There are a number of ways for bettors to have action in horse racing and specifically on the Kentucky Derby. While the prestigious race marks one of the most talked about and exciting scenes in sports, figuring out the best approach to take when betting on the race can be a tough task.
But when it comes to the “most exciting two minutes in sports” and the many other horse races, the win, place and show bet is a popular route to take. But while “win, place and show” means finishing in first second or third, that’s not necessarily how betting on this specific angle works.
We’re going to take a look at how win, place and show bets work along with what differentiates them from just a standard “show” bet.
Win, Place & Show Bets Explained
The general bets on horse racing including betting on a horse to win, which means they obviously must finish in first. Those odds will pay out well if you hit, but it’s a tough task. From there, place bets are placed on a horse to finish in either first or second. Regardless of where the horse finishes, the payout is the same, though.
But where things get interesting is the difference between a show bet and a win, place and show bet. Just a straight show bet is when you will select one horse to finish in either first, second or third and the payout is the same regardless of where they finish.
The concept of a win, place and show bet is similar, as you’re selecting one horse to place inside of the top-three. The key difference is that where the horse finishes will depend on the payout received from the bet. This means that a win will pay out more than a place result while the place finish is going to pay out more than a show.
Quinella & Exacta Horse Racing Bets Explained
Going one step further than the win-place-show bets, you can look into either making a quinella or exacta bet on horse racing. The two are very similar in the general rules, but one key difference changes the payout on this bet quite a bit. For quinella’s, you’ll choose two horses to finish in either first or second place, but the order of their result doesn’t factor into the decision.
In turn, if you’re able to pick the two horses who finish in first and second, regardless of the order, the bet would be paid out as a winner.
But for an exacta, it’s just as the name makes it sound. You select two horses to finish in first and second, but you have to get the order correct in your pick. It’s certainly a far tougher task, even if it doesn’t seem that way. A photo finish in the race could result in the difference between a bettor taking home a big payday, or walking away empty handed.