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Horse Racing Wager Types
Win: If your horse wins the race, you win the bet.
Place: If your horse runs first or second, you win the bet.
Show: If your horse runs first, second or third you win the bet.
Exacta: This is a bet involving two horses. If the two horses you pick (for example, 3,4) run in the order picked – the 3 would have to win and the 4 would have to run in second place – you win the bet.
Exacta Box: This wager is actually two exacta bets on one ticket using the same 2 horses. For example, 3,4 – 4,3. Your horses can run first and second in either order for your bet to be a winner.
Exacta Wheel: If you are sure of the first or second place finisher but unsure of the other spot you can “key” one horse, for example the 4 and bet “with all” to finish in the other position.
Exacta Partial Wheel: Like above only instead of “with all” you can key your horse and bet with a selection of others to finish in the other position.
Quinella: Like the exacta box but only one bet instead of two. The payout is usually not quite as high as an exacta bet. Not offered for every race at every track.
Daily Double: Like a parlay bet involving two consecutive races, usually the first two races on a card and the last two races on a card. Some tracks offer a rolling Daily Double for all races. You must pick the winner of the first race and the winner of the next race. Bets must be placed before post time of the first race. If one of the legs of the double is a loss the entire wager will be deemed a loss.
Daily Double Wheel: Like the exacta wheel, if you are sure of the winner of one of the two races, you can key that horse and bet ‘with all’ on the other race of the bet.
Daily Double Partial Wheel: Same as above but rather than betting ‘with all’ you can select various others of your choice.
Trifecta: This wager involves the picking first three finishers in a race in exact order (similar to an exacta but with three horses instead of two). The payout is usually much higher than that of the exacta.
Trifecta Box: Like the exacta box, this would actually be 6 bets on one ticket. You are betting all possible combinations of a three-horse wager. For example, 3,4,5 – 3,5,4 – 4,3,5 – 4,5,3 – 5,3,4 – 5,4,3.
Trifecta Wheel: Same as the exacta wheel where one horse is keyed in one of the positions (first, second or third) and all other horses are placed in the other two positions.
Trifecta Partial Wheel: Same as the trifecta wheel but instead of betting with all, selected combinations are placed in the other two positions.
Pick 3: This wager includes picking the first place finishers of three consecutive races. The wager must be placed before post of the first race. If one leg of the pick 3 is a loss the entire wager will be deemed a loss.
Superfecta: This wager involves picking the first four finishers in a race in exact order. The payout for this wager can be very high because the chances of winning the bet are pretty low. Not available for all races especially races with fewer than 8 runners. Superfecta box, superfecta wheel and superfecta partial wheel also available.
Pick 4: The first place finishers of four consecutive races must be picked in order to win this wager. The wager must be placed before post time of the first race. If one leg of the pick 4 is a loss the entire wager will be deemed a loss.