May 20, 2022
bets in Australian horse racing

What are the Different Types of Bets in Australian Horse Racing?

The fun of sports betting is incomparable. Emotions are rising and falling with the athletes on the field. Adrenalin pumps, increased confidence, and victory are fun – and profitable. Not surprisingly, sports betting has increased dramatically as more states have ratified the practice.

There are many types of bets in Australian horse racing for any situation on sports betting sites. Let’s get past the most popular ones so that you can be fully prepared the next time you are ready to bet.


Typical Bets in Australian Horse Racing

Win/place/show wagers have existed for generations, and there is no more pure form of horse racing betting than these three traditional bets. If you’re interested in betting on a single horse—your preferred selection—then consider one of these bets in Australian horse racing. Typically, the minimum bet is around $2.


Bets on Win-Place-Show


Betting on horse racing may be both enjoyable and simple. Each race offers a variety of wagers, but the following are the three most basic bets in Australian horse racing:


Win Wager

It is one of the simplest bets in Australian horse racing. You win your bet if your preferred horse wins the race. Betting on a horse to win is exactly what it sounds like – the horse must win the race for you to win the wager.


Place Wager

Are you concerned that your preferred candidate may lose in a photo finish? This option is covered by the place bet, which allows you to cash a ticket if your selection finishes in the top two. If your horse finishes first or second, you win the wager.


Show Wager

A show bet is the easiest among other bets in Australian horse racing; it pays out whether your horse finishes first, second, or third. Typically, payouts are less than those generated by win or place bets. If your horse finishes first, second, or third, you win the wager.


Exotic Gambling

Exotic wagers entail betting on two or more horses in a single race or across multiple races.

While they are more difficult to strike than win/place/show wagers, the payoffs can be substantial. You can purchase additional tickets and combinations to boost your odds of winning, but this raises the cost.

Exotic bets are classified into two types:

  • Exotics of a single race.
  • Exotics of multiple races.

Single-race exotic wagers, sometimes known as “vertical” exotics, entail betting on the order of finish in a particular race. The complexity grows as you attempt to select additional finishing positions, but so does the possible profit.


Exacta Wager

The exacta, one of the oldest exotic wagers, requires you to pick the right order of the top two finishers. The minimum wage varies every track and often ranges between $1 and $2.

If you’ve mastered the technique of winning, placing, and showing, give Exacta a try. Exacta wagering is more difficult than win, place, and show wagering, but it pays out more. You bet an Exacta wager by choosing at least two horses to finish first and second. For you to win the wager, these horses must finish first and second, respectively.

If selecting two horses in sequence appears to be too tough, you can “box” your wager. A boxed wager wins if your horses finish first and second, in any order, increasing your chances of winning.


Trifecta Wager

The trifecta adds another element of complexity by requiring you to correctly order the top three finishers. Frequently, the minimum bet is 50 cents.

If you’ve mastered the art of winning, placing, and showing, give a trifecta a try. Because a trifecta is more difficult to win than a win, place, and show wager, as well as an exacta betting, it pays out more than any of those wagers. To win the wager, these horses must finish first, second, and third in that same order.


First Four

A First 4 is identical to a trifecta with the exception that you must choose the first four horses in exact sequence (again these can be boxed but the costs per unit will increase accordingly). A box first four costs $24 and guarantees you 100% of the payoff, as there are 24 different combinations of four horses finishing in any order.



Daily Doubles are an exotic bet in which you must predict the winner of two races at the same meeting. Typically, these events will be the third last, and last race of the meeting, and will frequently contain the feature race. There is a case to be made that these are a better alternative than running doubles because they have a slightly larger pool size due to the inclusion of the feature race and are held just once per meeting, as opposed to running doubles, which are held throughout the programme.



Few sports have a betting market as large or profitable as Australian horse racing. There are plenty of methods to bet on the horses, whether at the track, at the TAB, or over the phone, but internet bookmakers are far and away from the most convenient option to place your racing wagers.

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