Seth Morris Thoroughbreds explores Bet Types and gives valuable insight on how to navigate big payout wagers such as the Pick Five. 

Today’s horse players have a wide variety of Bet Types available to them when they hit the betting windows (or a phone betting app) to put down some cash on a race. Deciding what Bet Type to utilize in a race can be just as important as selecting the top finishers in a race. 

To be effective, the best handicappers must of course select plenty of winners, and winning combinations, but they also need to be money management experts. 

Every single horse race has a distinct make up and each should be approached individually from a betting perspective. Understanding the various Bet Types available can help greatly in this regard. 

Horse Racing Bet Types

Win Bet: Cash ticket if horse finishes first

Place Bet: Cash ticket if horse finishes first or second

Show Bet: Cash ticket if horse finishes first, second or third

Daily Double Bet: Cash ticket if selected horses win two consecutive races 

Exacta Bet: Cash ticket if selected horses finish first and second in order

Exacta Box Bet: Cash ticket if selected horses finish first or second in either order

Trifecta Bet: Cash ticket if selected horses finish first, second and third in order

Trifecta Box Bet: Cash ticket if selected horses finish first, second and third in any order

Superfecta Bet: Cash ticket if selected horses finish first, second, third and fourth in order

Superfecta Box Bet: Cash ticket if selected horses finish first, second, third and fourth in any order

Pick 6/5/4/3 Bet: Cash ticket if selected horses finish first in 6/5/4/3 consecutive races

SMT Handicapping Lesson: Build a Pick Five Ticket around your Top Daily Pick

On June 1, 2024 at Churchill Downs, Seth Morris’s best pick of the day was the three-year-old filly Miss Justify, running in the fifth race. 

“SETH QUOTE HERE, WHY HE LIKED THE HORSE” said Seth Morris. “SETH #2 QUOTE HERE” 

With his best daily selection in hand, Seth set about a betting strategy for the day with Miss Justify as the centerpiece. 

“SETH QUOTE HERE WHY DID YOU DECIDE TO PUT THE HORSE IN  A PICK 5 RATHER THAN BET WIN? DID RACES 1-4 AFFECT YOUR DECISION?”

To win a Pick 5 ticket, you need to pick the winner in five consecutive races. The Pick 5 is a difficult bet to hit, so the payouts can be generous. You can bet multiple horses in any race in a Pick 5, but the ticket increases for additional horses can be costly. 

Whenever possible, horseplayers try to “single” a horse in a Pick 5 race, which means to select just one horse in a Pick 5 race. Single race picks in a Pick 5 race keep the price of the wager down but increase the risk of the bet. 

Seth decided to single his pick of the day Miss Justify in the fifth race on a Pick 5 ticket for races 1-5. 

SETH ADD DETAIL ABOUT BET STRUCTURE, AND TOTAL COST

Race Results

SETH ADD DETAIL ABOUT WINNING TICKET AMOUNT AND COMPARE WINNINGS FROM PICK 5 COMPARED TO SAME AMOUNT BET ON MISS JUSTIFY TO WIN. 

Summary Section

• TBD after Seth additions / edits