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Know and understand the different horse racing betting types

It is always a good idea to be prepared for any endeavor that you wish to undertake. Preparing helps boost your chances of doing well (or winning, if the event happens to be a competition), and increases your confidence going into the event. As any good general or business tycoon will tell you, planning and preparing properly means already winning half the battle.

This adage is true not just in war, military exercises or business strategy, but can and should be applied in daily life as well. Yes, this means even in recreation. After all, for enthusiasts and aficionados, and those who have put their own resources at stake, entertainment is serious business. Thus, for those who are looking at horse racing as their chosen form of recreation, it helps to be aware of the following betting types.

An Across the Board bet is for a horse to win (or come in first), place (the technical term used by the sport to designate a second place finish) or show (or end the race at third place), resulting in collecting three ways, two ways and one way, respectively, depending on the actual horse finish. This is in contrast to a Win Bet (which is on a horse to come in first), a Place Bet (for a horse to come in first or second), or a Show Bet (a bet for a third or better finish). A Win Bet has a similar concept as a wager On the Nose or a Straight Bet, as all involve wagering on a horse to win.

Another of these betting types is the Boxed Bet, a bet which involves several horses and all the resulting possible combinations. Similar concepts are the Exacta and Trifecta. The former involves betting on the exact two horses to finish first and second, while the latter involves naming the actual first, second and third place winners. Relatedly, a Superfecta goes one step further, as it is a wager on the first four finishers of the race, in the exact order that they finish.

A Daily Double Bet is a bet on the victorious horses of two consecutive races. A Pick Six (or more) wager is an expansion of this concept, as it is a bet on all the winners of all the involved races.

A Quinella is a betting type in which you pick the first two finishers but not necessarily in the correct order. Thus, you receive your winnings regardless of which horse actually wins and which one comes in second.

These are the betting types that you should be aware of before you spend your day at the racetrack.