The most common types of horse racing bets and possible outcomes
Those who follow the Cheltenham Festival and other horse races purely as fans of the sport may not always know the variety of bet types that exist around the discipline. With online platforms such as Saudi Arabia 1xBet, this has become more visible, as users can compare races from different countries and follow several market formats on the same device. Here, readers will find some of the bet types that have become established in online horse racing markets.
| Bet type | What must happen | Main feature | Trifecta | Three horses finish first, second and third | Exact order matters | Quinella | Two horses finish in the top two | Order does not matter | Exacta | Two horses finish first and second | Exact order matters | Quaddie | Four race winners are selected | More than one race is involved | Each-Way | One horse wins or places | Stake is split into two parts |
Trifecta
The trifecta is a type of bet placed on a single race. In this case, bookmaker users select three horses with their respective finishing positions: first, second, and third. To win, the podium must be exactly as entered in the prediction. It is therefore a demanding type of bet, but one that usually has higher odds because the exact order must be correct. It is often analysed when a race features a large gap between the favourites and the rest of the field.
An alternative to the trifecta that works in virtually the same way is the method known as the boxed trifecta. In it, players choose three horses and the bookmakers automatically generate all possible bet combinations for them to finish first, second, and third. The bettor will therefore win regardless of the order as long as all three reach the podium. However, since this consists of several simultaneous bets, the ticket value also increases, so it is important to do the calculation considering the amount placed and the possible winnings.
Quinella
The Quinella is less risky than the previous method. In this type of bet, users select only two horses and what needs to happen for the player to win is that they finish in the top two positions, regardless of the order. It therefore has fewer conditions than a trifecta and is often analysed when two runners clearly stand out from the rest, which can be noticed when the odds for just two horses are low and significantly distant from the others.
However, precisely for this reason, the potential winnings are also somewhat lower.
Exacta
The exacta is the more different version of the Quinella. In it, two horses are also chosen to finish in the top two positions, but the order matters and the result must be exact. In practice, covering both possible orders would require two exacta selections rather than one, which changes the stake and the final calculation. Even so, it is worth knowing the exact terms for a deeper understanding of the world of horse racing betting.
Quaddie
Of all the horse racing bet types listed here, the quaddie is one of the most demanding, because it depends on more than one race and several correct selections. It depends on more than one race and consists of a bet on four winners. Quaddie bets are usually placed on different races within the same event, which allows bettors to make better use of their prior analysis.
Here, users bet on the winner of four races and, to win, they need to get all four predictions correct. In other words, the result depends on every leg being correct, so the final return is shaped by the combined difficulty of the four selections. It is common practice to bet on the 4 favourites counting on no surprises occurring in the main races. To illustrate a calculation in these cases, consider that the odds for the favourites in each race are 2.15, 1.80, 2.0, and 1.90. In a quaddie bet, the combined odds would be 14.7. In other words, if all four selections win, the final return can be much higher than the return from a single race selection.
Each-Way
The each-way bet is a little more complex, as it requires placing more than one bet on the same horse. In this approach, players define a bet stake and divide it into two equal parts. One part is then bet on that horse winning the race. The other half is placed on some other type of bet, such as that horse finishing in the Top 2 or Top 3.
This way, if the horse wins, both the win part and the place part can return. However, if the horse does not win but still finishes within the advertised places, only the place part is settled as successful. The exact place positions and payout fraction depend on the race and the bookmaker’s terms, so the return should be checked before the bet is placed.