The article outlines various types of horse racing wagers available through online platforms, mirroring those at member tracks, excluding parlay and exchange wagers. Basic wagers include Win, Place, and Show, with payouts determined by the pari-mutuel system. The article details specific wager types such as Daily Double, Exacta, Quinella, Trifecta, Superfecta, and multi-race bets like Pick Three, Pick Four, and Pick Six. It explains how to calculate costs for these wagers, including modifiers like Straight, Wheel, Key, Box, Key Box, and Power Box. The article also discusses Entries/Joint Entries and the significance of odds and payoffs in wagering.
What types of wagers are accepted?
We support nearly all wager types offered by our member tracks. The wagering menu will virtually mirror the tracks' wagering menus with the exception of parlay wagers and exchange wagers such as twin-trifecta or tri-super which require an exchange ticket.
Win, Place and Show Wagering
The basic types of wagers online are win, place and show. If you bet on a horse to win, the horse must finish first. If you bet to place, the horse can finish first or second. If you bet to show, the horse can finish first, second or third. The show wager is the most conservative wager because it gives you three chances to cash your ticket.
Odds on the tote board are for win wagers only and are approximate with the final payoff based on the final count of wagers from all simulcast outlets. Wagering on horseracing is based on the "pari-mutuel" system. In the pari-mutuel system, the track or simulcast outlet gets a percentage of what is wagered called the "takeout." The takeout pays for racetrack expenses, purse money, state and local taxes, etc. Payoff odds are calculated by sharing the remaining pool (after takeout) among all placed bets. Whether a favorite wins or it's the longest shot on the board, the track or simulcast outlet gets the same percentage out of your wager. Tracks want you to win so you will re-bet that money.
While a show pool in the US typically pays the top 3 finishers of a race, many international host tracks manage show pools differently. In some of those cases, for a show pool to pay three finishers, there must be greater than a predetermined number of betting interests in the race. If the field drops below that quantity, the Host track will only pay the first two finishers.
In all cases, a US association pays what the Host tote system tells it. All rules for pools are dictated by their governing body. A similar example to this would be the USA Triple (aka Pick 3) in how early scratches are processed. Some states will refund wagers on that pool for runners that are scratched before the close of wagering, while others keep the scratched money and process it as a Post Time Favorite, just like other PICK Pools. The only place to really know how it will be handled, is to be familiar with that states wagering rules.
Win Odds and Approximate Payoffs
1-9 $2.20 5-2 $7.00
1-5 $2.40 3-1 $8.00
2-5 $2.80 7-2 $9.00
1-2 $3.00 4-1 $10.00
3-5 $3.20 9-2 $11.00
4-5 $3.60 5-1 $12.00
Even $4.00 6-1 $14.00
6-5 $4.40 10-1 $22.00
7-5 $4.80 12-1 $26.00
3-2 $5.00 15-1 $32.00
8-5 $5.20 20-1 $42.00
9-5 $5.60 50-1 $102.00
2-1 $6.00 60-1 $122.00
99-1 over $200*
* 99-1 is the maximum that most track tote boards will show but it can generally be assumed that the odds are greater than 100-1.
Payoffs represent your profit PLUS the return of the $2 you originally bet. A winner at 5-2 means that will pay $5 profit for every $2 wagered. The payoff is $7 which is the profit ($5) plus the cost of your wager ($2).
Daily Double
To win a Daily Double wager, you must select the winner in two consecutive horse races. To calculate the cost of a Daily Double wager, multiply the number of horses in the first leg by the number of horses in the second leg, times the amount of your Daily Double.
For example, a basic Daily Double usually costs $2.00 (1 X 1 X $2.00 = $2.00) In this example, we have selected one horse to win the first race and one horse to win the second race.
You may select more than one horse in each race in your Daily Double. For example, here is a $2 Daily Double Part Wheel: Horse 1,2,4 with 1,5,7. The cost of this wager is calculated as follows: (3 X 3 X $2.00 = $18.00). In this example, you selected three horses in each race which give you nine combinations to win (3 X 3 = 9). Each of these combinations costs $2.00 so the total amount of the wager is $18.00.
A version of this wager that includes more horses is the $2 Daily Double Wheel: 1 with All. In this example, you select one horse in the first race and all possible horses in the second race. For this example, suppose the second race has ten horses in it. The cost of this wager would be (1 X 10 X $2.00 = $20.00).
