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What are the types of bets popular in horse racing?- Single Race and Multi Race Betting

Multi Race bet

Horse Betting Types

Almost all of the online sports betting sites offer punters various horse racing sports to bet on. Similarly Australian bookmakers too list highly competitive bet types. Earlier TAB was the one that offered variety on bets but now it is easy to find all kinds of bets to place on horse races online on your PC or mobile. Here find the various types of bets popularly used for horse racing which offer good return on your horse runs even if it doesn’t come to the first place. Note that these types of bets vary from single race and multi race.

Single Race Bet Types

1. Win

This is simple bet where you pick the runner that you think will finish first in a race. Also known as straight out bet it is placed on a runner to win only. For your bet to win your selected horse must win the race like if you bet $10.00 a win at $5.00 returns $50.00 if your runner wins.

2. Place

In place bet you pick a runner in a race and if your runner finishes first, second or third you will collect your place dividend. A third place dividend is only paid in races with eight or more runners. This bet is placed on a runner to run 1st, 2nd or 3rd subject to field size. If a field has less than eight runners then place bets will pay on 1st and 2nd. For a place bet to win, your horse must run a place. Always be aware of field size when place betting, especially small fields. As an example $10.00 on a place bet at $2.45 returns you $24.50 if your horse places

3. Each Way

Each Way bet combines the Win and Place bets. If your runner wins, you will collect both a Win and Place dividend or if your runner finishes second or third you will collect the Place dividend only. For example, a bet of $10 Each Way is a Win bet of $10 and a Place bet of $10, for a $20 bet total. So if you have $10 each way on a horse paying $10.00 for a win and $2.50 for a place you will outlay $20.00. If your horse wins, you return $125.00 ($100.00 for win and $25.00 for place). If your horse fails to win but runs a place, you return $25.00 (Zero for Win and $25.00 for Place)

4. Best Odds Bet

This bet guarantees the better of the official Bookmakers’ starting price (SP) and the official Win dividend declared by a TAB as nominated by the client. Like VIC Tab paying $2.30, NSW Tab paying $2.30 & UNItab or Tattsbet paying $2.55 then the Best Odds dividend would be $2.55 at UNItab. The Starting Price is an average of the on-course bookmaker’s prices taken at the start of each race. These prices are not known by punters at the time of betting.

5. Best Fluc Bet

Best Fluctuation or Top Fluc, is available up to 30 minutes prior to jump. Bets placed prior are guaranteed to be paid at the top official on-course bookie fluctuation as determined by the Bookmakers Pricing Service (BPS). The Win portion will be paid at the best official Bookmakers’ price. For Win/Place wagers, the place portion will be paid at a price equivalent to the Tote Place dividend declared in the state in which the race is run. So if you have $100 a win on a runner at Best Fluc and during betting the fluctuations are as follows $4.20 | $4.50 | $4.40 | $4.70 then the Best Fluc is $4.70 which returns you $470.00.

6. Fixed Odds Bet

Fixed Odds is a set price at which the Win portion of a bet will be paid at the fixed price as determined by the bookmaker. As an example $100.00 a Win at the Fixed Odds of $4.20 will return you $420.00 and if the horse drifts out to $4.50 during betting then you missed the best price, however if it firms into $3.90 then you got the better price at the time.

Single Race Horse Betting

7. Quinella

Quinella bet requires you to correctly select the two runners that will finish first and second in a race, in any order. So if you have $2.00 on numbers 4 and 6 to run the quinella then either horse can win or run second (4-6-x or 6-4-x) but they must both finish 1st and 2nd for you to win. Quinella dividends are calculated by the amount of total money in the pool at race end and a dividend is then declared after the race is run. There are different types of Quinellas– Box and Standout.

  • A Box Quinella allows the ability to choose as many runners as you like from the same race, however two of the selections must place First or Second in any order. It also costs you more for your initial outlay as there are more runners. So if you have a $1 quinella on numbers 1, 2, 4 and 5 then first you need to calculate the cost for boxing 4 runners. To box 4 runners the bet will cost you $6.00, and if any of your four runners finish 1st or 2nd then you win your bet.
  • The Standout Quinella is when you specify a group of runners that you think may come first, and a group that may come second, specifically in that order. So if you had a $1 quinella with number 2 to win and numbers 4, 5, 6 and 7 to run second then number 2 has to win the race while the other four have to run second for your bet to win. It will also cost you $4 to place the bet as there are in effect four Quinellas which are 2&4, 2&5, 2&6 and 2&7

8. Exacta

An Exacta requires you to correctly select the two runners that finish first and second in a race, in the exact order. So if you have a $2.00 Exacta on numbers 8 and 2, then number 8 has to win and number 2 has to run second for you to win your bet. Exactas traditionally pay more than Quinellas but they are also harder to win as they have to run 1st and 2nd in order. There are different types of Exactas– Straight, Standout, Box or Roving Banker.

9. Duet

Duet bet requires you to correctly select two of the three placegetters, in any order. The Duet will pay three dividends for the following combinations: first and second, first and third, and second and third.

10. Trifecta

Trifecta bet requires you to select the runners that will finish first, second and third in a raceSo if you have a $1.00 trifecta on the numbers 4 to win, 5 to run second, and 8 to finish third, then they would have to finish in the order 4-5-8 for you to win. There are different types of Trifectas– Flexi, Standout, Box or Roving Banker.

