US Horse Race Betting Terms Explained

Horse racing in the US offers bettors a range of pool-based bet types which range from simple win bets or place bets, to wagers involving a combination of horses in a combination of races.

So if you're not sure if you want to bet straight or exotic, this guide should help. The availablity of pools varies from state to state, so make sure you check with the bookie concerned before you bet!.

Straight Bets

Straight bets require you to select a single horse in a single race.

Win Bets
Your selection has to finish first for you to collect.

Place Bets
Your selection must finish first or second to collect.

Show Bets
Your selection must finish first, second or third to collect.

Across the Board Bets
You can bet your horse, across the board, which actually consists of three bets, a win, a place and a show. If your horse wins you get the win, place and show dividend; if it’s second you get the place and show dividend, and if it’s third you get the show dividend.

Win & Place Bets
You can bet your horse to win and place. If your horse wins you get the win and the place dividend; if it is second you get the place dividend, and if it is third you get nothing.

Win & Show Boets
You can bet your horse to win and show (equivalent to betting each way over here).  If your horse wins you get the win and the show dividend; if it is second or third you get the show dividend.

Place & Show Bets
You can bet your selection to place and show.  If your horse wins you get the place and show dividends; if it is second you get the place and show dividends, and if it is third you get the show dividend.

Single Race Exotic Bets

These bets involve two or more horses in an array of punting propositions.

Exacta Bet Definition
Just like the UK equivalent, select two horses to finish first and second in the correct order..

Boxed Exacta Bet Definition
You can combine a number of horses (2 and up) in a permutation bet (called a box exacta).  If any of the horses you have selected finish first and second you win.

Trifecta Bet Definition
This is similar to an exacta but you must pick the first three finishers in the correct order of finish.

Boxed Trifecta Definition
Again this is similar to a boxed exacta and if any of the horses you select (3 and up) finish 1st, 2nd and 3rd you win.

Superfecta Bet Definition
Similar to the trifecta but this bet requires the 4th place finisher too. If you can predict the first four home in correct order, you win and it could be megabucks.

Multi-Race Exotic Bet Definition

Daily Doble Bets
You need the winner of two nominated races on the card. The daily double is generally available on the first and last two races at each meeting. 

PICK 3 Bet
Many US tracks feature a rolling Pick 3.  Again the aim is to pick the winners of consecutive races but in this case each race starts a new pick three.

PICK 4 Bet
Similar to the Pick 3, the aim is to select the winners of consecutive races. There are normally two pick fours on a card, the early pick four and the late pick four.

PICK 6 Bet
The ultimate punters' prize comprising of finding the winner of six consecutive races on the card.