Exacta (also known as Perfecta)
An Exacta, also known as a Perfecta at some horse racing tracks, means you must select the first two finishers in exact, or perfect order. By playing an Exacta Part Wheel, you increase your chance of winning while also increasing your cost. Play the wheel or part wheel if the horse you have on top is a longshot or; if you like the favorite to win but have a couple of longshots that could be second.
$2 Exacta Ticket Costs
| Basic Exacta 2 & 6 | $2.00 (one combination) |
Do an Exacta Part Wheel if you like a horse to win but several horses you like to come in second.
| Exacta Wheel 1 with all (ten horses in race) | $18.00 (nine combinations) | |
| Exacta Part Wheel 2 with 3,4,5,6 | $8.00 (four combinations) | |
| Exacta Part Wheel 2,3,4 with 2,3,4,5,6 | $24.00 (12 combinations) |
To figure the cost: Multiply the number of horses used on top or the win position of the exacta with the number of horses used in the second position (less one if the same number is used on top in the exacta). You can also do a $1 exacta which pays half of the $2 exacta payout and therefore cuts your investment in half. Note some tracks offer a $1 exacta as a base wager amount.
Do you see a horse that has "seconditis"? You can also do an Exacta Wheel or Part Wheel with your top choice or choices in the second position such as:
| Exacta Part Wheel 3,4,5,6 with 2 | $8.00 (four combinations) | |
| Exacta Part Wheel 2,3,4,5,6 with 2,3,4 | $24.00 (12 combinations) |
The Exacta Box means your selections can finish first or second in any order. When using three or more horses in your Exacta Box, any two of your horses must finish first and second.
$2 Exacta Box Costs
| Exacta Box 1,2 | $4 (two combinations) | |
| Exacta Box 1,2,3 | $12 (six combinations) |
To figure the cost: Multiply the number of horses used by the number of horses used less one.
Other exacta combinations include:
| Exacta Box 1,2,3,4 | $24 (12 combinations) | |
| Exacta Box 1,2,3,4,5 | $40 (20 combinations) | |
| Exacta Box 1,2,3,4,5,6 | $60 (30 combinations) | |
| Exacta Box 1,2,3,4,5,6,7 | $84 (42 combinations) |
A key box is a type of exotic bet where you “key” one horse and combine it with multiple other horses in different positions for exacta, trifecta, or superfecta wagers.
- Key Horse: The horse you are most confident will finish in a specific position (often first).
- Box Horses: Other horses you want to include in combination with your key horse.
- How it works:
- For a key box exacta, you pick your key horse to win, then pair it with two or more other horses that could finish second.
- For a key box trifecta, the key horse must finish first, and the box covers multiple possible second and third place combinations with other horses.
Quinella
In a Quinella, you select two horses to run first and second. They can finish in either order. It is basically the same as an Exacta Box. A $2 Quinella will have the same total cost as a $1 Exacta Box and should theoretically pay about the same. Sophisticated handicappers will look at the probable payoffs for the Exacta and Quinella to see if there is an advantage to either the Exacta or Quinella pool. An Exacta with the same total cost as the Quinella could pay considerably more if a favorite does not win. If a favorite wins, the Quinella could pay proportionally more.
To figure the cost of a Quinella, use the same method as figuring the cost of an Exacta Box, then divide that total in half.
Omni / Swinger
In an omni winner, you select two horses who must both finish third or better. They can finish in any order. (They can finish 1st and 2nd, 2nd and 3rd or 1st and 3rd.) Please note that the Omni / Swinger wager is offered through the TV, Express or Pro wagering platforms and over the phone with a live teller. It is not available through the IVR.
Trifecta
In a Trifecta, you are selecting the first three horses in exact order of finish. In a Trifecta Key, you are selecting one horse to finish first and any two of the other horses you selected must finish second and third.
