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Guide
Betting on the Kentucky Derby is fun to do and easy to learn, but it’s always good to know the horse racing betting terms, and be armed with a few betting strategies.
There are three different kinds of ‘straight bets.’ They are Win, Place and Show. The Win bet is as simple as it sounds. If you pick the winning horse in the race, then you cash in your wager.
The Place bet means that the horse you choose has to finish in either first or second place. This is generally going to pay less than the Win bet, because you have two chances to win.
The show bet means that the horse you choose has to finish in either first, second or third place. This is generally going to pay less than the Win or Place bet, because you have three chances to win.
Wagering often on the favorite may seem like a sound strategy, but it isn’t. The favorite wins only about 1/3rd of the time, and considering that the payout on Win wagers is usually pretty small, then betting predominantly on the favorite is a poor long term strategy.
On the other hand, finding longer shots that pay out more, even if it doesn’t happen as often, is the better long term play.
Betting on the Kentucky Derby is fun to do and easy to learn, but it’s always good to know the horse racing betting terms, and be armed with a few betting strategies.
There are three different kinds of ‘straight bets.’ They are Win, Place and Show. The Win bet is as simple as it sounds. If you pick the winning horse in the race, then you cash in your wager.
The Place bet means that the horse you choose has to finish in either first or second place. This is generally going to pay less than the Win bet, because you have two chances to win.
The show bet means that the horse you choose has to finish in either first, second or third place. This is generally going to pay less than the Win or Place bet, because you have three chances to win.
Wagering often on the favorite may seem like a sound strategy, but it isn’t. The favorite wins only about 1/3rd of the time, and considering that the payout on Win wagers is usually pretty small, then betting predominantly on the favorite is a poor long term strategy.
On the other hand, finding longer shots that pay out more, even if it doesn’t happen as often, is the better long term play.
