How to Bet on Horse Racing: The Basics

No one is born knowing how to place a wager on a horse race, but the basics are very easy to learn. This guide will walk you through exactly what you should say at the betting window when wagering on the races live, and how to place your desired wager when betting on a mobile horse race betting account from either your desktop or mobile device.

Declaring wagers typically follows a pattern

Whether you’re placing a wager at home or at the track, it’s good to follow this pattern for organizing your thoughts and making sure your desired wager is placed correctly. The pattern is: Name of track, number of race, dollar amount, type of wager, number of horse(s).

For instance, if you wanted to bet a $2 exacta box in the fourth race at Aqueduct, you would say to a teller, “Aqueduct, Race 4, $2 exacta box…” then say the numbers of the horses you wish to wager on.

The process is not that much different when wagering on an online horse race betting account. First you have to call up the track and race number you need, then hit the wager button. Then you find the wager amount, the type of wager, then select the number(s) of the horse(s) you wish to bet on before submitting the wager.

Always double-check your tickets

Racetracks are not responsible for your tickets once you leave the window, and not all horse race betting sites will allow you to cancel your wagers (some impose limits), so it’s imperative that you review your wagers at the proper time.

For beginners, making what’s called “straight wagers” is usually the best way to go because it’s easy to understand how much you’re putting at risk. For instance, a ticket reading, “Aqueduct, Race 4, $2 win 1” costs two dollars. But a ticket reading “Aqueduct, Race 4, $2 win/place 1” costs four dollars, because you’re betting $2 to win (must finish first to cash) AND place (may finish first or second to cash) on the No. 1 horse.

“Boxing” what’s called “exotic wagers,” such as exactas (top two finishers in order) and trifectas (top three finishers in order), also tends to trip up beginners when it comes to ticket cost. For example, a ticket reading “Aqueduct, Race 4, $2 exacta 1/2” costs just two dollars. But a ticket reading “Aqueduct, Race 4, $2 exacta box 1/2” cost four dollars, because you’re essentially making two wagers; a $2 exacta 1/2, and a $2 exacta 2/1. You’re doubling your chances of winning, but doubling the cost.

Betting on desktop vs. betting on mobile

Whether you’re using your desktop, your mobile browser, or an mobile app, the basics of building your bets still applies. Go to the track list and select your desired track, then pick the race you need. Declare the base dollar amount of your wager, the type of wager you wish to make, and the number(s) of horse(s) you wish to bet.