Horse Betting 101: Kentucky Derby Betting

Written by Caitlin Patton
Thursday, 17 March 2011 09:30

Different people approach horse betting, and specifically Kentucky Derby betting, with different levels of seriousness and experience.  If you have never bet on a horse before, you’ll need to understand the lingo.  Here are some different types of bets:

• Straight bet, also known as a single or win bet: This is a good place to start for a novice at horse betting, because it is a simple bet.  Just choose which horse you think will win, and place your money on it.  If your pick was correct and your horse wins, you’ll win money; how much depends on the odds.

• Place bet: In this bet, you will win money if the horse you chose is the first or second-place finisher.

• Show bet: Similar to a place wager, betting to show will entitle you to collect winnings if your chosen horse is the winner or the second or third-place finisher.

• Win-place bet:  The same as an across the board bet, but you only collect money if the horse you chose is one of the top two finishers.

• Combination bet: This type of bet covers two to four horses to win in the order you choose.

• Pick 3 bet: To win this kind of bet you have to correctly choose the winners of three consecutive races. There are also Pick 6 bets, where you have to choose the winners of six consecutive races.

• Quiniela or Reverse Forecast (UK): This is a wager placed on two horses to finish first and second in either order.

• Perfecta or Exacta or Straight Forecast (UK): Similar to the above, this is a bet placed on two horses.  However, in this type of wager the horses have to finish in exact order you picked.

• Trifecta or Tricast or Treble Forecast (UK): As above, but for three horses to finish in the exact order you picked.

• Superfecta: As above, but for four horses to finish in the exact order you picked.

• Daily Double: You choose the horses you think will win the first and second races of the day. You have to make your wager before the first race begins. If you are correct, you win.

• Jackpot: If you choose six winners in six races, you will get a share of a jackpot prize. For specifics about the rules and prizes, check at the racetrack or location where you are doing your horse betting, because the specifics vary.

Now that you understand the most common types of horse race bets, your goal is to beat the odds (set by “oddsmakers”), which will allow you to win money – and give you a great deal of excitement as you watch your horse cross the finish line first!  Place your bet through a sportsbook (US) or bookmaker (UK) and tell them the type of bet, the horse(s) you are betting on, and the amount of money you wish to wager.  Bets can be made in person, online, or over the phone.

For Kentucky Derby betting, you can bet at Churchill Downs on race day, or if you can’t make it to the race, you can try twinspires.com, which is the “Official Online Wagering Site of the Kentucky Derby.”  They will take your bet over the phone or online, and it is all perfectly legal.