Everyone knows that you can bet on the winner of a horse race. But did you know that there are actually a variety of different horse racing wagers to choose from? Many people don’t, and they miss out on some great betting opportunities as a result.

That’s why we recommend learning about ALL the diverse types of horse racing wager available. We would even go as far as to say that it’s essential if you’re serious about trying to make money. Betting only on the winner of races can severely limit your chances of success, while using a variety of different wagers is much more likely to be profitable in the long run.

Even if you’re a casual bettor, and only bet on the major horse races, it’s still a good idea to be aware of all your options. We have found several wagers we believe to be more stimulating than just betting on the winner of the race. Not to mention, many of them offer the potential for much better payouts too.

Horse betting payouts are determined according to your wager according to the proportion of the odds. If you have a calculator handy, this will be an easier determination. First, convert the fraction to a decimal by dividing the bottom number, or the denominator, into the top number, or the numerator. Carryovers The information displayed on this page is based on carryovers reported within race results. While most carryovers are typically offered by tracks for wagers on the next upcoming race day, some tracks may not offer a particular wager on the next wagering day but could still be listed on this page.

We’ve listed all the different horse racing wagers below, and explained how each one works. You may not want to use each and every wager on a regular basis, but they can all be valuable in the right situations.

Horse Betting Winnings Calculator

SHOW (S) bets require that a horse finishes in 1 st, 2 nd, or 3 rd place. I’m going to use the diagram (of the finish of a race) below to answer some common questions on the Win, Place, Show bets. The Tote-Board Win odds are above each horse in parenthesis. How do you calculate the expected payout for a Win Bet? Win payouts are based on a $2. After the vig is taken out, the rest of the money in the pool is used to pay out the winners. The payouts in a horse race change in real time up until the start of the race. As new wagers are collected, the offered payouts change to account for the new betting action. This is why favored horses offer lower payouts. The Oaks-Derby Double is a popular bet in horse racing. A $1 wager on Shedaresthedevil, who won Friday's Oaks at 15/1, with Tiz the Law in the Kentucky Derby will pay $46.10.