Horse Racing Betting Guide

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Horse Racing Betting Guide Average ratng: 3,7/5 9127 reviews

Betting on horses has been a favorite pastime of horse owners, gamblers and just about everyone else associated with race horses ever since humans first figured out how to ride them. The domestication of horses thousands of years ago always led to discussions of who had the fastest horse — discussions that could only be settled in one way — by racing one horse against the other. Betting was simple — win only. Second and third didn’t count.

Fast forward to the 20th century – horse racing in North America has become organized to the point where everyone can participate. Bettors (and other forms of gamblers such as slot players) are now the lifeblood of modern horse racing. Without them there would be no organized racing. Fifty years ago when horse racing was the only form of legalized gambling, nobody in racing management really cared about the bettors (some still don’t). They offered bettors just enough unimaginative betting options to keep the money flowing through the pari-mutuel windows and that was it. This is no longer the case.

Kentucky Plans to Introduce New Bill on Tax Rates for Prepaid Horse Racing Betting. The state of Kentucky is planning a tax rate hike on advance deposit wagering or prepaid online betting and historical slot-like horse racing machines if a bill filed by a Kentucky representative passes. 1 day ago Horse Racing Betting Resources 2021 Kentucky Derby futures pool 2: odds, predictions and betting offers Futures odds for the Kentucky Derby, scheduled for May 1 at Churchill Downs. 22 hours ago Blank It to win again. Race 3 20:28 Turf Paradise - Blank It. Blank It is my idea of the winner of this $6,250 optional claimer on the main track.

The onslaught of legalized forms of government gambling over the past 30 years has forced racetrack owners to wake up and smell the coffee or allow their facilities die a slow painful death, as bettors and gamblers flock to slots, casinos, card games, lotteries and any other form of legalized gambling they can find. The racetracks that have adjusted and survived now offer numerous different horse racing wagers, many of which allow both casual and professional players a chance at making a life-changing score.

There are now two basic types of horse racing bets — straight bets and exotic bets. Straight bets include win, place and show. Exotic bets can be subdivided into two categories — intra-race bets and multi-race bets. The intra-race bets, which allow for multi-horse wagering on individual races, include Exactas, Quinellas, Trifectas and Superfectas. The multi-race bets, which require a bettor to select the winners of consecutive races on one ticket, include the Daily Double, Pick 3, Win 4 and Pick 6, plus a few other experimental bets that have yet to gain household-name popularity.

Straight Bets - Win, Place and Show Betting

Win Betting - You bet on a horse to win. To cash your ticket your horse must finish first and first only. To learn more about win wagering strategies please see our expanded page on betting horses to win.

Place Betting - You bet on your horse to finish in the place (second) position. To cash your ticket your horse must finish first or second. Place betting payoffs are always less than win betting payoffs but do offer the added security of being able to cash even if your horse doesn’t win.

Show Betting - You bet on your horse to finish in the show (third) position. To cash your ticket your horse must finish first, second or third. Show betting payoffs are substantially less than win and place betting payoffs but do offer the added security of being able to cash even if your horse doesn’t win or finish second.

Win-Place Betting - When you make a win-place bet your horse must finish first or second to cash your ticket. If your horse wins you collect both the win payoff and the place payoff. If your horse finishes second you collect only the place payoff. Obviously, it is better if your horse wins, but the additional place option in this type of bet offers you a chance to recoup some of your investment if your horse fails to win but still finishes second.

Across the Board Betting - When you bet a horse across the board, your horse must finish first, second or third to cash your ticket. If your horse wins you collect all three payoffs — win, place and show. If your horse finishes second, you collect the place and show payoffs only. If your horse finishes third you collect only the show payoff. Of course it’s better if your horse wins, but the additional place and show options in this wager offer you a chance to recoup some of your investment if your horse fails to win but still finishes second or third.

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Exotic Betting - Intra-Race Betting Options: Quinella, Exacta, Trifecta and Superfecta

Intra-race bets require you to pick numerous horses in the same race to finish in the first two to four positions. While these types of exotic bets are slightly more difficult to plan and execute than straight bets, they also offer greater opportunities to win large sums of money. While straight bets have been around for hundreds of years, resulting in an efficient market, intra-race exotic betting options have been around for only the past 30-40 years. Many bettors have not yet learned how to properly structure exotic wagering tickets, resulting in inefficiencies in the betting pools that can be taken advantage of by smart handicappers and bettors. It pays to understand intra-race exotic wagering.

