In addition to the straight wagers of Win, Place, and Show discussed in the horse betting odds article, there are a number of exotic horse betting wagers available, which we will discuss briefly in this article. Needless to say, these wagers are all more difficult than straight wagers because they require multiple selections to finish in the proper sequence in order to win the bet. As such, they also pay much more than do the straight wagers based on an equivalent amount bet.

Quinella:

To win a Quinella you must pick the first two horses to finish in either order in a single race. Basically you are making a place bet on two horses in a single race.

Exacta:

To win an Exacta, you must select the first and second place finishers in their exact order. Many people that place bets on Exactas bet back up tickets or bet Exactas in a "wheel" in order to cover multiple possible outcomes.

Trifecta/Triacta:

To win a Trifecta you must select the first, second, and third place finishers in their exact order. As with an Exacta, you can bet back up tickets or bet in a wheel to cover multiple possible outcomes.

Superfecta:

To win a Superfecta you must pick the top four finishers of a single race in the correct order. Using back up tickets and betting a wheel as with Exacta and Trifecta is a possibility.

Pick 3/Win 3/Daily Triple:

Pick the winners of 3 consecutive races. You may add multiple horses to cover additional possible outcomes, but the more horses you add, the more expensive the bet.

Pick 6/Win 6:

Pick 6 is similar to the Pick 3, with the only difference being that you must select the winners of 6 consecutive races. The price for this bet rises very quickly as you add horses to your ticket.

Parlays:

A parlay is a bet where you make two or more wagers. You win if and only if all of the individual wagers that make up the parlay win. Generally, the more individual wagers included in the parlay, the higher the payout.

Win, Place or Show parlays are relatively simple to play and, because you are leveraging your bets, can generate a large payout in proportion to the amount wagered.

We will use a 3-win Parlay as an example, though you can do a similar parlay with place or show bets, or with a mixture of any or all of the straight bets. Say there are 10 races at a given track for the day. You want to wager on Horse #2 to win the second race, Horse #4 to win the fifth race, and Horse #1 to win the sixth race. If you decide to make a $10 parlay, you would place $10 on Horse #2 to win the second race. Horse #2 indeed wins the second race and you are paid $40 (3 to 1 odds). You place the entire $40 on Horse #4 to win the fifth race. Horse #4 wins and you are paid $80 (even money). You take the entire $80 and place it on Horse #1 to win the sixth race. Horse #1 wins and you are paid $480 (5 to 1 odds). Parlaying your bets allowed you to turn $10 into $480 on three bets.

Parlays are an interesting play when the favorites are at short prices. There is not much value in a $4.00 horse, but if you can find several and parlay your bets you can make it pay.

Horse Betting Online Guide Home

Understanding Horse Betting Odds

Betting the Aintree Grand National

Live Horse Racing Lines

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