Horse racing is a popular pastime and horse-race betting is a type of wager that involves predicting the order in which horses will finish a race.

The betting odds for each horse are determined by how likely they are to win, as well as outside factors such as jockey experience or trainer success rates. And for the more adventurous, betting on horses at casinos can be equally exciting, especially if you’re lucky to be on a winning streak. But how does it work?

Well, it depends on the type of bet you prefer to place and the amount of stake you wish to place—you can choose to make your online casino payment from a myriad of methods available today. There are many ways to bet on horses, but the most popular is betting on races at the Best NJ Online Casinos.

The six types of horse race bets

1. Win

You bet on a specific horse to win, and if it wins, you get paid out according to the odds.

2. Place

Another type of straight bet is betting on a horse to finish in either first or second place. If the horse places, you collect your winnings without any deductions.

3. Show (also called Exacta)

With this bet, you are wagering that two horses will win – in order. So, if you think the number five-horse will win followed by the number six horse, then this is what you would pick when placing your bets. You’ll get very good odds for this kind of bet since it includes more than one outcome and requires two winning horses before you collect anything back from your wager. But if both horses do come in first and second respectively, then you stand to make some serious dough.

4. Across the board

In this type of bet, you pick horses to finish first, second and third in that order. There are only three possible outcomes here – not as good as the show bet’s six potential outcomes – but still, a solid payout if it comes through correctly.

5. Key numbers (also called Pick-6)

This is a multiple bet that covers six races. You pick a horse to win each race and then hope that at least one of them will be the betting favorite or ‘key number’ from 5 to 15 so you can collect your money without any deductions for having other winning horses along the way. If none of your selections has been mentioned as key numbers before the race begins, then you’ll get a reduced payout even if your horses finish in the correct order.

6. Quinella

This is another multiple bet that covers two races and requires just one horse to win both of them at once – no other horses are allowed to come in first or second place. If any other horse does win, then this kind of bet becomes a regular straight ‘place’ wager which includes deductions for having another winning horse along the way.

Betting on horses can be a fun and exhilarating experience, but it’s important to know the ins and outs of betting before you risk your cash. You should also consider factors such as skill level or luck when making these decisions so that you don’t lose too much if things go wrong; as with any type of gambling, it’s always best to err on the side of caution.