Continuing with our Theme about Horse Racing Exotics. Lets take a look to the -Multi-Race Betting Options
Daily Double, Pick 3 or Win 3, Win 4 or Pick 4, Pick 6
The most common multi-race bets require you to pick the winners of anywhere between 2-6 individual races in a row. The most common multi-race wagers are the Daily Double, Pick 3 or Win 3, Win 4 or Pick 4 and Pick 6.
There are a few significant advantages to playing multi-race wagers. The first is the fact that each multi-race wager has its own separate betting pool. The government and race track takeout is applied to a multi-race bet only once, despite that fact that the bet occurs over multiple races. In contrast, a separate win bet on each race would be subject to the government and track takeout on each bet on each race. So while multiple-race wagers inherently have more risk, they also offer better odds partly due to a takeout which occurs only once rather than on each race.
The second advantage to multi-race wagers is the fact that the public tends to overbet certain combinations. Like intra-race wagering, many bettors have not yet figured out how to properly structure multi-race tickets. This results in inefficiencies in the wagering pools. These inefficiencies, when combined with the one-time takeout, often provide excellent value-based opportunities for smart handicappers and bettors. As in intra-race wagering, it pays to understand the mechanics of multi-race exotic wagering.
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Daily Double Betting – The first exotic wagering option to appear at racetracks in North America, Daily Double betting requires you to select the winner of two consecutive races. For example, if you play a $2 Daily Double 5-8, the 5 horse must win the first race in the Daily Double and the 8 horse must win the second race in the Daily Double in order for you to cash a winning ticket. A popular option among many bettors is a $1 Daily Double Wheel, in which multiple horses are combined in one leg of the wager with multiple horses (or a single horse) in another leg of the wager. For example, a $1 Daily Double wheel of 2, 3, 4 with 5, 6 would include six possible combinations at a cost of $6 and would be a winning ticket if horse 2, 3 or 4 won the first race and horse 5 or 6 won the second race.
Traditionally offered on the first two races of a race card, many racetracks now offer both an early and late Daily Double and some rare tracks even offer rolling Daily Doubles throughout the card on consecutive races. Because the Daily Double is the oldest of the exotic multi-race wagers, it is very popular among traditional long-time race goers. For more info, see our article on Daily Double Betting.
Pick 3 Betting – The Pick 3, also sometimes known as the Win 3, offers an excellent opportunity for a good score with a minimal outlay of cash. It requires you to select the winner of three consecutive races. For example, a $2 straight Pick 3 of 2-1-4 would require that horse 2 win the first race (leg) of the Pick 3, horse 1 win the second leg and horse 4 win the third leg, in order for you to cash a ticket. A popular wagering strategy among many Pick 3 bettors is the $1 Pick 3 wheel. For example, if you play a $1 Pick 3 wheel combining horses 5 and 6 in the first race of the Pick 3 with horses 1 and 2 in the second leg with horses 6 and 7 in the third leg (5,6 with 1,2 with 6,7) at a cost of $8 ( $1 * 2 horses * 2 horses * 2 horses = 8 possible combinations), horse 5 or 6 must win the first race of the Pick 3, horse 1 or 2 must win the second race and horse 6 or 7 must win the third race in the Pick 3 in order for you to cash a winning ticket.
Traditionally offered twice on a race card, many tracks now offer rolling Pick 3s on consecutive races throughout the race card. There are a variety of different methods and tricks used for betting the Pick 3 that can give you an advantage over your fellow bettors. To learn more about Pick 3 wagering strategies please see our Pick 3 Betting page.
Win 4 Betting -The Win 4, also sometimes known as the Pick 4, offers both casual and professional players a chance at a four-figure score with a minimal to reasonable outlay of cash. It requires you to select the winner of four consecutive races. For example, a $2 straight Win 4 of 1-6-5-7 would require that horse 1 win the first leg of the Win 4, horse 6 win the second leg, horse 5 win the third leg, and horse 7 win the fourth leg of the Win 4, in order for you to cash a ticket. Wheeling is also a popular strategy in Win 4 betting. For example, if you play a $1 Win 4 wheel combining horses 1 and 2 in the first race of the Win 4 with horses 5 and 6 in the second leg with horses 6 and 7 in the third leg with horses 4,9 in the fourth leg (1,2 with 5,6 with 6,7 with 4,9) at a cost of $16 ($1 * 2 horses * 2 horses * 2 horses * 2 horses = 16 possible combinations), horse 1 or 2 must win the first race of the Win 4, horse 5 or 6 must win the second race, horse 6 or 7 must win the third race and horse 4 or 9 must win the fourth race of the Win 4 in order for you to cash a winning ticket. Traditionally offered once on a race card, many tracks now offer both an early and late Win 4. To learn more about Win 4 wagering strategies please see our Win 4 Betting page.
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Pick 6 Betting – The Pick 6 offers all types of bettors a chance at make a life-changing score. The most expensive of the exotic multi-race bets, it is not uncommon to see five and six figure payoffs on a daily basis. Generally appealing to those with a larger bankroll, the Pick 6 requires you to pick the winner of six consecutive races – a very difficult task.
While playing the Pick 6 as a straight $2 ticket at a cost of just $2 offers a chance at the big money, the odds of winning using this method would be more like playing the lottery. For example, if each race in a Pick 6 had eight horses, the odds of a straight $2 ticket coming in might be calculated as (8 * 8 * 8 * 8 * 8 * 8 = 262,144 combinations) or 262,144 to 1. Of course, all horses generally do not have an equal chance of winning each race, so the odds can be reduced accordingly based on your selections and their relative chances of winning. And since no bettor can afford to cover all 262,144 combinations, or even the thousands of semi-logical combinations, a single horse or key must often be used in one or more races of the Pick 6 in order to make the ticket affordable.
As an example, let’s say you found two races in the Pick 6 in which you really liked one horse and a few other races where you could narrow down the contenders. Your $1 Pick 6 Wheel ticket might look like this: 7 with 1,2,3 with 2,4 with 5 with All (8 horses) with 5,6. The cost of such a $1 Pick 6 wheel would be ($1 * 1 * 3 * 2 * 1 * 8 * 2 = 96 combinations) $96 – certainly affordable. A popular method of playing the Pick 6 is to combine the financial resources of several bettors in an effort to cover more combinations. Multiple $1 Pick 6 wheel tickets costing in the range of $500 to $1000 are not uncommon when trying for a six-figure payout. To learn more about Pick 6 wagering strategies please see our Pick 6 Betting page.
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