A Beginner's Guide to Betting on the Ponies
Betting on the ponies is one way to turn the thrilling spectator sport of horseracing into a more interactive experience. But if you’ve never done it before, the lingo can be a little intimidating. Here’s everything you need to know to bet on the ponies like a pro.
Straight Wagers
The two main categories of wagers are straight and exotic. Straight wagers are simple and may be the easiest way to dip your toe in the water. With this type, you’re only betting on one horse. You can bet on that horse to win, which means you’ll win if the horse comes in first. You can bet on that horse to “place,” which means you can collect if the horse comes in either first or second. Or, you can bet on that horse to “show,” which means you can collect if the horse comes in first, second, or third.
Betting on a horse to place or show will increase your odds of winning. However, the payout is less than if you placed a wager to win and the horse came in first.
Another type of straight wager is betting “across the board,” also called a “combo straight wager.” This is essentially three bets in one, and it’s more expensive. You will get win, place, and show money if the horse finishes first. You’ll get place and show money if the horse finishes second. And you’ll get just the show money if the horse finishes third.
Exotic Wagers
With an exotic wager, you’ll bet on multiple horses with the same wager. These wagers are harder to win and they require more skill. There are multiple types of exotic wagers, including the “exacta,” which means you’ll bet on two horses to come in first and second, in that order. So, if you place an exacta wager on horses three and four, you’ll win if horse three comes in first and horse four comes in second.
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