Parimutuel Wagering

Discover the unique logic of pool-based betting where you wager against other players. Learn how odds are calculated in real-time and how to read the program for more informed racing bets.

How to Play

The Goal?

To accurately predict the outcome of an event, such as a horse race, and earn a share of the total winnings based on the amount of money bet on that outcome.

Place a bet on the outcome of the event.
At the conclusion of the event, if you made a winning selection, you — and anyone else who made a winning selection — will receive an equal share of the pool of wagers.

What to Know

Parimutuel wagering is a betting system where all bets are pooled, and winnings are divided among bettors who picked the correct outcome.
Odds are determined by the total amount of money bet on each outcome rather than fixed odds set by a bookmaker.
Types of bets include win, place, show, exacta, trifecta, superfecta, and multi-race wagers like daily double and Pick 3, 4, 5, or 6.

Payouts are calculated after the event by dividing the total pool (minus takeout) by the total amount wagered on the winning outcome.
Practicing responsible gambling and observing betting etiquette are essential for a positive parimutuel wagering experience.

Terms of the Game

Learn the key terms and concepts you’ll encounter so you’re equipped with the right language before playing the game.

Win

A bet placed on a single horse to finish first in a race.

Place

A bet on a horse to finish either first or second in a race.

Show

A bet on a horse to finish in the top three positions in a race.

Exacta

A bet predicting the first and second place finishers in the exact order.

Trifecta

A bet predicting the first, second, and third place finishers in the exact order.

Superfecta

A bet predicting the first, second, third, and fourth place finishers in the exact order.

Daily Double

A bet on the winners of two consecutive races.

Morning Line

The odds assigned by a track handicapper before the betting begins and used as a guide for bettors.

Handle

The total amount of money wagered on a race or event.

Takeout

The percentage of the betting pool that is retained by the track or betting facility to cover operating expenses and generate revenue.

Win

A bet placed on a single horse to finish first in a race.

Place

A bet on a horse to finish either first or second in a race.

Show

A bet on a horse to finish in the top three positions in a race.

Exacta

A bet predicting the first and second place finishers in the exact order.

Trifecta

A bet predicting the first, second, and third place finishers in the exact order.

Superfecta

A bet predicting the first, second, third, and fourth place finishers in the exact order.

Daily Double

A bet on the winners of two consecutive races.

Morning Line

The odds assigned by a track handicapper before the betting begins and used as a guide for bettors.

Handle

The total amount of money wagered on a race or event.

Takeout

The percentage of the betting pool that is retained by the track or betting facility to cover operating expenses and generate revenue.

Etiquette

To ensure a smooth experience for everyone at the track or window, it is helpful to have your bet details ready before reaching the teller. Being prepared with the race number, the amount of your wager, the type of bet, and the horse’s program number helps keep the lines moving quickly, especially as the race draws near. If you are new to parimutuel wagering, consider stepping aside to finalize your choices so that others can place their bets before the windows close at post-time.

Before You Bet, Get the Inside Scoop

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Parimutuel Wagering

How to Play

The Goal?

What to Know

Terms of the Game

Win

Place

Show

Exacta

Trifecta

Superfecta

Daily Double

Morning Line

Handle

Takeout

Win

Place

Show

Exacta

Trifecta

Superfecta

Daily Double

Morning Line

Handle

Takeout

Etiquette

Before You Bet, Get the Inside Scoop

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