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Kentucky Derby Wagering Information
by: beatnikjd
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While you are at the Kentucky Derby you may want to try your luck at the betting windows. A bet on a race always makes the outcomes of the race more interesting so why not try your luck. There are several factors and variables when betting on a horse. These include bloodline, sire (father), dam (mother), not to mention the trainers, grooms and jockeys. These are well trained 3 year olds, but they are still animals so anything can happen. Below is a short basic glossary of horse wagering terms.
Betting at the Derby is pari-mutuel which essentially means betting among ourselves, in other words if you play roulette in a casino you are betting against the house but in horseracing you are betting in a pool of sorts with other bettors. Odds are set by how much money is bet on individual horses.
HANDICAPPING Professional handicappers evaluate horses using factors such as, a horses' past performance, behavior before and during previous races, genetics (bloodline), the jockey riding the horse, and the trainer and groom.
TYPES OF WAGERS Across the board wager. You are betting on the horse selected to win, place, or show. If you are lucky and your horse comes in first you will collect 3 ways. If your horse comes in second you will collect 2 ways. If your horse comes in third you will collect one way.
EXACTA With this type of wager you must pick the first two finishers in the exact order they finish.
QUINELLA With this wager two finishers must be picked and payoff is made no matter which horse finishes first or second
SHOW The horse that finishes third. SHOW BET Wager on a horse to finish third or better.
TRIFECTA This involves picking the first three horses in the exact order they finish.
WIN BET Picking which horse finishes first.
BOARD A tote board on which odds and betting pools are displayed.
DEAD HEAT Two horses finish in exact tie. (Rare today because of new photo finish technology)
MINUS POOL A mutual pool caused by heavy betting on a particular horse. If after deductions for state tax and commission there is not enough money to pay the legally prescribed minimum payouts the racing association usually makes up the difference so everyone gets paid.
IN THE MONEY Finishing first, second or third.
ODDS ON Odds of less than even money example 5 to 4 on is really 4-5 odds.
ON THE NOSE Betting to win only.
POOL Total sum bet on a race or a particular bet.
TAKE Commission deducted from mutual pools, shared by track and local and state taxes.
WIN BET Betting on a horse to finish first.
OTHER HELPFUL TERMS
FIRST TURN The first bend in the track past the starting point.
PADDOCK Area where horses are saddled before post time. This area is usually open to the public so you can look at and make your decisions on different horses to wager on. You can observe the interaction of the trainers and grooms with the horses. This is an excellent place to observe pre race behavior.
POST Starting point or position at starting gate.
NECK Usually the length of a horses neck or a quarter of a length.
BACKSTRETCH The straight way on the far side of the track.
FURLONG 220 Yards, 660 ft or 1/8 of a mile
Remember you can place bets for as little as $2.00 or any amount you choose so go ahead and try your luck and we wish you the best of luck. You can purchase racing forms, and you will be inundated with information at the track. Keep in mind that before post time the odds will change on some horses, so keep your eye on the tote board
About the Author
Jeffrey Davis is a lover of horse racing and a marketing executive at Triumph Marketing, you can find more of Jeff's horse racing articles at the Kentucky Derby Information site http://www.kentuckyderby131.com
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