We at HorsePlayer Interactive want your racing experiences to be exciting and fun filled. We also know that it can be challenging for new horse racing fans to first learn about the many types of wagers offered and how to go about placing bets. This step-by-step primer will provide you with the introduction you'll need to participate in pari-mutuel wagering.

Basic Bet Types

WIN: This is the easiest and most popular bet. You collect if your horse is the winner of the race. On average 30% of favorites win.

PLACE: A place wager collects if your horse finishes in either first or second position. On average 45% of favorites win or place.

SHOW: A show wager collects if your horse finishes in either first, second or third position. On average 65% of favorites win, place or show.

Combinations of these three basic bets, such as "WIN PLACE SHOW" (WPS), are also available. For these combinations you are, in essence, placing multiple bets at the same time.

Wagering Minimums and Payouts

The minimum straight win, place or show wager is $2. The payouts for winning win, place or show bets are based on a $2 wager. For example, if you bet $10 to win, and the win price was $5.00, you would collect a total of $25. The math works like this: $10 (amount bet) multiplied by $5.00(winning payoff) divided by $2(minimum bet denomination) = $25.00.

Approximate Payouts

The payout you receive on a winning wager will vary based on the number and size of other winning wagers and on the total amount wagered for the given type of bet.  The odds presented for each entry are a reflection of the potential payouts. For a $2 WIN wager the following approximate payouts are typical:

Other Bet Types

Multi-Race Wagers

There are several types of wagers that can be made involving selection of winning horses across multiple consecutive races:

DAILY DOUBLE: The challenge with this type of bet is to pick the winners of two designated consecutive races. Traditionally, most race tracks start their program with a daily double on the first and second races. There may also be other daily doubles throughout the racing card. The wager must be made prior to the start of the first race of the daily double.

PICK 3, WIN 4, PICK 5, PICK 6, etc.: With these bet types bettors have to select the winners of a designated set of consecutive races. The wager must be made prior to the start of the first race in the multi-race wager.

GRAND SLAM: With this bet type, bettors must select a horse to finish either first, second or third in three consecutive races and then the official winner in the last leg.

MAGNA 5: Similar to a standard Pick-5.  Bettors must correctly select the winners of a designated set of 5 races across various tracks.

PLACE PICK ALL: With this bet type, bettors must select the most 1st or 2nd place finishers in the designated races.

SIXTY MINUTE SIX: Similar to a standard Pick-6.  Bettors must correctly select the winners of a designated set of 6 races across various tracks all within 1 hour.

Exotic Wagers

There are also several types of bets that can be made involving selection of multiple horses within a race. These bets require you to pick more than one horse in the correct order, so they are generally harder to win than a straight win, place or show wager. However, the potential for reward or the "big score" is much greater.

EXACTOR: A wager in which you select two horses that must finish first and second in the specified order in a race.

QUINELLA: A wager in which you select two horses that must finish first and second in either order in a race.

TRIACTOR: A wager in which you select three horses that must finish first, second and third in the specified order in a race.

SUPERFECTA: A wager in which you select four horses that must finish first, second, third and fourth in the specified order in a race.

SUPER HI-5: A wager in which you select five horses that must finish first, second, third, fourth and fifth in the specified order in a race.

Further, exotic bets can include boxes, keys, and wheels. A box basically covers all possible combinations of a group of horse in the same race. It consists of a multiple wager in which any of your number of horses could finish in order of first, second, and third place. A key involves making a multiple wager on a single horse in one race, along with all possible combinations of other chosen horses in that race. Finally, a wheel is a multiple wager bet that covers all horses in one race against a bet involving two or more races.

With most exotic bets the base bet amount is $1, though the total amount of your bet (i.e. taking into account all distinct combinations of selected horses) must be $2. The total cost of an exotic wager can grow significantly relative to your base bet amount if your wager involves many possible horse combinations.

Placing Your Bet

Once you have determined the details of your bet (i.e. the track, race, base dollar amount, bet type, selected horse(s)) you must place your bet. When at the track you can place your bet either at a self-service kiosk or at a pari-mutuel teller window. At a teller window you simply tell the clerk:

1. The name of the track
2. The race number
3. The amount of the wager
4. The type of wager
5. The horse number(s)

For example: "Mohawk, race four, two dollars to win on number three."

Placing bets online using HorsePlayer Interactive's HPIBET service is similiarly straight forward. Simply sign in to HPIBET using your HPI account credentials then:

1. Select the desired track and race on the 'Select Track & Race' tab
2. Select the base amount of your wager and the bet type on the 'Select Amount & Bet' tab
3. Select the horse(s) on the 'Select Horses' tab
4. Select the 'Place Bet' button and then confirm your wager

The total cost of your wager will be automatically deducted from your HPI account balance once you have submitted your wager. If your wager pays off your account will be automatically credited with your winnings once the race results are finalized.

With these introductory steps in mind you'll be well on your way to enjoying the fun of horse racing through HorsePlayer Interactive.