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• Straight
bet or Single or Win bet.
This is the simplest and most common bet. You bet on a winner
at given odds. You collect only if your chosen horse is the
first across the finish line.
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Place. A wager
for place means you collect if your selected horse finishes
either first or second.
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Show. The third
horse across the finish line. A wager to show means you collect
if your selected horse finishes either first, second or third.
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Combination Bet. Combinations cover from two
to four horses to win in chosen order.
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Pick 3. This wager requires the player to pick
the winners of three consecutive races. Some race tracks have
a rolling pick 3 which is when the player must pick three races
in a row and it continues for the next three races.
• Pick 6.
This wager requires the player to select the winner of six consecutive
races prior to the first race of the pick six. Some tracks place
the pick six as the first six races, the middle six races, or
the last six races. Many tracks have carry over pools for the
pick six that can grow to as high as a million dollars.
• Quiniela or Reverse Forecast
(UK). A bet placed on
two horses to finish first and second in either order.
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Perfecta or Exacta or Straight Forecast (UK).
A bet placed on two horses but they must cross the finish line
in exact chosen order.
• Trifecta or Tricast or
Treble Forecast (UK).
A bet placed on three horses to cross the finish line in exact
chosen order.
• Superfecta.
A bet placed on four horses to cross the finish line in exact
chosen order.
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Daily Double. Similar to an accumulator you
select the winners of the first and second races on that day.
You must place your bet before the start of the first race.
• Jackpot. Pick six winners
in six races to share in a Jackpot prize.
The rules and prizes will vary from race track to race track.
• Parlay or Accumulator.
A multiple bet. A kind of 'let-it-ride' bet. Making simultaneous
selections on two or more races with the intent of pressing
the winnings of the first win on the bet of the following race
selected, and so on. All the selections made must win for you
to win the parlay. If a race is a tie, postponed or cancelled,
your parlay is automatically reduced by one selection; a double
parlay becomes a straight bet, a triple parlay becomes a double.
A parlay bet can yield huge dividends if won.
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Future. A bet on a future event. At the start
of each season, the sportsbooks give out odds for horses to
win a certain event. The odds change as the race date approaches
and in most cases get shorter, but if you win you get paid at
the original odds that you took. This is possibly one of the
most profitable bets if you have considerable knowledge of the
race that you are betting on including the jockeys, and a good
sense of judgement.
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Exotic Bets. Betting on unusual events. Some
sports books post odds and take bets on a wide variety of other
sports related events and activities. A few others will take
bets on just about anything you can think of.
• Proposition Bet or Prop
Bet. An offer of bets
at odds and conditions chosen by the sportsbook, usually on
'Exotic' bets.
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