Looking for a detailed horse racing betting definition?

Question

horse racing betting has many admirers all around the world, can I have a complete and comprehensive definition of horse racing betting. As I plan to place a bet on horse racing and would like to be familiar with the horse racing betting terms.

Answer 1

Gambling on horse races

One of the most widespread forms of gambling is betting on horse races. The most common types of horse race betting involve betting on races between thoroughbreds or between standardbreds.

Wagering may be conducted in parimutuel pools, or bookmakers may take bets personally. Parimutuel wagers pay off at prices determined by support in the wagering pools, while bookmakers pay off either at the odds offered at the time the bet was taken or at the median odds offered by track bookmakers at the time the race started.

In Canada and the United States, the most common types of bet on horse races are:

    * win–to succeed the bettor must pick the horse which wins the race.
    * place–the bettor must pick a horse which finishes either first or second.
    * show–the bettor must pick a horse which finishes first, second, or third.
    * exacta, perfecta, or exactor–the bettor must pick the two horses which finish first and second and specify which will finish first
    * quinella or quiniela–the bettor must pick the two horses which finish first and second, but need not specify which will finish first.
    * trifecta or triactor–the bettor must pick the three horses which finish first, second, and third and specify which will finish first and second
    * double– the bettor must pick the winners of two successive races; most race tracks in Canada and the United States take double wagers on the first two races on the program (the daily double) and on the last two (the late double).
    * triple–the bettor must pick the winners of three successive races; many tracks offer rolling triples, or triples on any three successive races on the program.
    * sweep–the bettor must pick the winners of four or more successive races.

Win, place and show wagers are known as straight bets, and the remaining wagers as exotic bets. Bettors usually make multiple wagers on exotic bets. A box is a multiple wager in which all possible combinations of a group of horses in the same race are bet. A key is a multiple wager in which a single horse in one race is bet in one position with all possible combinations of other selected horses in a single race. A wheel consists of betting all horses in one race of a bet involving two or more races. For example a 1-all daily double wheel bets the 1-horse in the first race with every horse in the second.

In Canada and the United States exotic wagers are made on horses running at the same track on the same program. In the United Kingdom bookmakers offer exotic wagers on horses at differenet tracks. The most common is probably the Yankee, in which the bettor tries to pick the winner of four races. This bet also includes subsidiary wagers on smaller combinations of the chosen horses; for example, if only two of the four horses win, the bettor still collects for their double. A Trixie requires trying to pick three winners, and a Canadian or Super Yankee trying to pick five; these also include subsidiary bets. The nap is a term used to mark the best bet of the day.

A parlay (US) or accumulator (UK) is a series of bets in which the winnings from one race are bet on the next in order until either the bettor loses or the series is completed successfully.