But like most sports betting, horse racing has myriads of bets with tons of terminologies. You could still make money if the horse you backed came in second or even third. It would be wise to do your research so you can place Ante-post bets for Cheltenham.
However, it's best to understand the horse race betting terms if you want to stand the chance at making any returns on your wagers. Would you like to know more? Here's a guide on how to understand all the horse race betting lingo.
Straight Bets
Straight bets is a general term for one of the simplest forms of horse race betting. Simply put, you are wagering on a horse to win—no more, no less. If the horse comes in second by a micrometer, you are not getting any returns. A straight bet can also mean wagering on a horse to come in 1st, 2nd or third. That said, the following are the forms of a straight bet.
- Across the board.
This bet involves wagering on a horse to come in first, second, or third. Now here's the advantage. If your horse finishes first, you'll get paid on all 3 bets. You'll still get returns in the second and third if it comes in second position, but you'll only get third place earnings if the Horse finishes third position.
- Place
This bet gives you a return only if your horse finishes second or first place only.
- Show
A horse that comes in third is said to show. You'll still get third place returns if it comes in second or third
Exotic Wagers
Exotic" wagers are complicated bets and usually involve more horses. They are not for rookies because they are harder to win. Examples include
- Boxed bet
This bet helps you cover all possible outcomes of finishes for multiple horses. For example, bet that horse A wins and B places, and also that B wins and Horse A places. Meaning, you suspect your two horses will come in first or second, but you are not sure which order. This bet covers the uncertainty.
- Exacta
Exacta derived its name from "exact order." This bet is for those feeling lucky because you have to pick two horses and they must finish in the exact position of your prediction. To increase your chance you can box an exacta to cover the possible outcomes
- Quinella
A quinella is a type of boxed betting. If you pick two horses, they must win and place. However, the finishing order doesn't matter
Again, not for newbies. Superfecta allows you to select four horses that'll finish in the exact order of your prediction. Like your exacta, you can also box a superfecta.
Bridge jumper
It’s best not to be a bridge jumper unless you know what you are doing. It's a term for someone who bet a large sum, such as $200,000 on a single horse win. It's not just the huge sum that makes it high risk, but also wagering it all on one Horse.
Dead-heat
Sometimes, you may have to share your wins with others if the horse you backed ties with another horse. Even with advanced tech, it's sometimes hard for horse racing officials to decide the winner when there’s a tie.