The first betting option you will see in the horse section of most bookmakers is the Win/Place/Show, or an equivalent. The Win bet is the simplest. It is simply betting that the horse is going to finish in first place, and the odds will pay out according to the odds presented by the bookmaker. With the Place bet, you are betting that the horse will come in either first or second place, which means that the payout will almost always be lower than it is on the Win bet. A Show bet pays out even less if you’re right, since you win if the horse comes in third place or better. While the Win bet pays out the most, the Place bet is more likely than the Win, and the Show bet is more likely than both, which is why the payout is smaller. Unlike with other sports book bets, the pot in a horseracing bet is split between the players based on what they bet and how much, so you don’t know exactly how much you will win until you win.
Not always offered, the Quinella bet is a unique one. Here, you are able to bet on two horses, and if they finish in first and second place, you win the Quinella bet odds. It’s a combined bet and increases your chances of winning in relation to the Exacta, Trifecta, and Superfecta bets, but the payout is lower. The money line is clearly presented, so you know how much you stand to win if you are correct, and it doesn’t matter which of the two horses come in first or second.
The Exacta bet is the same concept as the Quinella, but rather than which of the two places (first or second) the horses come in not mattering, they do matter. This means that there is a lower chance of a payout than the Quinella, but a higher payout if you guess correctly. The money line is presented here as well.
The name is pretty telling, and it falls in line with the Exacta bet. It shows the money line payout, and like in the Exacta bet, the first, second, and third place horses need to be guessed exactly. This pays out even higher than the Exacta bet, and while the odds are low, the payout is substantial.
In the Superfecta bet, you have to again guess the exact placement of the specific horses that come in first, second, third, and forth place. In this bet, the payout is the highest at most casinos, and it can be incredibly high. If you get a Superfecta bet, you may win enough to buy a new house, that’s no exaggeration, and what’s especially exciting is that you don’t have to bet all that much to see huge winnings because the chances are so low but the payout is so very high.
When it comes to major races, like the Kentucky Derby and the Prix de l'Arc de Triomphe, you can bet on them far in advance. Here, rather than a money line bet or not knowing how much you stand to win at all, there are odd bets that clearly display how much you stand to win. You can bet on just one horse or as many as you like, and you can even bet whether or not there will be a Triple Crown. In fact, you can bet that there won’t be a Triple Crown winner.
Virtual Horse Racing
When there are no races going on, or even when there are, you can bet on virtual horse racing. Here, the online casino will use the same random number generating technology that they use for their standard casino games, which undergo monthly audits and require independent certifications to ensure total fairness. It is setup the same way as a regular horseracing bet, but the racers are computer animated. The animation is actually pretty impressive.