Throughout history, horse racing has managed to become one of the biggest sports in the world attracting millions of fans with some of the most popular races. Apart from being an extremely exciting sport to watch, horse racing is also very popular due to its betting presence. 

Horse racing gives bettors a chance to win a lot of money on a single bet just because the odds of some outcomes in a race can be very high due to the unpredictability of racing outcomes.

However, horse racing bets are not easy to win. They require keeping up with horse racing updates at all times, keeping track of horse’s performances, and acknowledging all the different factors that might impact the outcome of a race. That is why you should keep up with the calendar of events in popular tracks, such as Saratoga: https://www.twinspires.com/race-tracks/saratoga 

Additionally, even though horse racing betting is simple, there are still a few things you need to understand in order to increase your winning chances. In today’s article, we will talk about all the different types of horse bets you should know before placing bets.

Types of Bets in Horse Racing

There are plenty of bets in horse racing that can mainly be categorized into two different groups, straight bets, and exotic bets. Straight bets are simple to understand and they are the most common choice for every horse race. On the other hand, exotic bets are more complex and come with a higher payout.

Straight Bets

There are three types of straight bets, such as:

• Win

• Place

• Show

They are simple to understand, which is why they are very popular among people that don’t know much about horse racing betting. The win bet is quite straightforward and it covers one horse that should win the race.

The place bet is wagering on the horse that might finish first or second. And the Show bet covers one horse that can finish in the top three positions in a race.

Exotic Bets

Exotic bets are a bit more complicated and require you to choose certain horses that will come in different positions. They are more difficult to win than straight wagers, which is why they come with a higher payout.

There are four different types of exotic bets, such as:

• Exacta
• Quinella
• Trifecta
• Superfecta

Let’s highlight them individually just to get a better understanding of how the exotic bets work in horse racing.

Exacta Bet

The exacta bet allows you to choose your top two favorite horses that will finish in first and second position in a race. For example, you can choose horse number eight to win the race, and horse number four to come in second.

Quinella

Quinella is very similar to an Exacta bet where you should pick the top two finishers in a race, but here they don’t have to be in the exact order that you’ve picked.

Trifecta

Just as the name suggests, this is another bet that works the same way as the Exacta bet, but instead of picking two horses, you are picking the top three finishers in a race in the exact order. Basically, the trifecta bet allows you to choose three horses that will win/place/show in the exact order.

Superfecta

If you want to up the stakes and you are feeling lucky, you can try out the Superfecta bet that allows you to choose the first four finishers in a race in the exact order. Since horse racing is a very unpredictable sport, where it is very difficult to pick one winner of the race, picking the top four finishers in the exact order is almost impossible.

This is why the superfecta bet usually comes with the highest payout, and in some cases, people have managed to win millions of dollars on a single bet.

Final Words

If we consider the win/show/place bets as one, these are the top 5 horse racing bets you should know about before making a wager. Remember, picking the winner of the race is all about making the right research and considering all the factors that can have an impact on the race.