinations are the same as the number of horses in the other Daily Double race. So, if there are 11 horses in the second race, there would be 11 combinations: 4-1, 4-2, 4-3, 4-4, 4-5, 4-6, 4-7, 4-8, 4-10, and 4-11. Instead of making all 11 combinations separately, you can ask for a "$2 Daily Double wheel, 4-ALL" for a cost of $22. You may also "back wheel" a horse. If you like a horse in the second half of the Daily Double, you can ask for a "$2 Daily Double wheel, ALL-7." In this case, you win if #7 wins the second half of the Daily Double. DAILY DOUBLE PART WHEEL If you do not want to cover every combination, a part wheel reduces the number of possible combinations while still simplifying the bet. An example would be a "$2 Daily Double part wheel, 5 with 1,2,5,and 7." This would cover four possible combinations: 5-1, 5-2, 5-5, and 5-7. |
TRIFECTA WHEEL When you select a horse to finish either first, second, or third and wheel it in the trifecta, you cover every combination so that if your horse finishes in the selected position, you will have the winning combination. Example: You like the #3 horse to finish second in the fourth race, which has a ten horse field. Since the trifecta requires you to select the first, second, and third horses in their exact order of finish, this would involve 72 combinations: 1-[3]-2, 1-[3]-4, 1-[3]-5,...2-[3]-1, 2-[3]-4,... 10-[3]-9. Instead of making all 72 combinations separately, you can ask for a "$1 trifecta wheel, ALL-3-ALL" for a cost of $72. The following table shows the costs of wheeling one horse in a specific position in the trifecta. The cost is the same whether the position selected is first, second, or third, but varies based on the size of the field. #horses--------------7---8---9---10---11---12 #combinations------30--42--56--72---90---110 Cost for $2---------60--84-112-144--180--220 TRIFECTA PART WHEEL When you select horses to finish in certain positions, a trifecta part wheel simplifies the number of individual bets necessary to cover all possible winning combinations. Example: You like the #2 and #3 to finish either first or second in the fourth race, and the #4, #5 o #6 to finish third. Since the trifecta requires you to select the first, second, and third horses in their exact order of finish, this would involve six combinations: 2-3-4, 3-2-4, 2-3-5, 3-2-5, 2-3-6, and 3-2-6. Instead of making all six combinations separately, you can ask for a "$1 Trifecta Part Wheel, 2-3 with 2-3 with 4-5-6" for a cost of $6. The trifecta part wheel allows you to preference your selections. In most cases, you will have one or two preferred choices to win, but since it is easier for less preferred horses to finish second and third, you would want to include more horses in these positions. TRIFECTA KEY When you select a horse to win and a group of horses to finish second and third, the "key horse must win, but the other selections can finish second and third in any order. Essentially, it is combining a win bet with an exacta box. |
Racing Pick Three
Racing Pick Three is a multiple race wager where you select the winners of three consecutive races designated in the program as the Racing Pick Three. You may select as many horses as you like in each of the three races. To determine the cost of your Racing Pick Three ticket, multiply the number of horses used in each race by the base amount of the wager.
Sample Racing Pick Three tickets: First Leg----------Second Leg----------Third Leg----------Cost
$2 Pick Three-------------------------[1] with-------------[2] with---------------[3]--------------$2
$1 Pick Three part wheel--------------[1] with-------------[2 and 3] with--------[3 and 4]--------$4
$2 Pick Three wheel------------------[1] with-------------[ALL (7 horses)]with--[3 and 4]-------$28
Please note the following:
MORE EXAMPLES OF WAGERING
Your 1st and 2nd choice must come in 1st or 2nd, meaning your first choice must come in 1st or 2nd and the same goes for your 2nd choice. Always check pay off to make sure that the price of the ticket does not cost more then the pay off, this mistake are often made.
TOTAL HORSES TO BOX | TOTAL COMBINATIONS | COST ON A $2 BET |
3 | 6 | $12.00 |
4 | 12 | $24.00 |
5 | 20 | $40.00 |
6 | 30 | $60.00 |
7 | 42 | $84.00 |
8 | 56 | $112.00 |
9 | 72 | $144.00 |
10 | 90 | $180.00 |
Your first choice must win. Always check pay off to make sure that the price of the ticket does not cost more then the pay off, this mistake are often made.
YOUR FIRST CHOICE WITH: | TOTAL COMBINATIONS | ON A $ 2.00 BET TOTAL COST |
2 Other horses | 2 | $4.00 |
3 Other horses | 3 | $6.00 |
4 Other horses | 4 | $8.00 |
5 Other horses | 5 | $10.00 |
6 Other horses | 6 | $12.00 |
7 Other horses | 7 | $14.00 |
TOTAL HORSES TO BOX | TOTAL COMBINATIONS | COST ON A $2 BET |
3 | 3 | $6 |
4 | 6 | $12 |
5 | 10 | $20 |
6 | 15 | $30 |
7 | 21 | $42 |
8 | 28 | $56 |
Your first choice must win. Always check pay off to make sure
that
the price of the ticket
does not cost more then the pay off, this
mistake are often made.
Your first choice with: | Total combinations | On a $2.00 Bet Total Cost |
2 other horses | 2 | $4.00 |
3 other horses | 3 | $6.00 |
4 other horses | 4 | $8.00 |
5 other horses | 5 | $10.00 |
6 other horses | 6 | $12.00 |
7 other horses | 7 | $14.00 |
TOTAL HORSES TO BOX | TOTAL COMBINATIONS | COST ON A $1.00 BET |
3 | 6 | $6.00 |
4 | 24 | $24.00 |
5 | 60 | $60.00 |
6 | 120 | $120.00 |
7 | 210 | $210.00 |
8 | 336 | $336.00 |
Your first choice must win. Always check pay off to make
sure that
the price of the ticket
does not cost more then the pay off, this
mistake are often made.
Your first choice with: | Total combinations | On a $1.00 bet Total Cost |
2 other horses | 2 | $2.00 |
3 other horses | 6 | $6.00 |
4 other horses | 12 | $12.00 |
5 other horses | 20 | $20.00 |
6 other horses | 30 | $30.00 |
7 other horses | 42 | $42.00 |
TOTAL HORSES TO BOX | TOTAL COMBINATIONS | COST ON A $1.00 BET |
4 | 24 | $24.00 |
5 | 120 | $120.00 |
6 | 360 | $360.00 |
7 | 840 | $840.00 |
8 | 1680 | $1680.00 |
Your first choice must win. Always check pay off to make sure that the price of the ticket does not cost more then the pay off, this mistake are often made.
Your first choice with: | Total combinations | On a $1.00 bet Total cost |
3 other horses | 6 | $6.00 |
4 other horses | 24 | $24.00 |
5 other horses | 60 | $60.00 |
6 other horses | 120 | $120.00 |
7 other horses | 210 | $210.00 |