  • In Box Trifectas bet is offered in denominations as low as $1 per unit. A $1 trifecta box of horses 1-3-5 would include six $1.00 combinations at a cost of $6.00. To receive a winning pay out, the order of finish would need to be one of the following combinations.
  • In Standout Trifecta Bet the runner selected to finish first (a standout) is combined with two or more other runners to finish second and third in any order. You can also standout a single runner to finish second or third if you wish.
  • In Flexi Bet Trifecta you still specify the number of runners you wish to back, but you can also specify what amount you would like to invest based upon your budget. The payout you receive will be a % of the winning dividend based upon the difference of the normal cost of a boxed Trifecta and the amount you chose to invest.

11. First 4

The First 4 requires you to select the first, second, third and fourth runners in a race, in the correct finishing order. Like Trifecta, First 4 can be Straight, Standout, Box or Roving Banker. There are four different types of First 4 betting – Straight, Box, Standout and Multiple First 4 bets.

  • Straight First 4 requires selection of the first four placings in a race in the correct order.
  • Box First 4 bet allows your selections to finish first, second, third and fourth in any order. Boxing four selections gives you 24 combinations with which you can win a First 4 bet type.
  • In Standout First 4 one runner is selected to finish 1st (a standout), and is coupled with three or more runners to finish second, third and fourth.
  • In Multiple First 4 two or more runners are selected to finish 1st, with a number of other runners to finish 2nd, 3rd and 4th.

Multi Race Bet Types

1. Doubles

A Daily Double requires you to pick the winners of two nominated races at the same race meeting. A Running Double requires you to pick the winners of any two consecutive races at the same race meeting. So if you have a $1.00 Daily Double and take number 2 to win the 1st leg (Race 5) and number 6 to win the 2nd leg (Race 7). They both have to win their race for you to successfully win your bet. Double dividends are calculated by the amount of total money in the pool at race end. A dividend is then declared after the race is run.

2. Running Double

The Running Double requires you to correctly select the winners of any two consecutive races at the one race meeting e.g. Race 2 winner and Race 3 winner. Running doubles are available across the board and can often through up a good dividend if you think outside the box.

3. Quadrella Bet

A Quadrella requires you to pick four winners from four races nominated by a TAB at the one meeting. A Quadrella differs from an All-Up in that the dividend is determined by dividing the amount of money in the dividend pool amongst successful investors, as opposed to an All Up that transfers your winnings from one race to the next.

The minimum investment for a Quadrella here is 50 cents, however all dividends will be displayed for $1. Flexi and Mystery Quaddie betting are also available. To calculate the amount you need to spend to couple more than one horse in each leg simply multiply the number of selections in each leg together. So if you want to have a $1.00 quadrella with 2 runners in each leg. This will cost you a total of $16 (i.e 2 x 2 x 2 x 2) to receive a full 100% return. A 50% flexi bet for a 2 x 2 x 2 x 2 combination would cost you $8 and return you 50% of the full 100% return.

4. Big 6 Bet

A Big 6 bet type involves selecting the winners of six nominated races nominated as legs of the Big 6 for a particular meeting. Pick all six winners across the six races and you win the Big 6 dividend. As with the Firts 4, flexi betting is available for the Big 6, allowing you to add as many runners as you like to suit your betting budget. Naturally, the possible combinations are much higher, and more expensive, than a First 4, especially with a Big 6 running across six races. A flexi bet at 50% would cost you $120 and you would receive 50%, or half, of the total dividend. If the Big 6 paid $8600 then you would receive a dividend of $4300 for your 50% outlay.

Multi Race bet

5. Treble Bet

A Treble involves picking the winner of three separate races. The first bet returns are rolled over to the second bet, then the second bet returns are rolled over to the third bet. Each of the three selections must win for your bet to be successful. Selecting three winners can accumulate into a large dividend if bet with value in mind. So if you have a $1.00 Treble bet, taking number 3 to win the 1st leg, number 6 to win the 2nd leg and number 9 to win the 3rd leg. All three bets have to win for your bet to be successful.

6. All Up Betting

Also known as an Accumulator or Parlay an All Up allows you to select one or more runners to win or place on different races and all of your selections are required to be successful for the All Up to win. The payout is worked out by multiplying your initial stake amount by the odds for each of your selections. So if you have a $1 all up on on four races at a meeting. Number 2 (Race 2), Number 4 (Race 4) number 6 (Race 6) and number 8 (Race 8). All up betting allows you to win a large amount of money for a very small outlay if you select wisely. Most bookies allow you to have all up bets over different meetings across different race codes, including Harness racing and Greyhounds.

7. Parlay Formula

A Parlay Formula is a bet which involves parlaying your winnings from one race into one or more other races. To parlay means to create a single bet that links together two or more individual bets and is dependent on all of those bets winning together. You can have a Parlay formula on a minimum of two and up to a maximum of six races, and you can place a combination of Win, Place, Win & Place or Quinella bets. You can expand your options by parlaying your bets over 2, 3, 4, 5 or 6 races using a Formula Number, which means you do not have to be successful in every leg to be a winner. The key advantage of a Parlay over a standard multi is that if some of your legs are successful, then you will still win a dividend based upon the amount of successful combinations you chose.

Now choose the type of bet you want to place on your horse racing both at real race track or online bookies or race track and see for yourself how these types of bets work on the field.

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