There are many types of bets you can place. Some sportsbooks
may offer more betting varieties and combinations than
others. Below is a list of the more common types of bets
used in horse racing and sport events.
Proposition Bet or Prop Bet. An offer of bets at odds and conditions chosen by the sportsbook, usually on 'Exotic' bets.
Some practical examples of betting and variations
The Daily Double: You win if you pick the winner
of the first and second race. To bet you say "$2 daily double
on 3 (your pick to win in the first race) and 5 (your pick
to win in the second race)". Your bet must be placed before
the start of the first race.
Quiniela: You win if you pick two horses that finish first
and second, in either order, in any single race. To bet you say
"$2 quiniela, numbers 5 and 6". If the results of the first two
horses are either 5-6 or 6-5, you win.
Quiniela Box: Pick three or more horses. You win
if any two of your selections finish first and second. To bet you
say "$2 quiniela box on 4,5 and 6". You are making three separate
bets so your minimum bet is $6. If they finish 4-5, 4-6,
6-4, 6-5, 5-4 or 5-6, you win. You can box as few as three or as
many as the field.
Perfecta: The Perfecta is similar to the Quiniela, except the two horses must finish in the exact order. To bet you say " $3 Perfecta, 5-6." Only if the horses finish 5-6 you win.
Straight Trifecta: Pick the first three horses to cross the finish line in exact order. To bet you say "$2 trifecta numbers 7,4 and 5." Only if they finish 7-4-5 you win.
$1Trifecta Box: Pick three horses to finish first, second and third, in any order. To bet you say "$1 trifecta box 2,3 and 5." You are actually making six $1 bets, so your total bet is $6. If they finish 2-3-5, 2-5-3, 3-2-5, 3-5-2, 5-2-3 or 5-3-2, you win.
$1Trifecta Key: Pick your favorite horse to win, then two or more others to place and show in any order. To bet you say "$1 trifecta key on 1 with 2 and 3." You are actually making two $1 bets so your total bet is $2. To win your Key horse must win and the other two must finish either 1-2-3 or 1-3-2.
Each Way bets:
- 2-4 runners; no place betting allowed
- 5-7 runners; 1st and 2nd one quarter the odds
- 8+ runners; 1st, 2nd and 3rd one fifth odds
- Handicaps 12-15 runners; 1st, 2nd and 3rd one quarter odds
- Handicaps 16+ runners; 1st, 2nd, 3rd and 4th one quarter odds
Patent: three selections combined for seven bets (one treble,
three doubles and three singles).
Yankee: made up of four selections combined into eleven bets (four trebles, six doubles and a four-horse accumulator).
Super-Yankee: as above, but five selections combined into a total of 26 bets (ten trebles, ten doubles, five four-horse accumulators and a five-timer).
Note: Different countries and different race tracks may have different rules, use different terms for how to bet and also for the types of bets. If unsure, ask the sportsbook or bookmaker when placing a bet.