How to Bet on the Ponies
Straw hat? Check. Binoculars? Check. Grab this handy guide (and perhaps a lucky rabbit’s foot) and you’re off to the races.
1. Know Your Steed
When betting big bucks at the track, a program – your playbill for that day’s races – is crucial. The program provides in-depth career stats on the horses and jockeys, ensuring your selection isn’t made solely on the originality of the horse’s name.
2. Set Your Limits
A day at the races is an event to be enjoyed, so dress up and make it an occasion. As with any game of chance, know how much you’re willing to lose before you start.
3. Basic Bets
Modest payouts and higher odds define Show bets, which require a first-, second- or third-place finish, while Place bets are paid if the horse finishes first or second. Win bets are for first-place finished and vary depending on win odds, while Quinella wagers are paid for two picks finishing first and second in either order.
4. Difficult Bets
Only the well informed (or extremely lucky) should play these odds. Your horses must finish first and second in exact order for Exacta betting, while Daily Doubles require two consecutive win picks. Too tame? Pick 3 ups the ante with three consecutive win selections needed for a payout.
5. Einstein Bets
Play these odds only if you’re a veritable Einstein yourself (or your kid is great at math). Trifectas are paid if you choose the top-three finishers in exact order, while Superfectas pay out for the top four in exact order. Pick 4 and Pick 6 bets require you to choose the winner of four and six consecutive races, respectively.
6. The Payoff
At a cost of $2, basic bets can pay from $2.20 to $34.00 at odds of 1/9 and 16/1 respectively. Riskier wagers yield much more. In fact, payouts at past Breeder’s Cup events have been as high as $1,950 for $1 Trifectas and over $15,000 for $1 Superfectas.
