One good tip for betting on Kentucky Derby Day is to give yourself a budget and stick with it. Don’t overextend yourself.
Also, don’t be afraid to take a chance. So what if the horse that shares the same first name as your cousin from Greene has 65-1 odds? If you like it, put some money down. What if that horse Wins?
That said, here is a brief Debry Day wagering review.
WHAT IS A WIN, PLACE & SHOW BET? The first is a WIN wager. The horse must Win the race in order for you to Win the wager. Next, is a PLACE wager, which is betting on a horse to finish in the top 2. You Win if your horse finishes 1st or 2nd. Betting a horse to SHOW means picking a horse to finish in the top 3. You Win the wager if your horse finishes 1st, 2nd, or 3rd.
HOW DO YOU BET AN EXACTA? An Exacta bet is a step up from a Win, Place and Show bet. To place an Exacta bet, you pick two horses to finish in 1st and 2nd place. The horses have to finish in that order for you to Win the bet.
WHAT IS AN EXACTA BOX? A common way to bet is to box your choices. The two horses you select would have to finish 1st and 2nd, but unlike a regular Exacta, they can finish in any order. This also means you can pick more than two horses. But that also increases the price. A $1 Exacta Box with three horses will cost $6.
HOW DO YOU BET A TRIFECTA? Trifecta betting is popular because of its difficulty as a small wager can have a BIG payout. To place a Trifecta bet, you pick three horses that you think will finish 1st, 2nd and 3rd. The horses have to finish in that order for you to Win the bet. The minimum bet on a Trifecta at most tracks is 50 cents.
WHAT IS A TRIFECTA BOX? A common way to bet a Trifecta is to box your choices. The three horses you select would have to finish 1st, 2nd or 3rd, but unlike a regular Trifecta, they can finish in any order. This also means that you can pick more than three horses. But doing so could get pricey: A $1 Trifecta Box with three horses costs $6 while using six horses costs $120.
HOW DO YOU CALCULATE A TRIFECTA PAYOUT? Calculating the potential payout is difficult because of the large number of combinations to choose from.
However, they can be very profitable. In the 2009 Derby MINE THAT BIRD Won the race at odds of 50-1. In 2nd place came PIONEER OF THE NILE at 4-1, followed in 3rd by 20-1 MUSKET MAN. If you had that $1 Trifecta ticket you were cashing out with $20,750 dollars !
That is the kind of Value the Daily Racing Blog is always on the lookout for.
On Wednesday we will begin our preview of this years edition of the Kentucky Derby, and on Friday we’ll render our opinion on who we think will be wearing the roses come Saturday night.