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Just seeing horse racing is excellent, but the genuine thrill of the game is the ability to put your money where you mouth is and bet on the horses. If you want to bet on all the actions and you do not wish to drive to the local track or OTB, AND you live in a state which allows ADW (Advance Deposit Wagering), you can bet over the net or the telephone through one of many sites.
Below is a listing of a few of the larger ADWs that people use to wager. Every site is different; some supply free video streamingothers charge a monthly fee or a”per wager” fee based on your handle, and a few give you rebates based on how much you bet. In case you choose to sign-up having an ADW, make sure you read all of the rules and requirements. Many ADWs are likely to no-wagering fees and absolutely free video, but you need to always do your homework before you jump.
Additionally, like the TV networks, not all of ADWs carry every track. Ensure you check what tracks each website allows you to bet on because you do not wish to sign up having an ADW that does not permit you to bet on Keeneland in case you really like to bet Keeneland.
[Note: In case you don’t know whether your state allows you to bet through an ADW, it is pretty simple to discover. Go to one of those websites and attempt to sign-up. When you put in your address, the machine will allow you to know whether they can take bets from you or not. Also, an ADW will request your Social Security number. They have to do this because they must report to the IRS any winnings over $600, plus they must withhold taxes for any winnings over $5,000. Should you hit a trifecta that pays $1,000, that amount gets reported on the feds. Should you hit on a superfecta that pays $10,000, you will have 25% removed until your winnings are deposited right into your account]
Below is a brief list of the big, well known ADWs. There are a number of others out there – some great, some not so good. We make no representation about any of them; a few we have used in the past, others we have never played .
ExpressBet
TVG
TwinSpires
BetAmerica
Bovada
The Way to make a wager on horse racing
Betting Terminology
Okay, with that little bit out of the way, let us take a look at the betting lingo and the types of wagers one can make on an equine athlete. Below is the smorgasbord of wagering opportunities offered by Churchill Downs on Derby Day:
WIN: A bet on a horse to win (in case you do not understand this you probably should not be betting)
PLACE: A bet on a horse to finish either 1st or 2nd.
SHOW: A bet on a horse to finish either 1st, 2nd or 3rd.
These are the standard bets that everybody is acquainted with. They are easy, straight forward, it’s easy to calculate the cost, and they’re not hard to make. Where things start to become more complex is with what are known as the exotic bets. Below are the exotic wagers provided by Churchill Downs this weekend:
EXACTA: A wager choosing the 1st and 2nd place finishers in a hurry.
TRIFECTA: A wager choosing the 1st, 2nd and 3rd place finishers in a race.
SUPERFECTA: A wager picking the 1st, 2nd, 3rd, and 4th place finishers in a hurry.
DAILY DOUBLE: A bet choosing the winners of 2 races, typically two consecutive races.
PICK 3: A bet picking the winners of three consecutive races.
PICK 4: A wager choosing the winners of four consecutive races.
PICK 5: A bet picking the winners of five consecutive races.
PICK 6: A wager choosing the winners of six consecutive races.
The odds: how much you’ll win
Wagering on horses is performed via pari-mutuel wagering, a system of wagering where each participant is betting against other players, not the home. The track requires a proportion of the total pool (usually 15 to 20%) and the rest of the money is paid out to players who maintain the winning tickets. The odds represent what percentage of the total pool every horse is getting. The complete generally adds up to more than 100 percent as it includes the track take. Below is a odds-percentage conversion graph for average odds in horse racing.
To figure you just how much you’ll get paid if you hit your win wager, simply divide the numerator of the odds by the denominator, multiply that number by the amount bet, then put in the amount bet.
A $2 win bet on a horse in 4/1 chances:
4 x 2 + 2 = 10 A $10 win wager on a horse at 7/2 odds:
3.5 x 10 + 10: $45
Position and Show payouts are somewhat more challenging to calculate since monitors don’t exhibit the chances on those stakes. Normally, they cover less than half what the winning chances play (unless the horse is a huge longshot along with the preferred does not finish in the top three).
Figuring out the payouts on exotics are a mixed bag; monitors display the”Will Pays” for exactas and daily doubles, but you won’t have an idea as to what your trifecta, superfecta, Pick 3, etc., will pay until the sequence is over. Broadly speaking, trifectas and superfectas will return bigger amounts, but you should be careful, playing all the favorites at a trifecta is most likely going to return a little amount especially compared to how much your bet cost. If you spend $120 to a superfecta box that comes with a lot of low priced horses, you are going to be very disappointed if it strikes. The trick to hitting larger scores is to find some more expensive horses to play along with shorter ones that are priced.
How much will it cost?
We have got all these exotic bets where you are trying to pick the order of finish or the winners in numerous races. Many first time bettors think this to play a exacta (or tri or some other exotic) requires you to use two (or three or even four) horses in your drama. You can choose as many horses as you need but the more horses you choose, the more expensive your ticket becomes. The very first step in determining what a specific wager will cost would be to know the minimum amount required for each bet. In Churchill Downs, here are the minimum amounts required for every bet offered:
Win, Place, Show: $2
Exacta: $2 Straight; $1 Wheels and Boxes
Trifecta: $0.50
Superfecta: $1.00 on Derby Day (All other days the minimum is $0.10)
Daily Double: $1
Pick 3, Pick 4, Pick 5: $0.50
Pick 6: $2
Two additional exotic betting terms which are connected to wager cost are”BOX” and”WHEEL”, and they apply particularly to exactas, trifectas and superfectas.