$1 Trifecta Key
| 1 with 2,3,4 (2,3,4 also in third position) | $6 (6 possible combinations) | |
| 1 with 2,3,4,5 (2,3,4,5 also in third position) | $12 (12 possible combinations) | |
| 1 with 2,3,4,5,6 (2,3,4,5,6 also in third position) | $20 (20 possible combinations) | |
| 1 with 2,3,4,5,6,7 (2,3,4,5,6,7 also in third position) | $30 (30 possible combinations) | |
| 1 with 2,3,4,5,6,7,8 (2,3,4,5,6,7,8 also in third position) | $42 (42 possible combinations) |
To figure the cost of a Trifecta Key, multiply 1 times the number of horses you used times the number of horses you used minus one. For example, a $1 Trifecta Key 1 with 2,3,4,5 would be 12 possible combinations (1 x 4 x 3 = 12).
Trifecta Part Wheel
In a Trifecta Part Wheel, you may have one or more horses in the first position, one or more horses in the second position and one or more horses in the third position.
| $1 Trifecta Part Wheel 1 with 2,3,4 with 2,3,4,5 | $9 (9 possible combinations) | |
| $1 Trifecta Part Wheel 1,4 with 1,2,3,4 with 1,2,3,4,5,6 | $24 (24 possible combinations) |
You can also do a Trifecta Part Wheel with your key horses in the second or third position such as:
| $1 Trifecta Part Wheel 1,2,3,4 with 1, 4 with 1,2,3,4,5,6 | $24 (24 possible combinations) |
To figure the cost of a Trifecta Part Wheel, multiple the number of horses in the first position, times the number of horses in the second position minus 1, times the number of horses in the third position minus 2.
Trifecta Box
In a Trifecta Box, any of the horses you selected must finish first, second or third in any order.
| $1 Trifecta Box with three horses | $6 (6 possible combinations) | |
| $1 Trifecta Box with four horses | $24 (24 possible combinations) | |
| $1 Trifecta Box with five horses | $60 (60 possible combinations) | |
| $1 Trifecta Box with six horses | $120 (120 possible combinations) | |
| $1 Trifecta Box with seven horses | $210 (210 possible combinations) |
Superfecta
In a Superfecta, you are selecting the top four horses in exact order of finish.
Superfecta Part Wheel
You can key one or more horses in any of the four positions. If you like a particular horse, you may want to key that horse on top.
$1 Superfecta Key
| 1 with 2,3,4 (2,3,4 also in third and fourth position) | $6 (6 possible combinations) | |
| 1 with 2,3,4,5 (2,3,4,5 also in third and fourth position) | $24 (24 possible combinations) | |
| 1 with 2,3,4,5,6 (2,3,4,5,6 also in third and fourth position) | $60 (60 possible combinations) |
You can also do a Superfecta Part Wheel with one or more horses in each of the four positions.
| $1 Superfecta Part Wheel 1 with 2,3,4 with 2,3,4,5 with 2,3,4,5,6 | $27 (27 possible combinations) |
The dime Superfecta wagers allows you to play this wager at the $.10 increment. Not all tracks offer the dime superfecta.
Superfecta Box
| $1 Superfecta Box with four horses | $24 (24 possible combinations) | |
| $1 Superfecta Box with five horses | $120 (120 possible combinations) | |
| $1 Superfecta Box with six horses | $360 (360 possible combinations) | |
| $1 Superfecta Box with seven horses | $840 (840 possible combinations) |
Pick Three
The object of the Pick Three is to pick the winners in three consecutive races. To figure the cost of the Pick Three, multiply the number of horses in the first leg, times the number of horses in the second leg, times the number of horses in the third leg. For example, a Pick Three Part Wheel 2 with 4,6,9 with 1,2,7,8,10 = (1 horse x 3 horses x 5 horses) = 15 possible combinations or $15 based on a $1 Pick Three.
Pick Four
The object of the Pick Four is to pick the winners in four consecutive races. To figure the cost of a Pick Four, use the same formula as described for the Pick Three but multiply times the number of horses in the fourth leg. For example, 2 with 4,6,9 with 1,2,7,8,10 with 3,7,8 = (1 horse x 3 horses x 5 horses x 3 horses) = 45 possible combinations or $45 for a $1 Pick Four.
Pick Six
Select the winners in six races in a row. The Pick Six will have a carryover if no one has selected all six winners. There is a consolation payoff for having the most number of winners if no one has selected the Pick Six and a consolation payoff for having 5 of 6 winners when the Pick Six is hit.
