The extensive array of wagers available on a horse race today can sometimes be overwhelming to a new fan of the sport. Just a generation ago, bettors were typically limited to win, place and show wagering on each race and perhaps one Daily Double. That certainly isn't the case to day. Here's a primer on how to get in on the action through these so-called â€exotic†wagers. There are two main types of exotic bets: intra-race (or â€verticalâ€) wagers and inter-race (or â€horizontalâ€) wagers. Intra-race wagers include: Quinellaâ€"Pick the first two finishers of a race in any order. Exactaâ€"Pick the first two finishers of a race in any order. Trifectaâ€"Pick the first three finishers of a race in any order. Horizontal wagers include: Pick Threeâ€"Pick the winners of three consecutive races. Pick Fourâ€"Pick the winners of four consecutive races. Pick Fiveâ€"Pick the winners of five consecutive races. Pick Sixâ€"Pick the winners of six consecutive races. There are typically four different betting strategies that can be used with these wagers: a straight bet, box, wheel and part-wheel. We'll use an example Trifecta and Pick Four bet to illustrate the different strategies. Here's how it works: To cash a $1 straight Trifecta bet on 5-7-8, the order of finish would have to be 5 in first place, 7 in second place and 8 in third place. However, a $1 Trifecta box using 5-7-8 would cash as long as the 5-7-8 finished in the top three in any order. This bet would cost you $6 since you now have each horse in every position. Technically it is six separate bets: 5-7-8, 5-8-7, 7-5-8, 7-8-5, 8-5-7, 8-7-5. In a part wheel, you are keying a single horse in a specific position. This is a great bet if you determine one horse is the likely winner and any of three or four others figure to battle for second-place and third. Let's say you view the 5-horse as the likely winner and the 2, 3, and 4 as the major competitors. You bet a part-wheel using 5 WITH 2,3,4. This will cost $6 and pays out if the 5 wins and either of your three other horses finish second and third. In horizontal wagers such as a Pick 4, which requires you to pick the winners in four straight races, employing a part-wheel is usually a good idea. Many bettors will try and find a â€single,†in which you find the most likely winner of a race in the sequence and use a group of horses in the other three legs. For example, you think the 5-horse is the likely winner of Race 5. However, the next three races are wide-open and any one of several runners look like they have the potential to win. By using a part-wheel, you can gain better coverage. For example, if there are three win candidates in each of the next three legs you can bet a Pick Four by singling the 5-horse in the 5th race WITH 2,3,4 WITH 1,5,7 WITH 5,8,9. This bet would cost you just $9 dollars and would pay handsomely if it wins. The beauty of horse racing as a gambling entity is, typically unlike sports wagering, you can make a potentially life-changing score with just a small bet by using these strategies for exotic bets
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