Quinella Betting - Quinella betting requires you to pick the first and second place finishers in a race in either order. For example, if you play a $2 Quinella 2-3, you win if the final order of finish is either 2-3 or 3-2. A popular option preferred by many bettors is to play a multiple horse Quinella Box. For example, a $2 Quinella box of the three horses 2-3-7 would include six possible combinations at a cost of $6. With this type of wager you would cash a winning ticket if the order of finish was 2-3, 3-2, 2-7, 7-2, 3-7 or 7-3. Often called the poor man’s Exacta, Quinellas tend to pay less than Exactas simply because your horses can finish in either order. To learn more about Quinella wagering strategies please see our Quinella Betting page.

Exacta Betting - Also sometimes referred to as Exactor betting, Exacta betting requires you to pick the first and second place finishers in a race in exact order. For example, if you play a $2 Exacta 2-3, the 2 horse must win and the 3 horse must finish second, in order for you to cash a winning ticket. A popular option preferred by many bettors is to play a multi-horse Exacta Box. For example, a $2 Exacta box of the two horses 2-3 at a cost of $4 would include two winning combinations. With this type of wager you would cash a winning ticket if the order of finish was either 2-3 or 3-2. Exacta wagering offers casual and professional players alike the chance of making a good score with a minimal outlay of cash. To learn more about Exacta wagering strategies please see our Exacta Betting page.

Trifecta Betting - Also sometimes referred to as Triactor betting, Trifecta betting requires you to pick the first, second and third place finishers in a race in exact order. For example, if you play a $2 straight Trifecta 2-3-5, the 2 horse must win, the 3 horse must finish second and the 5 horse must finish third, in order for you to cash a winning ticket. A popular option preferred by many Trifecta bettors is to play a multiple horse Trifecta box. For example, a $1 Trifecta box of the three horses 1-3-5 at a cost of $6 would include six possible $1 combinations and would payoff if the horses 1, 3 and 5 finished in the first three positions in any order. Trifecta wagering, while more risky than Exacta and Quinella betting, offers all bettors the chance of making a big score. There are numerous different methods of betting Trifectas, some more efficient than others. To learn more about Trifecta wagering strategies please see our Trifecta Betting page.

Superfecta Betting - Superfecta betting requires you to pick the first, second, third and fourth place finishers in a race in exact order. For example, if you play a $2 straight Superfecta 2-3-5-7, the 2 horse must win, the 3 horse must finish second, the 5 horse must finish third and the 7 horse must finish fourth, in order for you to cash a winning ticket. A high risk-high return wager, Superfecta betting can be quite expensive, but it does offer the potential for life-changing payouts. Playing Superfecta boxes that include multiple horses can be both expensive and inefficient, but there are other methods such as wheels and part-wheels that offer you a good chance of winning a substantial sum for a more reasonable cash outlay. To learn more about Superfecta wagering strategies please see our favorite “Scooping” page.

Exotic Betting - Multi-Race Betting Options: Daily Double, Pick 3 or Win 3, Win 4 or Pick 4, Pick 6

The most common multi-race bets require you to pick the winners of anywhere between 2-6 individual races in a row. The most common multi-race wagers are the Daily Double, Pick 3 or Win 3, Win 4 or Pick 4 and Pick 6.

There are a few significant advantages to playing multi-race wagers. The first is the fact that each multi-race wager has its own separate betting pool. The government and race track takeout are applied to a multi-race bet only once, despite that fact that the bet occurs over multiple races. In contrast, a separate win bet on each race would be subject to the government and track takeout on each bet on each race. So while multiple-race wagers inherently have more risk, they also offer better odds partly due to a takeout which occurs only once rather than on each race.

Horse Racing Bets Explained

The second advantage to multi-race wagers is the fact that the public tends to over bet certain combinations. Like intra-race wagering, many bettors have not yet figured out how to properly structure multi-race tickets. This results in inefficiencies in the wagering pools. These inefficiencies, when combined with the one-time takeout, often provide excellent value-based opportunities for smart handicappers and bettors. As in intra-race wagering, it pays to understand the mechanics of multi-race exotic wagering.

