If you find Horse Racing terminology bewildering, you are not alone! But the good news is that you will pick the vocabulary up very quickly once you start placing wagers and you do not have to be fluent to begin.
Straight Stakes
Straight bets are the simplest of all.
Win
A Win wager is exactly what it sounds like and you will need to correctly predict the horse to cross the finish line first to collect a return.
Place
Place stakes need you to guess the horse that finishes first or second. Either way, you win.
Show
A show bet will put money in your pocket whether your horse comes in first, second, or third.
Each Way
This is where you wager on the horse to cross the post in either first or second place. You will win whichever way!
Exotic Wagers
Exotic stakes are more complicated than their straight counterparts and so have greater payouts for winning bettors at betting sites in Australia.
Daily Double
You need to choose the winner of two Horse Races in a row
Pick 3
Basically, a Pick 3 is a three-race parlay and you will need to choose the winner of 3 successive races. Whatever the minimum wager is at your chosen bookmaker will be the amount you can bet on a single Pick 3, even though it is technically a parlay. This is dissimilar to parlays placed on conventional sports. There, you would have to stake your bookmaker’s minimum bet amount on each consecutive leg.
In Horse Racing, however, you can place a Pick 3 Parlay stake that counts as one bet. You do not have to construct it yourself, either, as you do in some sports. So, if the Pick 3 bet amounts begin at 1, you can bet on the winner of all three races with just 1 unit. If you were doing so on conventional sports with the same minimum you would have to wager 3 to create a three-legged Parlay.
Pick 4
You will need to correctly identify the winner of four consecutive races.
Pick 5
Choose the winner of five races in a row. This is the five-race equivalent of a Pick 3 bet and works the same way. Again, while this wager is an expensive one, the payouts if it is successful can be enormous because of this.
Pick 6
Correctly identify the winner of six consecutive races.
It is also very common for bettors to choose more than one bet on an individual kind of wager. So, you could like No. 1 in the first race for your Daily Double stake, but feel that Nos.
1, 2, and 3 are really similar in the second race. So, instead of guessing which of these three might win you can play combinations instead, 1-1, 1-2, and 1-3.
You are making three bets, so it will cost more, but if No. 1 wins the first bet and any of your three choices take the second race, you will see an excellent return.