Belmont Stakes 2011: Horse Racing Betting Lingo 101
New to horse racing? Want to get in the game and make a little money? You've come to the right place.
The Belmont Stakes begins today, and if you want to bet on it, you're going to need to know a little bit about the lingo.
This slideshow gives you the basics on how to bet, who to bet on and the basic lingo you need to place a bet.
Straight Bet
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The easiest way to bet when you are first starting out, is by placing a straight bet. If you are familiar with sports betting at all, you will have no problem understanding the logistics of a straight bet.
There are three types of straight bets.
Win:
You pick a horse. It wins, you win.
Place:
You pick a horse. If it comes in first or second, you win.
Show:
You pick a horse. If it comes in first, second or third, you win.
Across the Board:
An across the board bet means you are placing money on a horse to win, place and show.
Benefits of Betting on Each Kind of Straight Bet
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Betting on a horse to win produces the biggest payout, as you are taking the biggest risk by betting on one horse to win outright.
Betting on a horse to place has a better chance of hitting, but produces a worse payout. Betting on a horse to show is the most likely to occur of the three, so it renders the worst payout.
In an across the board bet, you get the best of all three worlds. It requires you to place money on a horse to win, place and show. If the horse wins, you win all three bets. If the horse comes in third, you don't go home empty-handed.
Betting an across the board bet limits your risk as much as possible, but still keeps you in the game.
Exacta Bet
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An Exacta (or Perfecta, in some circles) is a bet that predicts the top two finishers in the correct order. The payout for this prediction can be extraordinary, but it's not for the meek or the beginner.
Predicting an Exacta is extremely difficult to do, which is why it can be lucrative. The more unlikely the worse the odds of the horses involved in the Exacta, the bigger the payout.
Exacta Box
In an Exacta Box, the order is irrelevant. You pick a set number of horses, and if any combination ends up in first and second place, you walk away a winner.
This is a much safer bet than betting a straight Exacta, as you have a better chance of winning.
Exacta Wheel
Let's say you feel very strongly that the 8 horse is going to come away victorious in a 12 horse field. You can place an Exacta Wheel, which leaves the second place finisher ambiguous.
A full Exacta Wheel in this case means you are betting on any one of the other 11 horses to come in second. A part wheel means you are chopping down the field by any number. If you feel the 8 horse is going to come in first and either the 3, 7, 9, or 12 horse will finish in second, you can bet a part wheel accordingly.
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Quinella
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A Quinella is exactly like an Exacta Box, except that it's on one bet, whereas an Exacta Box is two.
The odds of the bets can vary, so if you are trying to choose between the two, it's best to go with whichever one offers the best odds.
Quinella Box
In a Quinella Box, you box as many horses as you want, and win if any combination of horses comes in first and second, you win. The more horses you include in the mix, the bigger the cost of betting.
Quinella Wheel
In a Quinella wheel, you are saying the a horse will come in first or second, and then wheeling any number of horses from the field to place.
Trifecta and Superfecta
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A Trifecta predicts the order of the top three horses. It's incredibly difficult to predict, which is why the payout is so lucrative.
If you are reading this slideshow, stay away from a true Trifecta.
Trifecta Box
A Trifecta Box is much more manageable. Like the Exacta, the more horses you box, the more combinations you have going into the race. You have to bet more, but your odds of winning increase exponentially with every horse you include.
Trifecta Wheel
A Trifecta Wheel works exactly like an Exacta Wheel, only the Trifecta Wheel has one more horse. In a Trifecta Key, you have to pick a key horse, which is the winning horse, and follow it up with any number of combinations of horses you desire for the second and third place finishers.
Superfecta
To land a Superfecta, you have to predict the order of the top four horses. The Box and Wheel are exactly like the Trifecta, with an additional horse.
Who Do You Bet On?
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Great question. I can't say I know the answer, but I can help give you a good idea about who is in the field.
This slideshow offers info on the field, including the odds for each horse. It will give you a good idea as to which horses are projected to win, and which horses to stay away from.
Perhaps the most important part of betting on horse racing is understanding odds. In this particular race, Animal Kingdom is pegged as the 2:1 favorite. That means you are betting to double your money.
Conversely, a 30:1 favorite allows you to multiply your money by 30. The worse the odds, the more you win.
Betting on one of the top three favorites in an across the board bet is the safest way to bet. If you want to spice things up, go for a horse from the field in an across the board bet. The winners of the first two legs of the Triple Crown have had 12:1 odds or worse.
Remember gambling should always be fun. Don't place a bet you can't cover, or that is going to harm your financial situation. If this is your first time, you'll see just how exciting throwing a few bucks down on a horse can be.
Good luck!
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