Daily Double Betting - The first exotic wagering option to appear at racetracks in North America, Daily Double betting requires you to select the winner of two consecutive races. For example, if you play a $2 Daily Double 5-8, the 5 horse must win the first race in the Daily Double and the 8 horse must win the second race in the Daily Double, in order for you to cash a winning ticket. A popular option among many bettors is a $1 Daily Double Wheel, in which multiple horses are combined in one leg of the wager with multiple horses (or a single horse) in another leg of the wager. For example, a $1 Daily Double wheel of 2, 3, 4 with 5, 6 would include six possible combinations at a cost of $6 and would be a winning ticket if horse 2, 3 or 4 won the first race and horse 5 or 6 won the second race.

Traditionally offered on the first two races of a race card, many racetracks now offer both an early and late Daily Double and some rare tracks even offer rolling Daily Doubles throughout the card on consecutive races. Because the Daily Double is the oldest of the exotic multi-race wagers, it is very popular among traditional long-time race goers. For more info, see our article on Daily Double Betting.

Pick 3 Betting - The Pick 3, also sometimes known as the Win 3, offers an excellent opportunity for a good score with a minimal outlay of cash. It requires you to select the winner of three consecutive races. For example, a $2 straight Pick 3 of 2-1-4 would require that horse 2 win the first race (leg) of the Pick 3, horse 1 win the second leg and horse 4 win the third leg, in order for you to cash a winning ticket. A popular wagering strategy among many Pick 3 bettors is the $1 Pick 3 wheel. For example, if you play a $1 Pick 3 wheel combining horses 5 and 6 in the first race of the Pick 3 with horses 1 and 2 in the second leg with horses 6 and 7 in the third leg (5,6 with 1,2 with 6,7) at a cost of $8 ( $1 * 2 horses * 2 horses * 2 horses = 8 possible combinations), horse 5 or 6 must win the first race of the Pick 3, horse 1 or 2 must win the second race and horse 6 or 7 must win the third race in the Pick 3, in order for you to cash a winning ticket.

Traditionally offered twice on a race card, many tracks now offer rolling Pick 3s on consecutive races throughout the race card. There are a variety of different methods and tricks used for betting the Pick 3 that can give you an advantage over your fellow bettors. To learn more about Pick 3 wagering strategies please see our Pick 3 Betting page.

Horse Racing Betting Guide Pdf

Win 4 Betting -The Win 4, also sometimes known as the Pick 4, offers both casual and professional players a chance at a four-figure score with a minimal to reasonable outlay of cash. It requires you to select the winner of four consecutive races. For example, a $2 straight Win 4 of 1-6-5-7 would require that horse 1 win the first leg of the Win 4, horse 6 win the second leg, horse 5 win the third leg, and horse 7 win the fourth leg of the Win 4, in order for you to cash a ticket. Wheeling is also a popular strategy in Win 4 betting. For example, if you play a $1 Win 4 wheel combining horses 1 and 2 in the first race of the Win 4 with horses 5 and 6 in the second leg with horses 6 and 7 in the third leg with horses 4 and 9 in the fourth leg (1,2 with 5,6 with 6,7 with 4,9) at a cost of $16 ($1 * 2 horses * 2 horses * 2 horses * 2 horses = 16 possible combinations), horse 1 or 2 must win the first race of the Win 4, horse 5 or 6 must win the second race, horse 6 or 7 must win the third race and horse 4 or 9 must win the fourth race of the Win 4, in order for you to cash a winning ticket. Traditionally offered once on a race card, many tracks now offer both an early and late Win 4. To learn more about Win 4 wagering strategies please see our Win 4 Betting page.

Pick 6 Betting - The Pick 6 offers all types of bettors a chance at make a life-changing score. The most expensive of the exotic multi-race bets, it is not uncommon to see five and six figure payoffs on a regular basis. Generally appealing to those with a larger bankroll, the Pick 6 requires you to pick the winner of six consecutive races — a very difficult task.

