Derby 101 : Betting & Winnings
Place Your Bets!
With a race schedule in one hand and pencil in the other, gamblers (new and seasoned) fill their tickets with hopes of joining the victorious in the Winner’s Circle. As the horses dash over the finish line, the announcer’s play by play accounting echoes through the roaring crowd, and hopefuls dash to the betting booths to predict who will bring home the purse!
How Much Can I Win Betting on Horses?
When you win, you will receive back the money you bet, multiplied by the odds of your bet winning.
Where Do the Winnings Come From?
Each type of bet has its own cash account or pool. When you win, your money comes from this pool. Horse Racing bets are a pari-mutual system, which means you are not betting against the racetrack to try to win, you are wagering against other betters.
Betting Strategy:
Some Derby patrons choose to come prepared with statistical analysis, others choose the winning horses based on the whimsical Thoroughbred names or colors of the silks, but in the end, it's all up to the performance of the horses and jockeys to make you a winner!
Betting Terms:
WIN ... Bet a horse to win, and if he finishes first, you collect.
PLACE ... Bet a horse to place, and if he finishes first or second, you collect.
SHOW ... Bet a horse to show, and if he finishes first or second, or third, you collect.
ACROSS THE BOARD ... Betting to win, place and show (three separate bets)
DAILY DOUBLE ... Pick the winner of both the first and second races, and you collect. This is a very popular bet!
THE EXACTA BETS ... The exacta wagers require you to correctly pick the exact order of finish of more than one horse, and sometimes also in more than one race. The risk is higher, but the reward (or payoff) is greater.
PERFECTA ... You win by picking the first two horses to cross the finish line in exact, or perfect, order.
BOX ... You win by picking the first two horses in either order to cross the finish line.
TRIFECTA ... You win by picking the first three horses to cross the finish line in exact order.
SUPERPERFECTA ... You win by picking the first four horses to cross the finish line in exact order. If no one correctly selects all four finishers, the payoff goes to those who picked the first three.
TRIFECTA
TWIN TRIFECTA ... You win by picking the first three horses to cross the finish line in exact order in both of two designated races. Only those who correctly pick the trifecta finish on the first race may exchange their tickets for a second-half twin trifecta ticket. If no one correctly picks the twin trifecta, the pool is carried over until the next racing day, or until someone wins.
KEY... Key a horse to win, plus two others in either order to come in second or third. Pays one half of the Trifecta
BOX ... You win by picking the first three horses to cross the finish line in any order.
PICK 3 ... The Pick 3 is like the Daily Double, but you win if you pick the winner in three successive designated races, usually the fourth, fifth and sixth races. If no one correctly selects all three winners, there is a consolation payoff for those with the next number of winners.
PICK 4 ... The Pick 4 is like the Daily Double, but you win if you pick the winner in four successive designated races, usually the third, fourth, fifth and sixth races. If no one correctly selects all three winners, there is a consolation payoff for those with the next number of winners.
BOXES AND WHEELS ... You can increase your chances of winning with boxes and wheels because they allow you to combine several bets all on one ticket.
A PARTIAL WHEEL ... Lets you pick only some of the possible combinations, and costs less than a complete wheel.
Post Time Wagering Ticket Provided By Derby Experiences
Upon arriving at your destination, ask your Derby Experiences representative for your wagering card with post times or stop by a Derby Experiences hospitality venue to pick up your card. The back of the card will have the above terms and odds for a quick reference. Example pictured below.
How Do I Get Information on Odds?
Race Day Programs include the odds for each horse running in the races, a summary of their past winnings, and information about their jockeys and caretakers. Additionally, betting Odds at Churchill Downs are posted on tote boards in the track infield, in the paddock area and on televisions screens and are updated in real-time as bets are placed.
How Are Odds Calculated?
Odds are calculated by how many people bet on each horse. Odds quoted are based on a $1 bet, even though a minimum bet is $2. If the odds are 20 to 1, you could win $20 for every $1 you wagered.
