Horse Gambling Wager Guide

Find information on horse betting, how to place a Win, Place, and Show bet. Ace Sportsbook Racebook also provides information on Exotic wagers like, Daily Double, Quinella, Exacta, and Trifecta. We pay track odds on win place and show plus exotics with the most generous horse racing payout limits available on the web!

Ace Sportsbook offers horse racing clients a wide variety of horse racing exotics with the most generous horse racing payout limits available on the web! With more than 75 thoroughbred horse racing and harness horse racing tracks available for real-time wager(s) on horse racing every day!

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Introduction to Horse Gambling

The essence of a wager on horse racing is its odds. It’s different from a wager with your neighbor that Tech will beat State in the big game. The wager is head-to-head. Kind of a 50-50 deal. If Tech beats State, you win. He loses. In horse racing, there are 8, 10, 12 horses in every race, and only one can win. To come out on top in this game, you have to cash a winning wager(s) when a wager on horse racing is at the right odds.

A wager on horse racing odds makes up for the fact that none of us can pick a winners everytime. Odds for win bets on all the horses are posted all around the track. In addition, TV monitors show win-betting on horse racing odds PLUS possible exacta and daily double payoffs expressed in actual dollars and cents. The odds are constantly changing in reflection of the betting on horse racing, and are updated on the “tote board.”

The “morning line” odds listed for each horse in the program is not an actual wager on horse racing odds, but is an estimation made by the track handicapper of how the public will end up betting on horse racing . So it is quite interesting to note that a horse that is being bet to odds being far different from his morning line. If he’s way down, that’s called an “underlay” , and might indicate “smart money” is being bet on the horse. A horse way up is called an “overlay” . If it’s one you like, that horse could be an excellent buy in the big supermarket at odds. Try to be a smart odds shopper.

Common Racebook Wagers


When you select a horse to win, you collect if your horse finishes first.


You collect if your horse finishes first or second.


You collect if your horse finishes first, second or third.


Betting across the board is a wager that is simply making an equal win, place and show wager on one horse. “$2 across the board on number six” is the same as saying $2 to win, $2 to place and $2 to show on number 6 for a total of $6.

Other Horse Racing Bets:

Daily Double

Betting on horse racing’s exotic bet is a wager that involves picking the winners of two races in a row. The Daily Double is usually contested on the first two races of the day and the last two races, although some tracks have daily double betting on horse racing throughout the day. The wagering is straightforward. $2 is the minimum wager, and you must select the winners of both races on one ticket.


1st and 2nd-place finishers.

For the Quinella, it is a wager that you have to pick (on one ticket) two horses to run first-second or second-first.


1st and 2nd-place finishers.

For the Exacta, it is a wager where you have to pick (on one ticket) the exact order of official finish of the first two horses of a race. If you want No. 2 to win and No. 5 second, simply tell the clerk “$2 exacta, 2-5.” Always give the numbers in the order you think your two horses will finish. Your total cost is $2. If 2 wins and 5 finishes third, you do not win. If 5 wins and 2 finishes second, you do not win. NOTE: This wager is also called “Perfecta” at some tracks.


1st, 2nd and 3rd-place finishers.

The Trifecta is a wager that calls for you to pick the first three horses in exact order of official finish. The simplest form of this wager is the Straight Trifecta, which is a single combination of the first three finishers. The minimum wager for a Straight Trifecta is $2. To purchase, simply tell the clerk: “$2 Trifecta on 1-2-3.” Trifectas qualify by each track’s rules and regulations (refer to program). NOTE: This wager is also called the “Triple” at some tracks.

Horse Racing Wager Tips:

  • Bet only on horses you feel have a good chance of winning.
  • If you don’t like a horse, don’t bet on it.
  • Give preference to winners. Choose a horse that has won before.
  • Avoid betting on a horse that has just moved up in class.
  • Look for value odds as much as likely winners. If you keep looking for them, you will learn to spot them fairly quickly.
  • Look for a horse that has a fair chance of winning and is not overly backed. This is usually a good value wager in the long run. On odds of say, 10:1, you need to win once in ten attempts to break even. Anything more is net profit. Horses backed heavily by touting services and computer handicappers may win more often, but are usually poor value bets.
  • When the track is slow or heavy, give preference to fast starters. Slow, muddy and heavy track conditions usually favor the horse that takes an early lead.
  • A straight bet is a simple wager, manageable and not too difficult to win. Play it but always weigh up the odds. Avoid favorites and long shots (outsiders) too. Be selective – don’t bet on anything or everything.
  • When betting straight, consider betting to win and show, or each-way, if the odds are relatively high.