Depending on your chosen online sportsbook, there are most likely multitudes of different horse racing betting options to choose from – all of which can be rather overwhelming to the novice punter.
You are going to come across terms such as quinella, quaddie, and parlays, but fret not – our ultimate guide to horse racing bets will have you well-prepared for getting started!
Single Race Bets
Win: pick the runner you think will come in 1st place.
Place: pick a runner and if they finish in 1st, 2nd, or 3rd place, your bet will be successful.
Each Way: a combination of the Win and Place bets – if your selection comes in 1st place, you will get paid out for both the Win and Place wagers, but if your selection comes in 2nd or 3rd, you will be paid out for the Place wager only.
Quinella: correctly select 2 runners to come in 1st and 2nd place in any order.
Exacta: correctly select 2 runners to come in 1st and 2nd place in exact order.
Duet: correctly select 2 of the 3 runners to come in 1st, 2nd, and 3rd place, in any order.
Trifecta: correctly select the runners that will come in 1st, 2nd, and 3rd place in exact order.
First 4: correctly the select the 4 runners that will come in 1st, 2nd, 3rd, and 4th place in exact order.
Multi Race Bets
Daily Double: correctly select the 2 winners of 2 specified races at the same meeting.
Running Double: correctly select the winners of 2 consecutive races at the same meeting.
Quaddie: correctly select 4 winners from 4 specified races. It’s particularly popular with Aussie sports betting and requires you to make at least one selection in all 4 races.
Big 6: correct select 6 winners from 6 specified races and you will need to make at least one selection in all 6 races.
Parlay Formula: a bet in which you parlay your winnings from one race into one or more races. To parlay means to create a single bet that ties together 2 or more individual bets and is dependent on all the bets winning together. You can combine a minimum of 2 and a maximum of 6 bets in a Parlay Formula.
More Betting Options and Terms
Boxed Bet: a boxed bet is available on Quinella, Exacta, Trifecta, and First 4 bets and means to cover all possible combinations for the finishing order and can result in a big win.
Standout: a standout is available on Quinella, Exacta, Trifecta, and First 4 bets and refers to the single runner you’ve selected to come in 1st place and any other runners selected can fill the other places in any order.
Multi-Bet: a multi-bet is available on Quinella, Exacta, Duet, Doubles, Trifecta, First 4, and Quaddie bets and refers to when more than one runner is selected in each leg of the bet.
Roving Banker: a roving banker is available on Exacta, Duet, Trifecta, and First 4 bets and refers to a selection termed the ‘roving banker’ which must finish in a place with the other selections filling the remaining places in any order.
Flexi Betting: flexi betting is available on Quinella, Exacta, Doubles, Trifecta, First 4, Quaddie, and Big 6 bets and allows you to define the total amount you would like to spend on the bet, including as many selections as possible at an outlay which suits your budget.