One of the most anticipated horse racing events is quickly approaching, and the COVID-19 pandemic will never be a hindrance. The 147th Kentucky Derby is scheduled on Saturday, May 1, 2021, at Churchill Downs in Louisville, Kentucky, United States. Fans and bettors are already preparing their list of favorites and bets.
Aside from just mere watching, betting on the Kentucky Derby is a fantastic experience. It brings more excitement to viewing this particular event. But before engaging in horse race betting, you must first know these different types of betting games available for the Kentucky Derby in 2021. It will help you decide on what betting type you can most profit with.
This betting type is the purest one in horse racing. Many bettors have used it in the past up until now. Regularly, the minimum amount of the wager is $2. Here are the three classifications of a standard wager:
This classic type is the most straightforward among the betting classifications. You will place your bet on the future you predict will win, then collect the bets when your team actually wins.
This type is similar to the ‘win wager’, but this time, you will place the bet on who will finish in first or second place in the horse racing. Remember that if you place a bet here, no matter if your horse comes first or second, you will gain the same amount of money.
The downside of this, though, is it has a smaller reward. This is because ‘place wager’ reduces the risk of losing. You have a higher probability of winning, which means gaining money than in ‘win bet’. If you have what it takes and want for bigger returns, bet on ‘win’.
This is got to be the most straightforward wager to go in horse racing. You will place a bet on the horse you think might end up in the top three. The reward is still the same when it places either in the top three.
Show wager is the safest betting on the horse race. But then, it also offers the smallest rewards. If you want more excitement and can afford to possibly lose money, choose ‘win’ or ‘place’ bet.
The ‘exotic wager’ is betting on two or more horses. It has a steeper winning probability but gets higher payoffs. In a single race, it involves waging on the finish order.
Exacta is one of the oldest exotic bettings. You have to pick the top two horses to likely win in the correct order. The minimum wager amount ranges from $1 to 2$.
Quinella is similar to ‘exacta’ but an easier and simpler betting type. With this, the ranking of the top two horses you predict can cross the wire in either of the order. This pays less though but more secures your win than exacta.
Trifecta can make your chances of winning get steeper and has higher risks. You’re required to predict the horses you think will finish the race and place top three in the correct order this time. It is much more challenging than the previous types, but the payoff is totally worth the risk.
In the exotic bet single race, superfecta has the biggest reward, yet the hardest to win. It requires you to bet on the horses you predict will place in the top four in the correct order. This is not recommendable for beginners because it takes so much experience to get this betting type right. This is such a challenge to any expert bettors.
This betting type is picking the winning horses in two or more consecutive horse races. This multi-race wager can be exciting if you want to maintain your interest throughout the entire horse racing event.
In a ‘double,’ you will select the horse you think will win in two consecutive matches. The minimum bet for this is within the range of $1 to $2. This is also called ‘daily double’.
These picks are all similar to a ‘double’, but are tweaked in the number of consecutive matches.
In Pick 3, you’re going to select the possible winners in three straight matches. It has a minimum amount of $0.5 to $1.
The Pick 4 requires you to pick four consecutive winners. The minimum budget required for you to bet can be $0.5
Picking five consecutive winners is a difficult prediction for Pick 5. But the jackpots here give you massive bonuses when odds are with you. You can gain a significant return even for playing a $0.5 minimum.
In a Pick 6 you bet for six consecutive winners — This has even larger returns and larger bonuses.
Betting has never been easy. It involves math behind the odds you bet on to, which requires experience to master. Start with simple betting types, master it, and improve until you can already challenge more complex types with much higher returns and bonuses.