The best way to bet on horse races is to set a budget and stick to it. It’s easy to get carried away gambling and lose more than you can afford to.
Luckily, horse racing is similar to the lottery. In both cases, it’s possible to reliably make money, despite the house taking a cut of each bet.
Place bets
You can place win bets (wagering on which horse will come in first), place bets (wagering on which horses will run second), and show bets (wagering on which will finish third). The odds of each horse to win are displayed on the DK horse app and tote board and may change dynamically up until race time.
To place a bet, simply state the track and race number, the amount you want to wager, and the runners you wish to select. Then verbally announce your bet to the teller. The teller will then verify the bet and process it. If your bet wins, you will receive your stake back plus the winnings from the race odds. If your bet loses, you will forfeit the money you wagered.
Exacta bets
An Exacta is a bet on two horses to finish first and second in the correct order. Its payout is higher than that of a straight win or place bet, but it can also be riskier. To manage your risk, consider using a $2 exacta wheel or a part wheel instead of a single bet. It can be more efficient and cheaper than a full exacta box, which multiplies your stake by six.
If you’re confident that one horse will win, you can make a “key” selection on top (to win) and cover the other horses in second and third places in any order. You can also box your selections, which increases your odds of winning. This type of wager is more expensive than a straight exacta, but can pay off handsomely if your horses are long shots.
Trifecta bets
Trifecta bets are the most challenging type of horse race betting, but can be rewarding if you guess correctly. They involve predicting the horses finishing in first, second, and third place and the order in which they finish. This type of wager is a good option when you have confidence in one or more horses and are uncertain about the others. A trifecta key box is an efficient way to manage this risk while keeping your costs low.
The other major type of trifecta is the full or part wheel. This bet allows you to choose more than three horses, but still covers all possible combinations of the horses. This increases your chances of winning, but it can also be more expensive than a straight trifecta.
Superfecta bets
A Superfecta bet involves selecting four horses to finish first, second, third and fourth. It is a challenging bet but can pay huge amounts when it hits. You can choose a straight superfecta, a superfecta wheel or a superfecta box. Each one has different costs and mechanics.
A straight superfecta requires that the selected horses finish in exact order. This means that Horse A must come in first, Horse B must finish second and Horse C must finish third. A boxed superfecta, on the other hand, allows for any combination of horses to finish in those positions. This is a much more cost-efficient way to bet a superfecta, as you can lower your costs based on good handicapping. You can also place a key bet, which includes only one horse in each of the three keys.
Parlay bets
If you’re betting on virtual horse races, it’s important to stick to your win and loss limits at all times. This is especially true if you are playing in-play, which is more fast-paced and harder to control than live betting.
One of the best ways to increase your odds of winning is by “boxing” your selections in Exacta, Trifecta and Superfecta bets. This strategy makes your wager more expensive, but it can increase your chances of winning a large amount of money.
The odds of a race can change rapidly, so it’s important to be patient and wait until just before the race starts. This is because pari-mutuel pools dynamically adjust the odds up to just before the race starts based on the level of play each horse receives.