While playing the Pick 6 as a straight $2 ticket at a cost of just $2 offers a chance at the big money, the odds of winning using this method would be more like playing the lottery. For example, if each race in a Pick 6 had eight horses, the odds of a straight $2 ticket coming in might be calculated as (8 * 8 * 8 * 8 * 8 * 8 = 262,144 combinations) or 262,144 to 1. Of course, all horses generally do not have an equal chance of winning each race, so the odds can be reduced accordingly based on your selections and their relative chances of winning. And since no bettor can afford to cover all 262,144 combinations, or even the thousands of semi-logical combinations, a single horse or key must often be used in one or more races of the Pick 6, to make the ticket affordable.

As an example, let’s say you found two races in the Pick 6 in which you really liked one horse and a few other races where you could narrow down the contenders. Your $1 Pick 6 Wheel ticket might look like this: 7 with 1,2,3 with 2,4 with 5 with All (8 horses) with 5,6. The cost of such a $1 Pick 6 wheel would be ($1 * 1 * 3 * 2 * 1 * 8 * 2 = 96 combinations) $96 - certainly affordable. A popular method of playing the Pick 6 is to combine the financial resources of several bettors in an effort to cover more combinations. Multiple $1 Pick 6 wheel tickets costing in the range of $500 to $1000 are not uncommon when trying for a six-figure payout. To learn more about Pick 6 wagering strategies please see our Pick 6 Betting page.

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Here are some initial tips to get you started with our E-Z Win^® Form.
We will be publishing handicapping articles periodically on the site.

