all betting pools

Question
hello sir. can you please explain me all the betting pools at  american thoroughbred racetracks?

Answer
Hi Rohit:

Thanks for your question.  I am quoting from my e-book on thoroughbred handicapping that is for sale on my web site for $29.95:

Quote:

Betting Options (Types of Wagers Available)
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Win: This is that most basic bet that the chosen horse will finish in first place.

Place: This is a bet that the chosen horse will finish first or second.

Show: This is a bet that the chosen horse will finish first, second, or third.

Daily Double: This is a bet on the first place position in two consecutive races, generally the first two of the day and/or the last two races.  The bettor must correctly pick both races to win.  Some tracks, like Churchill Downs, have rolling Doubles throughout their cards - this could also be called a Pick Two wager.

Daily Triple/Pick Three: This is a bet on the first place position in three consecutive races.  There are also Pick Four and Pick Five pools which are exactly like the Pick Three pools, but sometimes when there are no winners they pay 3 out of 4 for a Pick Four or 4 out of 5 for a Pick Five.

Pick Six: This is a bet on the first place position of six consecutive races, generally the last six.  In the event nobody wins, the winning pool is split between those correctly picking five (or less if nobody picked five) and a carryover to the next pick six pool.

Exacta/Exacter/Exactor/: This bet is on the first and second place horses in a given race in the correct order.  Most Canadian tracks call this an Exactor.

Trifecta/Triactor/Triple:  This bet is on the first, second and third place horses in a given race in the correct order.  Most Canadian tracks call this a Triactor and a lot of Midwest United States' patrons call this a Triple#

Quinella: This is a bet is on the first and second place horse in a given race in any order#
Trifecta: This bet is on the first, second, and third places in a given race in the correct order#

Twin Trifecta: This is a pair of trifecta bets on two races#  The winning pool is split between winners of the first trifecta and winners of both of them#  After the first race, winners of that trifecta should redeem their tickets for winnings from the first half of the pool and a ticket for the second half#

Superfecta: This bet is on the first, second, third, and fourth places in a given race in the correct order#

Jackpot Hi-Five/High Five:  This bet is like a Superfecta, just adding a fifth place finisher#

Place 5:  This bet is picking a runner to finish first or second in five consecutive races#

Odd/Even: This is an uncommon bet based on the number of the winning horse#
The minimum bet is generally $2 on win, place, and show bets, and $1 on all others#  The player may bet above the minimum but all bets must be an even dollar amount #no change##

Unquote

This covers the majority of the betting pools in the United States and Canada - most of the wagers can be boxed or keyed with multiple choices#

I am now quoting #also from my e-book# on the track take-out money #operating fees##

Pari-Mutuel Wagering ?An Overview
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The racetrack operates on the same principle as an insurance company#  A group of bettors pool their money together through an agent #either the track or the insurance company#, the agent takes out a cut for themselves to cover expenses and profit, and the rest is given back the winning players#  In an insurance situation, the bettors are betting on death or some kind of casualty - at the track the bettors are betting on horses#
At the track there are various types of bets available#  All money bet on a specific kind of wager is pooled together#  Once the betting is closed, the track will deduct their share to cover taxes, dues to the Racing Association, overhead expenses, purse money, and the Breeders?Fund#  For example, at the Pimlico track in Baltimore #home of the Preakness stakes# the track will deduct 17% to 25% depending on the type of wager#  The remainder of the pool will be divided among the winning bettors#

Unquote

Here is a quote from my e-book on betting terminology:

