These Are The 10 Bets You Should Avoid At The Race Track
YOU CAN LEARN HOW TO USE SCIENCE AND MATHEMATICS TO MAKE BETTING ON HORSES WORK FOR YOU AND YOUR WALLET
Below are your most common bets at most race tracks:
Win Bet – You are betting your horse will win the race. If your horse wins the race you will collect the win payoff amount. The usual minimum bet is $2. Some tracks may accept bets of $1. If you bet $1 then you will collect only half the full win payoff amount.
Avoid The Following 10 Bets Because They Are For Suckers
Place Bet – You are betting your horse will run first or second. If your horse finishes the race in first or second place you will collect the place payoff amount. The usual minimum bet is $2. Some tracks may accept bets of $1. If you bet $1 then you will collect only half the full place payoff amount.
Show Bet – You are betting your horse will run first, second or third. If your horse finishes the race in first, second or third place you will collect the show payoff amount. The usual minimum bet is $2. Some tracks may accept bets of $1. If you bet $1 then you will collect only half the full show payoff amount.
Exacta Bet – You are betting two horses in the race and you are betting they will finish first and second in the race. In addition they must finish in the exact order of your bet. The usual minimum bet is $1. Some tracks may only accept minimum bets of $2. You must pay careful attention to the payout information. Some race tracks display $1 payoff amounts and other tracks display $2 payoff amounts.
Exacta Box – You are betting two or more horses in the race and you are betting that any two of them will finish first and second in the race. It does not matter what order they finish as long as you included the first and second finishers on your betting ticket. The usual minimum bet is $1 per combination. There are multiple bets on a single ticket. Some tracks may only accept minimum bets of $2. You must pay careful attention to the payout information. Some race tracks display $1 payoff amounts and other tracks display $2 payoff amounts.
Trifecta Bet – You are betting three or more horses in the race and you are betting that any three of them will finish first, second and third in the race. The horses must finish first, second and third in the race and in the exact order you selected. The usual minimum bet is $.50. Some tracks may only accept minimum bets of $1 or $2. You must pay careful attention to the payout information. Some race tracks display $.50 payoff amounts and other tracks display $1 or $2 payoff amounts.
Trifecta Box – You are betting three or more horses in the race and you are betting that any three of them will finish first, second and third in the race. It does not matter what order they finish in provided that the horses that finish the race in first, second and third place are all on your betting ticket. The usual minimum bet is $.50 per combination. There are multiple bets on a single ticket. Some tracks may only accept minimum bets of $1 or $2. You must pay careful attention to the payout information. Some race tracks display $.50 payoff amounts and other tracks display $1 or $2 payoff amounts.
You will also see bets such as the daily double, pick 3,4, or 6, superfecta, and superfecta box. They should all be avoided because they present very poor long term probabilities of winning.
Why Should You Avoid The 10 Bets?
3 Ways to tell if you are making a bad bet and how to fix it.
The starting point of spotting a bad bet is to really focus on the fact that every bet you make is a gamble and the outcome is controlled by the Expected Value Equation. Therefore, you have to find a way to only place a bet when you have an advantage and the Expected Value Equation has a positive outcome.
Bad bet #1: Avoid bets where you have to select several horses to cash your ticket. These types of bets are pick 6 type bets and superfecta type bets. These are bad bets because there is no way to determine when you know you have an advantage and control of the Expected Value Equation.
Bad bet #2: Avoid bets where the track takeout is 20% or more. This information is readily available from numerous sources. The information is frequently available in the racing program or other published material. You can also contact the track and ask either the publicity or mutuels department. The reason to avoid these bets is the large track takeout makes finding a betting advantage more difficult, if not impossible.
Bad bet #3: Avoid betting into small mutuel pools. Your ability to win money at the race track depends on the public undervaluing a horse in your opinion. Small mutuel pools make it all that more difficult to find sufficient betting opportunities.
The fix: The fix is to bet to win and use real horse racing algorithms which provide the chance of winning for every horse in the race. Then all you have to do is compare the actual post time odds for every horse in the race to the chances of winning provided by real horse racing algorithms. When actual post time odds are at least 5/1 and double the odds predicted by the real horse racing algorithms then you have a good bet. It is really that simple.