- Horstradamus^®

Follow The Tiers
This is the most important concept when reading my handicapping picks. The horses are grouped into color coded tiers. The tier colors are displayed as the background color of each horse's program number. The colors range from dark green to yellow.
The grey tier is a special tier which means I did not rate that particular horse. Although, the grey tier is listed at the bottom, this DOES NOT indicate that this is a bad horse. It is a rare occurrence that a horse is unrated. It is usually due to a lack of data for foreign horses. Examine these horses manually to see if they pose a threat.
Within a given tier, the horses are ranked from best to worst. However, usually the horses within a tier are close in ability and it is difficult to choose one over another. For single race bets (e.g. Exacta, Trifecta), I would key or box the horses in this first (dark green tier). For multi-leg bets (e.g. Pick 3, Pick 4), I take all the horses in the top tier. Sometimes, depending on the circumstances, I add one or two horses from the second tier or from the grey tier.
Handpick Your Races
Although I am successful at predicting many races, it is common sense that you must be selective when choosing the races to bet. You will not be as successful if you bet every possible race. Typically, I look for races with smaller top tiers (one or two horses in the tier). I also skip races if there are one or more horses in the grey tier.
It Takes Money to Win Money
While you should handpick your races to conserve your bankroll, be prepared to commit enough money to make a proper bet when you find a race you like. Exotic wagers such as Pick 4s, Pick 6s and Superfectas usually require a significant outlay to have a realistic chance of hitting the bet. I cannot tell you how many times eliminating one or two horses from your combination to try to save a couple of bucks has cost a bettor hundreds or thousands of dollars in lost winnings. If you cannot afford to outlay enough funds for the more exotic bets, stick to simpler bets such as Win/Place/Show, Exactas/Quinellas and Doubles.
Workouts, Workouts, Workouts
Besides my selections themselves, workouts are the second most important gauge of a horse's ability. Past performances indicate a horse's basic ability. Recent workouts are an indication of a horse's current form. When choosing between two horses with similar past ability, the horse in the best current form will often prevail.
We analyze the quality of workouts for you. Workouts highlighted in red are quality workouts. In addition, if you see the 'Monster Workout' icon for a horse, keep an eye out! Click here (or view the right sidebar) for the description of the icons on the prediction form.
Turf vs. Dirt
Horses are either main track horses or turf horses, not both. It is very rare that a horse will run well on both surfaces. Breeding plays a major factor here, as there are physical aspects of a horse which make the horse better on the turf or dirt. I will discuss this in further depth in a later article.
It is enough to know that if a horse looks terrible on the dirt (but has shown some promising short distance workouts), there's a good chance the horse will perform well on the turf. A horse that is predisposed for turf can look like a completely different horse when moving from the main track to the turf. The same goes for horses that are terrible on the turf. They may prefer a dirt course. For first time turf starters, I incorporate a pedigree analysis and rate these horses accordingly.
Another way to gauge if a horse will like the turf is to see if the horse ever ran on a wet dirt track (Good, Muddy, or Sloppy). If the horse ran significantly better on the off track than a Fast track, the horse may take well to the turf.
Track Condition
It always amazed me that most handicappers never take track condition into consideration. This is a HUGE factor. Similar to the dirt vs. turf issue, some horses prefer a dry track while others prefer a wet track. This applies on the dirt as well as on the turf. In fact, this is often the case with European turf horses. The turf courses in Europe are frequently soft, and European horses usually don't run as well on a firm course here in the States.
A simple way to determine if a horse likes an off track, is to check his Wet record on my tip sheet or look at the horse's individual past performances on a wet track. Luckily, I do the analysis for you for all track conditions. In addition, I also analyze turf races for the dirt (just in case they come off the turf due to inclement weather).
Simply select the dirt and turf conditions on my predictions form to reflect the current conditions. It is important to change your selections during the racing day, if the track condition changes. If turf racing is moved to the main track, simply choose OFF as the turf condition. You will then see my dirt selections for all turf races for the dirt track condition you have selected. Sometimes racing may come off the turf but one big turf stakes race will remain on the grass. In this case, first you select the current turf condition. Then, go to each individual turf race and you can override the surface to Dirt for the races that came off. Simply leave the surface set to Turf for the turf races that remained on the grass.
Class Dropdowns
Another thing to watch for are horses that are dropping in class. Horses that are significantly dropping in class from their last race, are usually a threat. Some examples of significant class drops are: Maiden Special Weight to cheap Maiden Claiming, Claiming to another Claiming with a significantly lower claiming price, Allowance to Claiming and Graded Stakes to Allowance or Claiming.
To determine if a horse is going up or down in class, simply look at the very right of the horse's section on my picks sheet. If you see a green down arrow, that means the horse is dropping in class. A red up arrow means moving up in class. The class comparison is based on the horse's last race on the SAME surface as the current race. Click here (or view the right sidebar) for the description of the icons on the prediction form. You can also see the class of the last race run by looking at 'Prev Race:' on my tip sheet. This is simply a quick indication of the track, class, and finish position of the horse in his last race (e.g. 3/7 means the horse finished third out of 7 horses). Of course, if you want to see the past performance in detail, view the past performance matrix.
Layoffs
Layoffs are important in the following two ways:
1. If a horse hasn't raced for more than 45 days since his last race, the horse is currently laid off. Horses that are significantly laid off, tend to not perform to their normal standards because they need a race to get back on track (no pun intended). However, the importance of layoffs varies from track to track. At tracks with better horses (e.g. Aqueduct, Gulfstream Park, Hollywood Park), even a short layoff can transform a horse from a contender to a loser. However at tracks with cheaper horses, horses can win their first race back from a long layoff.
2. If a horse's last race was coming off a layoff, the horse is bound to improve this time out. The past race was 'needed' and will usually not indicate the horse's true ability. In the past performance section if a race was coming back from a layoff, I highlight the date of the past performance in red.
Medication Change
There are essentially two kinds of medication given to racehorses, Lasix and Bute. Bute is only legal at certain tracks (typically on the West Coast).
Any horse that is using Lasix for the first time will almost always improve. I indicate this on my tip sheet with a special icon. Click here (or view the right sidebar) for the description of the icons on the prediction form.
On the other hand, Bute is very different. A horse either needs Bute to run well, or can't run at all with Bute. By looking at a horse's past performances, you can tell if they run better with or without Bute. The medication column on the past performance is indicated by a 'B' if the horse was using Bute. If a horse runs well with Bute and now is off Bute (I use an icon to indicate this), the horse will typically run down and run a terrible race. However, if a horse has always ran with Bute and didn't do well, the horse may run a big race the first time running without Bute.
Jockey/Trainer Change
Many racing enthusiasts make the mistake of betting a particular jockey. It is true that jockeys may have significantly different winning percentages. However, these people do not realize that the most popular jockeys also get the best mounts. A jockey cannot make a horse run better than the horse's natural ability. Conversely, a jockey can ruin a horse's chance to win by giving the horse a bad ride. It is the case, however, that some jockeys 'know' how to ride a particular horse better. By looking at the horse's past performance matrix, you can see which jockeys typically rode the horse well. I personally put minimal weight on the rider of the horse.
Keep this in mind: If you give the best jockey the worst horse, he/she won't hit the board. However, if you give the worst jockey the best horse, chances are he/she will hit the board and possibly even win the race.
Nevertheless, when there is a change of jockey, I highlight it on my selections form. I show the past jockey's record at the track the horse last raced, and the current jockey's record at the current track. If the record has a star next to it, that means the data was not accurate and I had to estimate the jockey's record for that track.
Trainer changes can make a big difference, especially over the span of the horse's next few races. Simply, you can compare the records between the previous and current trainers. Again, if there is a change, I highlight it on my selections form. If the record has a star next to it, that means the data was not accurate and I had to estimate the trainer's record for that track.

