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Horse Racing Betting Types Explained - Place bet, exacta bet and more

There’s so many types of horse betting out there, but don’t worry if you maybe don’t fully understand the terminology. I’ve put together this handy summary for fellow punters!

Win Bet

Starting with the obvious, a bet to win is pretty much what it says on the tin. You are backing a horse to win a race it is entered in. You can do this on the day of the race or beforehand in an ante post market. If you go ante post and don’t have non-runner no bet terms, you will lose your money if the horse does not run in the race though.

Place Bet

Another of the popular horse racing betting types is for a horse to finish in a place. In the UK, what is considered a place will depend on the terms and number of horses in a race. Broadly speaking there must be at least eight runners in any horse race to get up to third for a place bet. You are backing a horse to finish first, second or third in this case. Handicaps containing 16 or more runners will allow place bets to include up to fourth place. Bookmakers often offer special promotions in the build-up to or on the day of a major handicap relating to horse racing place betting where extra places are paid.

Each-Way Bet

If you back a horse each-way, then you are placing two bets; one on it to win the race and another of the same value but for a fraction of the win odds (usually a quarter or a fifth) as a place bet. This means you don’t lose out entirely - indeed you may still make a profit - if a horse doesn’t win and only finishes in a place.

Exacta bet

Also known as a (straight) forecast in Great Britain and Ireland, an exacta is where you back two horses in one bet stating a preference for one that will finish first and the other second. What you win off such a wager depends entirely on the prices you take on the respective horses.

Quinella bet

Better known in the UK as a reverse forecast, a quinella is a bet where punters select two horses that they are backing to finish first and second in any order. Again, your winnings will depend on the odds of the horses you are backing.

Trifecta bet

The trifecta is another of the types of horse betting which relate to backing more than one horse in the same race. Here, you are wagering that a particular horse finishes first, second and third in a specified order. Winnings are determined by a combination of the prices taken for your three selections.

Superfecta bet

Although rare in the British Isles, there’s another extension of betting on a single race which is popular in the USA. Superfectas are bets where punters back four horses to finish first, second, third and fourth in the correct order. What you win off such a bet if it comes off will be massive.

Daily double bet

And finally, another of more common horse racing betting types from overseas is the daily double bet. Punters have to pick the winners of two particular races at a course specified by the bookmaker in question they are betting with. Races are not necessarily consecutive, but winnings you receive will be at higher odds than if you backed the two horses separately.

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There’s so many types of horse betting out there, but don’t worry if you ...

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