Betting Terminology

?  Win - A wager placed on a horse to finish first#
?  Place - A wager placed on a horse to finish first or second#
?  Show - A wager placed on a horse to finish first, second, or third#
?  Win/Place - A 2-Bet wager placed for equal dollar amounts on a single horse to win or to place#
?  Win/Place/Show - A 3-Bet wager placed for equal dollar amounts on a single horse to win, to place or to show#
?  Win/Show - A 2-Bet wager placed for equal dollar amounts on a single horse to win or to show#
?  Place/Show - A 2-Bet wager placed for equal dollar amounts on a single horse to place or to show#
Daily Double###
?  Daily Double - A wager in which a bettor selects the winners of each of the two races designated as a double#
?  Daily Double Forward Wheel - A Multiple-Bet wager on the daily double in which the bettor selects one horse to finish first in the first race of the double, coupled with EACH horse to finish first in the second race of the double#
?  Daily Double Reverse Wheel - A Multiple-Bet wager on the daily double in which the bettor selects one horse to finish first in the second race of the double, coupled with EACH horse to finish first in the first race of the double#
?  Daily Double Partial Wheel - A Multiple-Bet wager on the daily double in which the bettor selects one or more horses to finish first in the first race of the double, coupled with one or more horses to finish first in the second race of the double#
Quinella###
?  Quinella - A wager in which the bettor selects two horses to finish first and second, in either order#
?  Quinella Box - A Multiple-Bet wager in which the bettor selects three or more horses on one ticket, making every possible two-horse combination of the chosen horses to finish first and second, in either order# The number of bets for each combination of horses is: #No# of horses# X #No# of horses less 1# X ?= Total Bets#
?  Quinella Wheel - A Multiple-Bet wager in which the bettor selects one horse to pair with all other horses to finish first and second, in either order#
?  Quinella Partial Wheel - A Multiple-Bet wager in which the bettor selects any number of horses coupled with any other horses to finish first and second, in either order#
Exacta###
?  Exacta - A wager in which the bettor selects two horses to finish first and second in the same race in the exact order to finish#
?  Exacta Box - A Multiple-Bet wager in which the bettor selects two or more horses on one ticket, making every possible combination of the chosen horses to finish first and second in exact order# The number of bets for each combination of horses is: #No# of horses# X #No# of horses less 1# = Total Bets#
?  Exacta Forward Wheel - A Multiple-Bet wager in which the bettor selects one horse to finish first, coupled with all other horses in the race to finish second in the exact order of finish#
?  Exacta Reverse Wheel - A Mulitple-Bet wager in which the bettor selects one horse to finish second, coupled with all other horses in the race to finish first in the exact order of finish#
?  Exacta Partial Wheel - A Multiple-Bet wager in which the bettor selects one or more horses to finish first, and one or more horses to finish second, in the exact order of finish#
Trifecta###
?  Trifecta - A wager in which a bettor selects three horses to finish first, second and third in the same race, in the exact order of finish#
?  Trifecta Box - A Multiple-Bet wager in which a bettor selects three or more horses on one ticket, making every possible three-horse combination of the chosen horses to finish first, second and third, in exact order of finish# The number of bets for each combination of horses is: #No# of horses# X #No# of horses less 1# X #No# of horses less 2# = Total Bets.
?  Trifecta Wheel - A Multiple-Bet wager in which the bettor can couple all horses to finish in either the first, second or third position, with a single horse selected for the other two of the three positions. The bettor can also couple a single horse to finish in either the first, second or third position with all horses for the other two of the three positions.
?  Trifecta Partial Wheel - A Multiple-Bet wager in which the bettor can couple one or more horses to finish first, with one or more horses to finish second, with one or more horses to finish third.
Pick-"X"...
?  Pick-"X" #"X" can represent 3, 6, or 9, that is, Pick-3, Pick-6 or Pick-9# - A wager in which the bettor selects the winning horse in "X" #the number of# consecutive races.
?  Pick-"X" Wheel - A Multiple-Bet wager in which the bettor selects a horse to finish first in one of the "X" races, with all the horses of the other "X" less 1 races.
?  Pick-"X" Partial Wheel - A Multiple-Bet wager in which the bettor selects one or more horses to win the first of the "X" races, coupled with one or more horses to win the second of the "X" less 1 remaining races, etc., until the win positions are selected for all of the "X" consecutive races.

Unquote:

Again thanks for your question.  I hope this helps - if you feel I have adequately answered your question, please leave me a favorable rating.