To figure the cost of the Pick Six, multiply the number of horses in each race. This will be the total if the Pick Six at this track is a $1 wager. Multiply your total times two if the Pick Six is a $2 wager. For example, two horses in each race would be 2 x 2 x 2 x 2 x 2 x 2 = 64 possible combinations = $64 if a $1 Pick Six = $128 if a $2 Pick Six. Note - most tracks have a $2 base wager amount on the Pick Six.
Three horses in a each race would be 3 x 3 x 3 x 3 x 3 x 3 = 729 combinations = $729 for a $1 Pick Six = $1,458 for a $2 Pick Six.
You can go deeper in other races if you can select a single or two in your Pick Six. For example, 1 x 8 x 2 x 1 x 6 x 5 = 480 combinations = $480 for a $1 Pick Six or $960 for a $2 Pick Six.
Pick All Type of Wagers
The Pick All (a Pick 8 if there are 8 races or a Pick 10 if there are ten races, etc) is available primarily at the California horseracing tracks only but is a great wagering online opportunity. The object of the Pick All is to pick horses in each race that could be first OR second in each of the races on the card. This gives each of your horses two chances in each of the Pick All races.
To figure the cost of this wager, multiply the number of horses in each as you did in the Pick Six. With 8 or more races comprising the Pick All, you should narrow down your picks. For example, two horses in each race in a Pick All with 8 races would be: 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 = 256 possible combinations or $256 for a $1 Pick All Part Wheel. You can cut this down to a $64 total wager by having two singles and six races with two horses in those races. Pick All players pools do not reach the size of Pick Six pools so it does not pay to put too much into this type of wager. The Pick All is paid out every day and there is no carryover.
Entries / Joint Entries
When wagering online, you will always use the program number assigned for each horse. If you see a #1 and # 1A, you get both of these horses for the price of one. This is called "an entry." Entries occur when two (or more) horses are entered which may have common ownership (or partial ownership) or the horses are trained by the same trainer. Each state is different in their rules regarding "entries" and many tracks let two horses from the same owner and/or trainer run as separate program numbers. Occasionally, you will see an "F" next to the number. This indicates "field" and horses with an "F" next to the number are grouped together the same way as an entry, i.e. 16F, 17F, 18F, 19F, 20F would be #16 on the wagering menu. If #19 wins the race, you still win because of those horses being coupled as "the field" entry.
MODIFIERS:
STRAIGHT
A STRAIGHT bet wins if your selected runners finish in the EXACT positions specified on your ticket.
Example: $1 Trifecta 5/7/6 covers one combination. #5 must finish first, #7 must finish 2nd, and #6 must finish third.
WHEEL
A WHEEL bet wins if your selected runners finish in the EXACT positions specified on your ticket.
Example: $1 Trifecta 5/3,7/all only wins if #5 finishes first, the #3 or #7 finishes 2nd, and any (all) of the horses can finish third.
KEY
A KEY bet wins if your first selected KEY runner finishes FIRST and your other selected NON-KEY runners finish in the remaining underneath positions of the bet.
Example: $1 Trifecta Key 5/6,7 covers two combinations ($2 total). And wins with finish orders of either 5/7/6 or 5/6/7.
BOX
A BOX bet wins if your selected runners contain all top finishers for the bet (top2 finishers for Exacta, top3 for Trifecta, top4 for Superfecta, etc.) - in any order.
Example: $1 Trifecta Box 5,6,7 covers six finish order combinations ($6 total): 5/7/6, 5/6/7, 7/5/6, 7/6/5, 6/5/7, or 6/7/5.
KEY BOX
A KEY BOX bet wins if a selected 'Key' runner finishes in any position of the bet (e.g. 1st, 2nd, or 3rd position for Trifecta) and a 'Non-key' runner finishes in each remaining position of the bet.
Example: $1 Trifecta Key Box 5/6,7 covers 6 finish order combinations ($6 total): 5/6/7, 5/7/6, 7/5/6, 7/6/5, 6/5/7, or 6/7/5.
POWER BOX
A POWER BOX wager wins if one runner from each of your runner position selections (e.g. "1" with "2,3" with "4,5,6") finish in any position of the bet (e.g. top2 positions for Exacta, top3 for Trifecta, top4 for Superfecta, etc).
Example: $1 Trifecta Power Box "1 with 2,3 with 4,5,6" covers all (36) possible combinations where: (#1) -and- (#2or#3) -and- (#4,#5,or#6) MUST finish among the top3 finishers - in any order.