WAGERING 101: Winning at Preakness

HOW TO WAGER

A step-by-step guide to placing your wager as well as how to read your ticket.

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TYPES OF WAGER

There are numerous types of wagers: straight and exotic. Learn the details of wagering under each category.
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UNDERSTAND ODDS

Find odds confusing? Now you can discover how to make sense of them, once and for all.

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HOW TO KNOW YOU'VE WON

You've put your money where your mouth is and come out a winner. Now go cash in!

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HOW TO WAGER ON HORSE RACING

WHAT TO SAY AT THE WINDOW

  1. Say which track you're wagering on.
  2. Say which race you'd like to bet on.
  3. Say how much you want to bet.
  4. Say what type of wager you want to make.
  5. Say the number of the horse or horses you'd like to bet on.

Examples:

"At Pimlico in Race 3, give me $2 to win on the 5 horse."
"Race 4, I'd like to bet $2 Exacta, 1 and 4."

WHAT TO SAY AT THE WINDOW

Betting .10-Cent Supers – 10-Cent Superfecta Cost Chart (PDF)

Remember to check your tickets and count your money before leaving the window, and always keep your tickets until the race is declared OFFICIAL.

COMMON BETTING TERMS
ACROSS THE BOARD  If you want to bet one horse to win, place and show you tell the teller "$2 across the board on No.8." Now you've bet $2 win, $2 place, and $2 show for a total cost of $6.
DAILY DOUBLE  To collect you must choose the winners of two races before the first race starts. If you bet "4-1" daily double, No.4 must win the first race and No.1 must win the second.
EXACTA  To collect you must choose the first and second horses in a race in their exact order of finish. If you bet "4-1" exacta, No.4 must finish first and No.1 must finish second
TRIFECTA  To collect you must choose the first, second and third place finishers in a race in their exact order.
PICK 3  To collect you must choose the winners of three consecutive races before the first race begins.
PICK 6  To collect you must choose the winners of six consecutive races before the first race begins.
TYPES OF WAGER

STRAIGHT BETS:

WIN – You collect if your horse finishes first.

PLACE – You collect if your horse finishes first or second.

SHOW – You collect if your horse finishes first, second or third.

ACROSS THE BOARD – If you want to bet one horse to win, place and show you tell the teller "$2 across the board on No.8." Now you've bet $2 win, $2 place, and $2 show for a total cost of $6.

EXOTIC BETS:

DAILY DOUBLE – To collect you must choose the winners of two races before the first race starts. If you bet "4-1" daily double, No.4 must win the first race and No.1 must win the second.

QUINELLA – You choose two horses in a race. To collect, one horse must finish first and the other, second.

EXACTA – To collect you must choose the first and second horses in a race in their exact order of finish. If you bet "4-1" exacta, No.4 must finish first and No.1 must finish second.

TRIFECTA – To collect you must choose the first, second and third place finishers in a race in their exact order.

SUPERFECTA – To collect you must choose the first, second, third and fourth place finishers in a race in their exact order.

TWIN-TRIFECTA – To be eligible, you must choose the first three finishers of a race in their exact order in the first leg to be allowed to wager on the second leg where you must also pick the first three finishers in their exact order.

PICK 3 – To collect you must choose the winners of three consecutive races before the first race begins.

PICK 6 – To collect you must choose the winners of six consecutive races before the first race begins.

UNDERSTANDING THE ODDS

ODDS. SIMPLIFIED:

Below you'll find the payoffs on a $2 win ticket. Here's how you can figure out your payoff:

Lets look at the first odds on the chart (1-10). Multiply your bet amount ($2) by the first number in the odds (1). Then divide that number by the second number in the odds (10) and then add your bet amount to the total to get your payoff ($2X1=2, 2/10=.20, .20+$2=$2.20).

PAYOFF ON A $2 TICKET
1-10 $2.20 7-5 $4.80 4-1 $10.00 12-1 $26.00
1-5 $2.40 3-2 $5.00 9-2 $11.00 15-1 $32.00
2-5 $2.80 8-5 $5.20 5-1 $12.00 20-1 $42.00
1-2 $3.00 9-5 $5.60 6-1 $14.00 50-1 $102.00
3-5 $3.20 2-1 $6.00 7-1 $16.00 60-1 $122.00
4-5 $3.60 5-2 $7.00 8-1 $18.00 99-1 $200.00
1-1 $4.00 3-1 $8.00 9-1 $20.00    
6-5 $4.40 7-2 $9.00 10-1 $22.00    
HOW TO KNOW YOU'VE WON

HOW TO COLLECT ON TRACK

Once the race is declared official, take your winning wager to any mutuel window. At that point you can decide to collect the full amount of your winnings or wager back all or part of it on upcoming races. If you are unsure of whether you've won, bring your ticket to any window to have it checked.

TIP

Avoid cashing your ticket 5 minutes before any race as many people wait until the last few minutes before a race to place their wagers, and cashing your winnings will slow the process.