Exotic Bets

Exotic bets involve betting on more than one horse or race simultaneously. Though these bets can pay off at enormous odds, they’re generally difficult to win. In addition, the track take on exotic bets is higher than on straight bets, making exotic bets less financially sound. But if the excitement of potentially high payoffs is worth it to you, take the plunge with one or more of the following bets.

The daily double is a bet to win on two horses in two different races. The two races are selected by the track and are almost always the first two races of the day (to encourage bettors to arrive early). If either of your horses fails to win, you lose your daily double bet.

To bet on the daily double, say the dollar amount, the words daily double, the number of the horse to win in the first race, followed by the number of the horse to win in the second race. Winning odds for the daily double are displayed on the tote board.

The pick three, pick four, and pick six are bets to win on three, four, or six consecutive races, respectively, on the same day. The races are selected by the track and aren’t necessarily the day’s first races. (The pick-six bet is usually for the last six races, to encourage bettors to stay all day.)

All the pick bets work very much like the daily double, but you have to pick more winners and are therefore paid at higher odds. If any of your horses fails to win, you lose your pick bet. An exception to this is for the pick-six bet. If no one wins the pick-six bet, the winning pool is split among bettors who correctly picked five of the six winners.

To make a pick bet, say the dollar amount, the words pick three (or four or six, as appropriate), followed by the numbers of the horses to win in order by race. Because of the large number of possible combinations for these bets, the payout odds are not displayed on the tote board. The clerks at the betting windows will be able to tell you the approximate odds for each combination, but the precise odds aren’t determined until all pick bets are made.

An exacta, also called a perfecta, is a bet on the first and second horses in a single race, in order. If your two horses come in first and second place, but not in the order you specified, you lose your exacta bet. To make an exacta bet, say the number of the race, the dollar amount, the word exacta, the number of the horse to finish first, followed by the number of the horse to finish second. Winning odds for exacta bets are displayed on the tote board.

A quinella is a bet on the first and second horses in a single race, irrespective of order. To make a quinella bet, say the number of the race, the dollar amount, and the word quinella, followed by the numbers of the two horses. Winning odds for quinella bets are displayed on the tote board.

A trifecta is a bet on the first, second, and third horses in a single race, in order. If your three horses come in first, second, and third place, but not in the order you specified, you lose your trifecta bet. To make a trifecta bet, say the number of the race, the dollar amount, the word trifecta, the number of the horse to finish first, the number of the horse to finish second, followed by the number of the horse to finish third. Because of the large number of possible permutations for these bets, the payout odds are not displayed on the tote board. The clerks at the betting windows will be able to tell you what the approximate odds are for each permutation, but the precise odds aren’t determined until all pick bets are made.

A twin trifecta is a bet on the first, second, and third horses in two races, in order. It’s equivalent to making trifecta bets in two races but with higher payout odds. You make a twin trifecta bet in the same manner as you would for making two trifecta bets separately, but say the words twin trifecta instead of trifecta. Unlike most multirace bets, winning only the first half of a twin trifecta still results in a payout. If you win the first trifecta, go to the window to collect your winnings for that race and a trifecta ticket for the second race. The clerks at the betting windows will be able to tell you what the approximate odds are for a twin trifecta, but the precise odds aren’t determined until all trifecta bets are made.

A superfecta is a bet on the first, second, third, and fourth horses in a single race, in order. If your four horses come in first, second, third, and fourth, but not in the order you specified, you lose your superfecta bet. To make a superfecta bet, say the number of the race, the dollar amount, the word superfecta, the number of the horse to finish first, the number of the horse to finish second, the number of the horse to finish third, followed by the number of the horse to finish fourth. Winning odds for superfecta bets are not displayed on the tote board but may be obtained from the clerks at the betting windows.

Bettors sometimes use the following strategies when placing exotic bets.

For exotic bets in which order is relevant—the exacta, trifecta, twin trifecta, and superfecta—boxing means betting on every permutation so that you win regardless of the order in which your horses finish. For example, if you think that horses 2, 5, and 8 will finish in the top three places, but you’re unsure of the order, you can box your trifecta bet. This is equivalent to making a trifecta bet for each of the six possible permutations: 2-5-8, 2-8-5, 5-2-8, 5-8-2, 8-2-5, and 8-5-2. Rather than make each bet separately, simply tell the clerk that you’d like to box your bet.

Wheeling, or keying, a horse means making multiple exotic bets using the same horse as part of each bet. You might do this if you’re sure about one horse in an exotic bet but want to cover your bases for the other horse(s). For example, if you think that horse 4 will win the eighth race but don’t know which of 3, 5, or 6 will finish second, you could make multiple exacta bets, all with 4 as the winning horse. This is called wheeling the 4 horse. To make this bet for $10, say, “Race 8, $10, exacta, 4 with 3-5-6.” The word with indicates that you’re wheeling a horse.