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Icon	Description
This is the horse's first start.
This is the horse's first start on the turf. Click here to see the section describing Turf vs. Dirt.
The horse had one or more 'Monster' workouts since his last race. Click here to see the section describing workouts.
The horse looked significantly better in his last outing compared to the horse's typical form. The horse could be in better form now or may have just had a fluke race. Typically, I rank horses by examining their form over their last several races. If the horse has improved, he could be better than his ranking shows.
The horse had an excuse on his last outing. Either something bad happened (left at the gate, bumped, etc.) or the horse was coming off a layoff and 'needed' that race. Click here to see the section describing layoffs. 'Bad' events are typically highlighted in red in the comments column of the past performance matrix. Since I rank horses over several past performances, their rank should be accurate. However, if you are looking at the past performance matrix of a horse and examine his last race, you should expect to see this horse perform better this time out.
The horse is coming off a layoff that was 180 days or more. There are also identical icons for 45, 90, and 120 day layoffs. Click here to see the section describing layoffs.
The horse's last race was recent and on a turf surface. Typically, main track horses become much tighter after a recent turf race.
The horse is a 3 year old in a claiming race with a claiming tag. Typically this is a bad sign since decent 3 year olds would be protected.
The horse is a 3 year old in an allowance race. 3 year olds are usually better than older horses in these races as they have reached the same race condition (e.g. Non-Winners of 2 Lifetime) in less time.
Blinkers have been put on for this race. Typically, this equipment change benefits horses that go right to the lead and tire. It helps them to settle in and save ground.
Blinkers have been taken off for this race.
Horses usually run much better with Lasix. Click here for a description of medication factors.
Lasix is being used on this horse but wasn't in his previous race. In addition, this isn't the first time the horse has had Lasix. In this case, check the past performance matrix to see how the horse has performed in the past with Lasix. Lasix is indicated with a 'L' in the medication column. Click here for a description of medication factors.
Lasix is no longer being used on the horse for this race. In this case, check the past performance matrix to see how the horse has performed in the past with Lasix. Lasix is indicated with a 'L' in the medication column. Click here for a description of medication factors.
Bute is being used on this horse but wasn't in his previous race. Horses that run well with Bute usually run poorly without it, and vice versa. In this case, check the past performance matrix to see how the horse has performed in the past with Bute. Bute is indicated with a 'B' in the medication column. Click here for a description of medication factors.
Bute is no longer being used on the horse for this race. Horses that run well with Bute usually run poorly without it, and vice versa. In this case, check the past performance matrix to see how the horse has performed in the past with Bute. Bute is indicated with a 'B' in the medication column. Click here for a description of medication factors.
This horse is dropping in class from his last race. Click here to see the section explaining class.
This horse is moving up in class from his last race. Click here to see the section explaining class.

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This product was created with data that was supplied by and is proprietary to Equibase Company LLC. All rights reserved. Reuse of this data is expressly prohibited.
Data provided or compiled by Equibase Company LLC generally are accurate but errors and omissions occur as a result of incorrect data received from others, mistakes in processing and other causes. WinningPonies and Equibase Company LLC disclaim responsibility for the consequences, if any, of such errors, but would appreciate having any such errors called to their attention.

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