For Beginners

How To Bet On Horse Racing For Beginners

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Betting on horse racing can be fun and accessible even for complete beginners. The most straightforward way to start is with “win,” “place,” and “show” bets. A win bet is picking a horse to finish first. A place bet is your horse finishing first or second. A show bet is your horse finishing in the top three. These are all based on a $2 base bet, though you can wager more. You can also bet a horse “across the board,” meaning you’re betting it to win, place, and show simultaneously—a $6 total bet on a $2 base[1].

Understanding horse racing odds is essential. Odds are usually displayed as fractions (e.g., 10-1 or 7-2). The first number is how much you win; the second is how much you bet. For example, 10-1 means you win $10 for every $1 wagered. 7-2 means you win $7 for every $2 bet. The higher the first number, the less likely your horse is to win, but the higher the payout if it does[2][3].

You can also explore multi-race bets when comfortable. For example, a “Daily Double” is picking the winners of two consecutive races. The more horses you include, the higher your wager. For example, picking three horses in the first race and four in the second would cost $12 for a $1 base bet (3 x 4 = 12 combinations). Favorites (horses with the shortest odds) pay less but are more likely to win, while long shots (higher odds) pay more but are less likely to win[5].

At the track or online, the process for placing a bet is generally:

  • Choose your track and race number.
  • Pick the amount to wager.
  • Select your bet type (win, place, show, exacta, etc.).
  • State the horse’s number.

For example: "Keeneland, race 3, $2 to win on #5" places a $2 win bet on horse #5 in the third race at Keeneland[7].

As you get more experienced, you can try exotic bet types like exacta (pick the first two finishers in order), trifecta (top three in order), or superfecta (top four in order). But to start, stick to simple bets until you understand how odds work and how to read the racing program[7].

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