A bet on horse racing can be confusing, but this is a guide to all your horse racing bets explained at AustralianBettingSites. Whether it be a simple win/place bet or an exotic bet such as the quaddie, we explain the key betting types and different types of bets out there.
Horse Betting Types
| Bet type | When recommended |
Win | Backing a horse to win the race outright. Great for confident selections. |
Place | Pays if your horse finishes 1st, 2nd, or 3rd. Safer than Win bets. |
Each Way | Combo of Win + Place bets. Good for horses with longer odds. |
Quinella | Pick top 2 horses in any order. Good for two likely contenders. |
Exacta | Pick top 2 horses in exact order. Higher risk, higher return. |
Trifecta | Pick top 3 finishers in exact order. High reward, more difficult. |
First Four | Pick top 4 finishers in exact order. Ideal for big-field races. |
Quadrella (Quaddie) | Pick winners in 4 selected races. Great for Saturday racing. |
Same Race Multi | Combine multiple outcomes in one race. High flexibility and payout. |
Running Double | Pick the winners of two consecutive races in the same meeting. |
Parlay (All-Up) | All selections must win. Payout grows with each correct pick. |
Flexi Betting | Bet a portion of full stake across combinations. More coverage, lower cost. |
Jockey Challenge | Bet on the jockey with the most points across races in a day. |
Favourite vs Field | Bet on the favourite or everyone else to win. Great for upsets. |
Head-to-Head | Choose which of two horses finishes ahead. Simple, quick bet. |
Top Fluctuation | Get the best official price before the race begins. |
Best Tote / SP | Pays the highest of 3 totes or official starting price (SP). |
Mid Tote / Tote+ | Returns the middle of 3 tote prices or a small bonus payout. |
Win
When recommended
Backing a horse to win the race outright. Great for confident selections.
Place
When recommended
Pays if your horse finishes 1st, 2nd, or 3rd. Safer than Win bets.
Each Way
When recommended
Combo of Win + Place bets. Good for horses with longer odds.
Quinella
When recommended
Pick top 2 horses in any order. Good for two likely contenders.
Exacta
When recommended
Pick top 2 horses in exact order. Higher risk, higher return.
Trifecta
When recommended
Pick top 3 finishers in exact order. High reward, more difficult.
First Four
When recommended
Pick top 4 finishers in exact order. Ideal for big-field races.
Quadrella (Quaddie)
When recommended
Pick winners in 4 selected races. Great for Saturday racing.
Same Race Multi
When recommended
Combine multiple outcomes in one race. High flexibility and payout.
Running Double
When recommended
Pick the winners of two consecutive races in the same meeting.
Parlay (All-Up)
When recommended
All selections must win. Payout grows with each correct pick.
Flexi Betting
When recommended
Bet a portion of full stake across combinations. More coverage, lower cost.
Jockey Challenge
When recommended
Bet on the jockey with the most points across races in a day.
Favourite vs Field
When recommended
Bet on the favourite or everyone else to win. Great for upsets.
Head-to-Head
When recommended
Choose which of two horses finishes ahead. Simple, quick bet.
Top Fluctuation
When recommended
Get the best official price before the race begins.
Best Tote / SP
When recommended
Pays the highest of 3 totes or official starting price (SP).
Mid Tote / Tote+
When recommended
Returns the middle of 3 tote prices or a small bonus payout.
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Quadrella Bet
The Quadrella bet (or Quaddie) is something that punters should know when seeking high returns. You have to select the winners of the four races nominated, usually the final four of a metro meeting at Flemington, Rosehill etc. Quaddie suggestions are contained in many Horse racing Tips, such as our Saturday tips have them every week. Of all the different types of bets that can be placed in horse racing, this bet has a possible payout that can be huge, particularly when one has roughies.
Each way bet
Each Way is among the most common types of horse bets, which is a combination of Win and Place bet. You are paid when your horse wins (both bets pay off) or places (the place bet wins). It is an effective plan when supporting runners with higher odds. When your horse comes in second or third, you get something back instead of nothing. It is one of the types of bets that suits those punters who would like to have a balance between risk and reward.
Quinella Bet
A Quinella bet is flexible in that you must pick the first two to finish, but in any order. It is one of the traditional horse racing bet types, which are recommended in case you know two horses are outstanding, but you are not sure which one will be first and which one will be second. The Quinella offers and bonuses are also excellent in many new betting sites. It is an enjoyable, easy choice among forms of betting where perfection is not needed.
First Four
The First Four bet is a more sophisticated and well-paying if you get it right. You must choose the first four horses in the correct order of finishing (if it's a straight bet). Betting apps with box and flexi bet options come in handy, as they allow you to cover more to have a greater chance of a big payday. This is just one of the types of betting options available for horse racing.
Place Bet
When you are betting to be consistent, place bets are great. Your horse just has to be a top three finisher (top two with fewer than 8 runners). It is one of the safest bets in racing. It’s not just useful in horse racing though, Greyhound Betting benefits a lot as there are plenty of upsets, which is great for place betting. Favourites or when you are not sure whether your runner can win but will be thereabouts.
Win bet
Win bet is the easiest to understand among all types of horse racing bets, in my opinion. Your horse has to be the winner. It is perfect when there is a strong runner or when one is sure of the form. A lot of punters follow AFL Tips or NRL Tips pages to get multi-bets that involve Win bets. Good for favourites or good form lines.
Trifecta Bet
A Trifecta bet involves you picking the first three finishers in the correct order. It is quite a risky, but high-paying bet that becomes common in major race days such as the Spring Carnival or Melbourne Cup Tips. A lot of punters box their selections so as to cover more combinations.
Same Race Multi Bet
Same Race Multi bets are new versions of traditional Racing Betting Types. You are able to mix several results of one race, e.g. Horse A to win and Horse B to be top 4. Most betting apps offer them and they have betting bonuses on big race days.
Exacta Bet
An Exacta bet is a common choice on betting sites and you have to select the first two horses in the correct finishing order. The payout is greater than a Quinella, and the risk is greater, as well. It is a clever move when you are sure of how the race is going to be.
Read More About Betting Types
