You are betting on the horse you want to win the race. If you are right then you’ll get the “win” rate for that particular horse. The wager you make is called the “win bet” in horse racing. The term “place” is where the horse finishes the race and if the horse you bet on come in first or second you are paid the “place” rate or its proper name which is “place bet.” If the horse you bet on comes in first, second or third there’s also the “show” rate or the “show bet.”
This is also called the Perfecta. If you think you know what horse is going to come in the first or second spot then you can bet this but you have to pick the exact order the horses will place.
In this option, you pick the horse you believe will finish first or second. In a quinella wager, the order dose not matter like it does in an exacta.
If you want to make a lot of money for a small investment then you want to go with a trifecta. In this option you’re betting on the horses that will get a first, second, and third place finish in the race exactly. In this bet, the order that the horses finish does matter. So as you can imagine, it's not very easy to win a trifecta wager.
If you can spot winners with ease then you want to play the daily double option. When you use this option you’re betting on the winner of two consecutive races. This is usually the first as well as the second race of the day.
With this betting option, you pick the winners of all the races. If you win a pick six, the payoff will be huge.
Now that you know some common horse betting terms, you’ll be all set to bet on some races. You can have a lot of fun with horse betting, and it can even win you some extra money. But it's important to know what you're doing, so use the Internet to get more tips, especially on the races that you're thinking about betting on. There’s plenty of websites with great information out there. You can also bet on horses over the internet with an online sportsbook. And, if you don't live near a track, there are even websites that you can watch horse races on via live feeds. These sites are a great way to keep up with all the races.