What is trifecta horse race betting?

Question

I recently started horse race betting, and would like to know, how trifecta horse race betting functions. Any generous help on trifecta horse race betting would be highly appreciated.

Answer 1

The following real-life data deals with to-win, exacta, and trifecta  betting at horse racing tracks across United States and Canada on Sunday, October 5, 2003. (Some tracks, especially Canadian, use the terms exactor for 'top 2 finishers' and triactor for 'top 3 finishers'.) A number of 236 races offered the trifecta wager. A number of 275 races offered the exacta wager. One track (El Comandante) was excluded, for always paying insignificant amounts ($3.95 for a trifecta???).
All payoffs are for a $2 bet.

Total trifectas (triactors): 236
Total amount paid for trifectas (triactors): $170,396.35
AVERAGE trifecta (triactor) payout: $722
Standard deviation: 2349.25
Minimum trifecta (triactor) payoff: $17.80
Median trifecta (triactor) payoff: $221
Maximum trifecta (triactor) payoff: $26,914 (Belmont Park).

Total exactas (exactors): 275
Total amount paid for exactas (exactors): $24,706
AVERAGE exacta (exactor) payout: $96.13
Standard deviation: 271.22
Minimum exacta (exactor) payoff: $3.80
Median exacta (exactor) payoff: $221
Maximum exacta (exactor) payoff: $3,826 (Belmont Park)

Total 'to win' races: 272
Total amount paid for 'to win': $3,076.3
AVERAGE 'to win' payout: $11.31
Standard deviation: 10.23
Minimum 'to win' payoff: $2.30
Median 'to win' payoff: $8
Maximum 'to win' payoff: $69.30.

Interesting statistics for the favorite horses, as in the 'betting choice'. The favorites won 103 races out of 272 or 37.87% of the time. Most wins of the favorite horses come in small races (6 or fewer horses). The payouts were significantly lower.
Total 'to win' races with the favorites winning: 103
Total amount paid for 'to win' with the favorites winning: $475.70
AVERAGE 'to win' payout with the favorites winning: $4.62
Standard deviation with the favorites winning: 1.35
Minimum 'to win' payoff with the favorite winning: $2.30
Median 'to win' payoff with the favorite winning: $5
Maximum 'to win' payoff with the favorite winning: $8.40.

The non-favorites won 169 races out of 272 or 62.13% of the time. The payouts were significantly higher.
Total 'to win' races with the non-favorites winning: 169
Total amount paid for 'to win' with the non-favorites winning: $2,600.60
AVERAGE 'to win' payout with the non-favorites winning: $15.39
Standard deviation with the non-favorites winning: 11.11
Minimum 'to win' payoff with the non-favorite winning: $4.20
Median 'to win' payoff with the non-favorite winning: $11
Maximum 'to win' payoff with the non-favorite winning: $69.30.