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What are the Important Terms to Know if You are Betting on Horses?
Horse racing is one of the oldest sports in the world. We have evidence that suggests people have been racing horses since the ancient world, in different civilizations around the globe. Today, horse racing may not be extremely popular in the mainstream, but in the world of betting it is one of the most popular sports.
 
Thanks to online sportsbooks, horse racing is becoming a lot more mainstream. That is why we would like to go over some terminology that any punter needs to know. In this article, we will be focusing on those who are interested primarily in horse racing betting, so if you’ve ever wanted to learn more about wagering on the ponies, this is where you should start.
Win/Place/Show

In any sport, there is the most basic form of betting. This type of bet requires you to wager on which athlete you believe will win the competition. In horse racing’s case, this is called a “Win” bet. It is a simple matter of placing a wager on the horse most likely to win. If the horse comes in first, you’ve won the wager.

However, what if you don’t want to bet on the winner. Instead, you could place a bet on the first and second spot. That kind of bet is called a “place” bet in horse racing, and it is one of the more popular options. Similarly, a “show” bet is a wager on a horse making it to the either first, second, or third place.
 
Exacta

The Place bet is a simple way to increase your chances of victory. However, it does also decrease the amount of cash you can expect to win. Some people, would prefer to take a higher risk for a higher reward. That is why the exacta bet is so popular.

An exacta bet entails guessing which two horses will finish in first and second place. However, the punter must also get the order right. If they’ve guessed the horses, but not the correct order, the bet is still considered a loss. Similar bets exist for the top 3 and top 4 spots.
 

  • Trifecta: a bet on the top three spots in the correct order

  • Superfecta: a bet on the top four spots in the correct order
The Daily Double

Often, during a horse racing event, there are multiple races that take place in consecutive order. Plenty of bookies have come up with a fun idea to link these races together. That is where the Daily Double bet comes in. But, what does it entail?

A Daily Double wager is a bet on the winner of two consecutive horse races. However, though you are betting on two different outcomes, the wager is considered as a singular bet. Which means, if one of the horses you’ve backed wins, and the other doesn’t, your bet still counts as a loss.

The Daily Double wager may seem like fun. However, it does come with a lot of risk. That is why, we recommend the daily double only to those who are experienced with horse races and with betting. For newbies, sticking to classic Win, Place, or Show wagers is probably the best bet.