A bet that is BOXED means that your selections can finish in any order. For instance, say you enjoy the #1, #2, and #3, you want to play them in an exacta however you do not know which one you wish to select on top (to win). You could”BOX” these three horses at an exacta and you’d win if any of those three end first and second.
A WHEEL (or PART WHEEL) is different than a box since it involves selecting different horses in each position of the wager. As an example, let’s say you like the #1 to win, but think that the #2, #3 and #4 may finish second. In that scenario you would bet an exacta wheel where the wager could be set up to cover if the #1 wins and either 2-3-4 finish next. If any of 2-3-4 win and also the #1 finishes 2nd, you would not win with this exacta wheel.
You could be thinking,”Why would anyone NOT ship an exacta, trifecta, or super since our selections can complete in any order, while with a wheel is less margin for error?” The short answer: since boxing a bet prices more.
Straight wagers are simple to compute: a $20 win bet costs $20. No matter there.
A box bet is calculated by multiplying the wager amount from the total number of horses chosen, and then multiplying by the total number of horses selected, minus one. Or, stated another way:
Selections: 1-2-3-4-5 (five horses)
$1 Exacta Box Price: $1 x 5 x 4: $20
Make sense? To get trifecta and superfecta boxes you figure out the cost precisely the exact same way but maintain subtracting one from the total amount of horses in each leg. For instance:
Selections: 1-2-3-4-5
$1 Trifecta Box Cost: $1 x 5 x 4 x 3: $60
Selections: 1-2-3-4-5
$1 Superfecta Box Cost: $1 x 5 x 4 x 3 x 2: $120
You can see how the prices begin to escalate in a box situation because you’re playing every possible combination with these numbers.
With a WHEEL wager, the cost is kept down however you will need to decide which horses you enjoy in certain places. Let’s take the above situation again. Let’s say you like the #1 and #2 to win, but think any of these five could finish 2nd. This is how you could calculate that wager cost:
Choices: 1-2 to finish 1st, 1-2-3-4-5 complete 2nd
$1 Exacta Wheel Cost: $1 x 2 x 4: $5 8 Because you are using the 1 and 2 in both the triumph and set slots, then you calculate the wager by multiplying the amount of horses at the first leg by the number of horses in the next leg, minus one. Should you excluded the 2 and 1 from the second position but nevertheless employed five horses, then the bet would compute as below:
Choices: 1-2 to finish 1st, 3-4-5-6-7 to complete 2nd
Cost: $1 x 2 x 5: $10
Right away you can see an exacta wheel bet costs about half as far as the box situation since you’re playing fewer combinations. There is a greater risk, but the benefits (and gain margin) are better since you are not wasting money on combinations that you don’t believe will come in.
(Side note: if you were at the trail or a OTB and wished to make either of these exacta stakes in person, you’d walk into the window and say:”Track Name, Race Number: $2 Exacta Box, 1-2-3-4-5″ or”Track Name, Race Number: $2 Exacta, 1 and 2 with 1-2-3-4-5″. Saying”with” is the way you separate horses out of the very first, second, third or fourth ranks to the clerk. And check your ticket until you walk away.)
Calculating trifecta and superfecta wheels follows the same formula as the exacta bet above. However, if you want an easier way to compute your wagers, it is possible to find an assortment of waging calculators on the web, including a nice one at WinningPonies.com.
So we’ve discussed the perpendicular exotics (exacta, trifecta, superfecta), let’s talk about the horizontal bets, which are some of the most well-known bets at the track. A horizontal bet isn’t any bet that involves betting on a set of races, rather that only one specific race. A Pick 4, where you try to choose the winners of four consecutive races, is a horizontal wager and can pay very well, based on the probability of those horses that triumph during the sequence. As with wagers, it is possible to pick as many horses as you need but the price of your ticket rises with each horse inserted to the mix.
Let us say You’re looking at a four race arrangement where you Enjoy the following horses in each race:
Race 1: 1-2
Rush 2: 1-2-3-4
Race 3: 1 Race 4: 1-2-3-4-5-6-7
To accumulate on a Pick 4 wager using the horses above, you would need a minumum of one of your selections to acquire in each leg; pretty straightforward. Using only one horse in a particular race, as is done in the 3rd race in our case, is called”singling” a horse. Singles are crucial since they help to reduce the cost of your ticket.
Calculating the cost of a vertical bet is simple: just multiply the wager amount by the amount of choices in each leg. Using our above example, that Pick 4 ticket would cost the subsequent amount.
$0.50 Pick 4: $0.50 x 2 x 4 x 1 x 7: $28
The ability of this”single” should be evident; when we had selected two, three or even four horses at that 3rd race, our ticket would have doubled, tripled or quadrupled in cost. It’s not mandatory that you use one; if you’ve got the money to spend and you need better policy, pay off. However, most players like to attempt to locate 1 race where they possess a prime single so that they can use more horses in the races at which things seem more wide-open.
Moreover, you do not have to play every single wager to the minimal amount. Our Pick 4 case above can be played to some $1 base, or $1, or whatever you want. Of course, the more elaborate the base sum, the more expensive your ticket becomes.

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