Horse Racing Betting Types
Horse Racing Betting Types
Horse racing offers a wide variety of betting options to appeal to both casual followers as well as professional punters. Horse racing is also one of the most popular sports to bet on in Australia as there are races on every day around the country, as well as overseas racing to follow during the evening.
If you are going to try your luck with horse racing, then it’s important that you know and understand the most popular horse racing betting types.
Australian Horse Racing Betting Types
Win – Win only or “straight out” is a bet placed on the horse the punter is predicting to win the race.
Place – A place only bet is predicting a horse to finish in the top three places. That is, to finish either first, second or third. However, in cases where the field has less than eight runners, the placing payouts may change. In that instance, you may see “NTD” appear on the results after a race, which stands for “No Third Dividend”.
Each Way – When placing an each way bet, this is the same as placing both a win bet and a place bet. If the horse finishes in first place you will receive a dividend of both bets, however if it finishes in second or third you will only receive a pay out for the place stake.
Quinella – This bet has punters pick which two horses they think will finish first and second in the race, in either order. If their prediction is successful they will receive a dividend depending on the total amount of money in the prize pool at the end of that particular race.
Box Quinella – This market allows you to choose more than two horses to run first or second. So you can box three, four, five or more horses together and if any of the horses you selected finish first and second then you will receive a share of the prize pool. The costs of “boxing” a quinella rises, the more horses are included in the bet. So while boxing nine horses sounds like a great idea, the costs of the bet will mean you’ll need a big result to make a profit.
Standout Quinella – This betting type allows for you to select a group of different horses that you think might finish in first and another group that could finish in second. However, it has to finish in that order. For example, if you pick horse 4 to finish in first and then horses 2, 3 and 5 to finish in second, then horse 4 must win and one of the three chosen must finish in second for the bet to win. This is effectively the same as placing four separate quinella bets.
Exacta – This bet requires you to select the first and second place finishers in the correct order. Therefore the odds are increased as is it harder to pick the exact result of the first two horses finishing the race.
Box Exacta – When boxing an exacta, it allows you to predict multiple horses to finish in first and second in a race. As you increase the amount of horses in your bet, the cost of the box exacta increases significantly.
Trifecta – This bet type has the punter select the first, second and third place finishers in any order. The odds are high on this bet type and increase more with larger fields.
Box Trifecta – A boxed trifecta gives the option for the punter to select multiple horses that they think will finish either first, second or third in a race in any order. As you increase the amount of horses in your bet, the cost of the box trifecta increases significantly.
Standout Trifecta – A horse is selected to finish in first place (the standout) and it is combined with two or more other horses two finish in second or third place in any order. It is also possible to standout a single horse to finish in second or third place.
Flexi Bet trifecta – This bet allows you to choose the number of horses you would like to back in your trifecta and you can also specify what amount you would like to invest into the trifecta. Your dividend will be determined by the amount you stake and the total % amount of the prize pool.
First Four – This bet type requires the punter to select the first four horses of a race. Much like a quinella or trifecta, this bet can be straight out, boxed or standout, and the costs are dependent upon how many horses are selected.
Quadrella – Otherwise known as the “Quaddie”. This bet type requires you to pick four winners from four separate races that have been nominated by the TAB at one particular meeting. Usually this will be the last four races of the meet. A punter who selects a winning Quadrella will receive an equally divided up amount of the total prize pool for that particular Quadrella. It will also take into account the amount staked.
Double – The Daily Doubles or Extra Doubles requires punters to pick the correct winners of the two TAB nominated races at a particular meeting.
Running Double – This bet type requires the punter to correctly pick the winner of any two consecutive races at one race meeting.
Treble – This bet type has the punter select the winner in three separate races.
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