You will have 2 categories of bets to choose from when you punt on the ponies: Straight and Exotic. Beginners are advised to start off their betting with Straight bets thanks to the fact that they are simple and cheap: you are asked to choose a horse to come in 1st, 2nd, or 3rd, and will receive a payout accordingly.

Exotic bets allow for more complex wagering, and you will be able to place bets on a number of different horses in 1 wager. Exotics are more difficult to win that Straight bets are, since they require a more developed degree of skill and knowledge when it comes to picking horses. They are also more expensive. But, thanks to the higher risk involved, the payouts are significantly bigger. As you learn more about betting, you can advance from straight bets to exotic and enjoy all that they have to offer.

Easy to Use Straight Bet Options

When it comes to Straight betting, remember that you are only wagering on 1 horse:

● Win

This wager has you predicting which horse you feel will end up in 1st place. Should this occur, you will collect

● Place

When you wager on a horse to Place, you are betting that he or she will finish the race in either the 1st or 2nd position. Should either of these outcomes occur you will win, and although the payouts for these bets is not as high as those for Win wagers, there is far less risk involved.

● Show

This wager has you betting on a horse to come 1st, 2nd, or 3rd. Since you are hedging your bets at the sports betting sites that offer you the chance to make this wager you have a better chance of winning, and thus the payout for this bet is substantially less than either the Win or the Place bets.

● Across the Board

When you bet across the board, you will be wagering on your house to Win, Place and Show. An Across the Board bet is also known as a Combo Straight wager because it is actually 3 bets rolled into 1.

Because it is 3 bets in one, an Across the Board bet is more expensive to place than the Win, Place, and Show bets are individually.

For example, a $5 Across the Board bet will cost you $15, because you are betting 3 wagers valued at $5 each. If your horse finishes in 1st place you will get payouts on the Win, Place, and Show bets. If your horse comes in 2nd, you will get Place and Show money. If your horse finishes 3rd you will get the Show money.

● Win/Place and Place/Show

These bets are similar to an Across the Board bet in that you are asked to make multiple Straight bets in one 1 wager. The Win/Place bet will see you receiving a payout whether he comes in 1st place or 2nd place, with 2 payouts for that occurrence and 1 if the horse finishes 2nd. If he finishes 2nd, you will only receive the Place bet money.

In a Place/Show bet you will receive 2 payouts if your horse finishes 2nd and only one if he comes in at the 3rd position. Once you’ve got these bets down, move on to more exotic wagers, or even try for an accumulator.