Types of Horse Racing Wagers and Your Chances of Winning

Before you place a bet on a horse, you need to decide what type of bet you’ll place. As for the different types of bets you can place, they range from a very simple single bet on the winning horse of a race to choosing all the winning horses of six consecutive races. The information contained in the table below can help you explore your betting options:

http://horseracing.about.com/od/helpfornewfans/a/aaquickbets.htm

Listed below are brief descriptions of the common types of wagers at race tracks in Australia. It contains the minimum bets and how they work. You can place bets using these wagers in almost all types of racetracks including harness, quarter horse, thoroughbred, and greyhound races. A guide for estimating the cost of wagers that contain multiple combinations like boxes and keys are included here, too. There’s also a chart of payoffs for $2 win bets
below.

Types of Wagers

Win

Your horse must finish first in the race for you to collect. This is a $2 minimum wager in most tracks.

Place

Your horse must finish first or second in the race to collect. This is a $2 minimum wager in most tracks.

Show

The horse that you pick must finish first, second or third in the race for you to collect. This is a $2 minimum wager in most tracks.

Exacta

You choose two horses in a particular race with this wager. They must come in first and second in EXACT in order for you to collect. This is a $2 minimum wager in most tracks.

Exacta Box

You also pick two horses from a particular race in this wager. They must come in first and second in EITHER order for you to collect. This bet has multiple wagers in combination and is a $1 minimum wager in most tracks.

Trifecta

In this wager, you pick three horses from a particular race. They must come in first, second, and third in EXACT order for you to collect. This is a $2 minimum wager in most tracks.

Trifecta Key

You pick three horses from a particular race in this wager. You choose one horse to win which is called the key horse. This horse must come in first followed by the other two horses second and third in any order so you can collect. You may pick more than two horses for the second and third in this bet. This means if any two of those horses finish in second and third positions, you’ll win. This wager also has multiple wagers in combination and is a $1 minimum wager in most tracks.

Trifecta Box
In this wager, you pick three horses from a particular race. They must finish first, second, and third in any order for you to collect. Since this bet is also a multiple wagers in combination, it is a $1 minimum wager in most tracks.

Superfecta

You pick four horses from a particular race in this wager. They must come in first, second, third, and fourth in EXACT order for you to collect. This is a $2 minimum wager in most tracks.

Superfecta Box

You pick four horses in a particular race in this wager. They must finish first, second, third, and fourth in ANY order so you can win this bet. This wager also has multiple wagers in combination and is a $1 minimum wager in most tracks. But in some tracks, it can even go as low as 10 cents for the minimum.

Superfecta Key

You pick four horses from a particular race in this wager. You pick one horse to win the race which is called the key horse. Then it should be followed by the other three horses second, third, and fourth in any order for you to collect. Like in the trifecta key, you may pick more than three horses in second, third, and fourth, which means if any three of those horses can finish in those positions you’ll still win. You may pickup to four horses and they must finish first, second, third, and fourth in ANY order. This bet also has multiple wagers in combination, so it is a $1 minimum wager in most tracks. But like with the superfecta box,in some racetracks it even go as low as 10 cents for the minimum.