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Horse racing betting explaining different bet types including win only betting, place betting, eachway betting, all up betting, quinella betting, exacta betting, trifecta betting, first 4 betting, treble betting, quadrella betting on Australian racing. Horse racing betting here seems to be head and shoulders above overseas bet types although, because of our smaller population, we obviously have smaller betting pool sizes but it really is a smorgasbord of horse racing bet types that we enjoy here in Australia.
Here is a list of the many Horse Racing Betting Options available.
Win Only Bet:
The most popular horse bet is the old Win Only bet type. The Win Only horse racing bet is when we wager on our selection winning the race. If it doesn’t win then we don’t get paid by the bookmaker. It must finish first or we have lost our money.
The Place Bet is where you pick a horse to run in the first three placings. It must finish 1st, 2nd, or 3rd for your Place Bet to win. You don’t win any extra should your horse win the race, you have only bet on it to run in the first three.
All Up Bet or Parlay Bet:
All Up Betting or Parlay betting is a horse racing bet that has at least one selection for either a win or place on at least two races on a particular meeting. For example, you like the 1 horse in race 1 and the 1 horse in race 2 then rather than place two separate wagers on each selection, you can take an all up bet with all your winnings from the first race going automatically onto the second of your selections. You choose whether you want to bet on your selection to win or run a place.
The Eachway Bet is when you wager some money on your horse to win but you also wager some money for your horse to place. The theory is that if you bet on it eachway then you can recoup your losses from the win portion of your bet should it run a place.
A Quinella bet is when you take two horses in any races to finish first and second in any order. This bet is not restricted by the amount of horses you pick and there are a couple different ways to take a quinella bet.
You can choose to box a certain number of runners, which means that if any two of the 3-4-5 or more selections that you make finish first and second then you win.
The other option you have is to choose one or more runners as your banker with other horses. By placing a quinella bet like this, your banker must finish first or second for you to win, providing that you have the other horse on your horse racing bet slip.
The Exacta bet type is the same as the quinella with the one exception. Your selection must win or run second if you have taken it to run second. If you have picked your horse to win and it runs second but one of your other selections beats it then you lose. Unlike a quinella, the exacta means exactly that, in exact order. Again, as is the case with quinella betting, you can also box as many horses as you like in an Exacta bet.
Any 2 Bet:
The Any2 bet is a recently added bet type. This bet type is more popular in Hong Kong where Punters seemingly can’t get enough of the Any2 while here in Australia it is yet to really kick on. The Any2 means that you are picking 2 (two) horses to run in the first three placings. The size of the pools tend to be too small, unlike in Hong Kong, for this bet to stand the test of time in our opinion.
Again, as is the case with quinella betting and Exacta betting you can box your selections or you can pick a stand out banker to minimise the cost of your horse racing wager.
The Trifecta Bet type is played by most punters, some more keenly than others. Pick the first three horses in order in any given race and you’re likely to win a small fortune. Many punters will place a Melbourne Cup Trifecta bet for the 2013 Melbourne Cup.
There are many different trifecta betting systems that Punters employ trying to win big with their racing bets. One thing about trifecta betting is that it can be expensive with the more runners that you put on your ticket making it cost more.
As stated, there are many different ways that people like to do their trifectas as they chase a big winner.
You can take a standout selection to win and load up in the other two legs, you may want to take the favourite to get rolled and take field to win and field to run third or you may want to box 5 or more runners. You may even want to just take your three selections in order. The choice is yours.
Depending on how you choose to place your trifecta bet it can be expensive but it can pay handsomely if it’s your lucky day.
Pick 4 or First 4 Bet:
Much like trifecta betting, trying to get the first four correctly on your ticket can be both expensive and profitable. You must pick the first 4 correctly on your racing betting slip to win, it must be in order unless you have boxed your selections.
The Daily Double and the Extra Double have been a popular bet type for many years. These bet types revolve around 2 selected race meetings and you have to pick the winner of each race to win the daily double.
You can pick as many horses in each leg (race) as you like, whether you pick one runner in each leg or whether you pick multiple runners, the choice is entirely yours.
The Quadrella bet or Quaddie as it is known is a horse racing bet that requires you to pick the winner in 4 different races. These races are preselected and most people will spend a few dollars if not hundreds trying to get a big payout.
Big 6 Bet:
The Big 6 is a new bet type that is along the lines of the Quadrella except that you have to pick the winner of 6 selected races. Again, this is a big dividend opportunity for punters but obviously, picking 6 winners in a day is hard to do for most people.
The Mystery bet is an automatic computer bet that takes the hard work out of betting. This is a fun bet for many punters that gives you one runner that is in the first 6 horses in betting when you place your bet and any two other runners in a Mystery Trifecta Bet..
There are also other novelty horse racing bet types offered by many of the online bookmakers. These include The Jockey Challenge bet type where you bet on a jockey to be the most successful jockey at a race meeting. Points are awarded on a 3-2-1 basis and this gives many punters an interest all day long.
The arrival of online betting giant Betfair has seen a new form of horse racing betting. Not only can you bet on a horse to win but you can lay a horse to loose. That’s right, you can be a bookie and take on a horse to loose. Betting on horses to loose has proven to be extremely popular with many punters, after all, the bookmakers don’t all drive expensive cars because the short priced favourites always salute.
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