How to Play the Pick 3, Pick 4, Pick 5 and Pick 6

Unlike their sister exotic wagers, a multi-race wager like the Pick 3, Pick 4, Pick 5 and Pick 6 asks the bettor to determine the outcome of multiple consecutive races. In these wagers, only the winner of the race matters.

Pick 3s, et al., requires a great deal more handicapping than the customary wager within one race, but the payoffs can be extremely rewarding. Let’s dive into the particulars.

Betting the Pick 3

The Pick 3, which requires bettors to pick the winner of three straight races, is typically offered at a $1 minimum base, though 50 cent minimums can be found at several tracks. In recent years, the Pick 3 has become a “rolling” fixture at many tracks, meaning they’re offered on every eligible race on the program.

Unlike Daily Doubles, probables are not offered on track feeds when placing a Pick 3. Bettors should be aware that a Pick 3 won’t pay much if the sequence is dominated by favorites or if the field sizes are small.

Figuring out cost is slightly easier than doing so for trifectas and such. Simply multiply the number of horses you’re using in each leg of the Pick 3 (and up) to figure out your cost for a $1 minimum.

Example: Belmont Race 1, $1 Pick Three 1/1,2,3/1,2,3,4 costs $12, because one times three times four equals 12.

Betting the Pick 4

Unlike the Daily Double and Pick 3, there are usually only two Pick 4s offered on a given program, with the last four races often serving as the late Pick 4 sequence. At most tracks, the minimum for a Pick 4 wager is 50 cents.

The Pick 4 is a happy medium for multi-race players looking for a sizable score without having to break the bank. The track’s takeout rate (percentage of the money they take out of the pool before paying off to the bettors) is typically lower on Pick 4s than Pick 3s and Daily Doubles, leading to naturally higher payoffs.

Pick 4s (and up) also have the occasional advantage over Pick 3s and Daily Doubles of a “guaranteed pool,” meaning the track will make up whatever shortfall there might be below a certain guaranteed amount.

Betting the Pick 5

Like the Pick 4, there’s usually only two Pick 5s offered on a given card. Pick 5s, typically at a 50 cent minimum, have become wildly popular due to their low takeout rates and potential for boxcar payouts.

Of course, the Pick 5 is that much harder to hit than a Pick 4, and will typically warrant a bigger investment.

Betting the Pick 6

Believe it or not, the Pick 6 predates most multi-race wagers, aside from the Daily Double, at most racetracks.

Initially set at a $2 minimum and luring those with only the deepest of pockets, the Pick 6 has morphed at many tracks into a 20-cent “jackpot” wager, which means the entire pool will only be paid off to one unique winning ticket, otherwise the vast majority of the pool will carry over to the next racing card.

The jackpot Pick 6 has been a lightning rod of controversy since its inception, with handicapping experts decrying that it’s only a good wager when there’s a mandatory payout day.