For those who have visited a horse racing track or two in order to watch a horse race, the sport is a very exciting one indeed. The sport is even much more exciting when you have something at stake on the potential outcome of the race, ie when you are betting on horses. You don’t really need a fortune to get yourself started in participating in this noble sport. A few horse racing tips will start you on your way but you may want to understand these terms first so you can make better use of the horse racing tips you learn about and know how to place a bet.

Quinella

A Quinella is usually a bet made on which horses will be the first out of two horses. By making such a bet you’re selecting a particular horse to come in first before another specific choice. This sort of bet is excellent if you want to mix things up a bit and compare horses based on certain strengths.

Daily Double

Some people are rather gifted at picking winners of horse races or have a good horse racing tip or two to take advantage of, if you can guess the winners of two consecutive races correctly, you might want to bet on the daily double. The daily double pays out winnings based on your selection of the winners of two consecutive races.

Win

A Win is a self-explanatory term which usually applies to the the horse which wins the particular race in question.

Place

The term Place is used to refer to the horse that comes second in a race. The beauty about betting on horses is that making bets on winners is not the only thing you can do. You can assess the chances of a horse coming second by comparing statistics of all horses and making assumptions or conclusions on how things should finally turn out.

Show

The Show is the horse which places third in any given race. A show bet is a rather safe bet to make but it doesn’t tend to pay as much as a win or a place bet. However, for those rather low on cash who are looking to make safe bets, this is a good choice to make.

Exacta

An Exacta is rather similar to a Quinella but in the case of the Exacta, the order is rather important. For example if you bet on a 3-7 Exacta. Horse 3 must then win and horse 7 place for you to get a payoff. Because order matters in this bet, the Exacta tends to pay more than the Quinella.

Trifecta

A bet on a Trifecta is a bet on three horses to finish in order. It tends to pay rather well but you have to have a knack for the game before you attempt this one. A 3-5-6 Trifecta is a bet on horse 3 to win, horse 5 to place and horse 6 to show. The amount that such a bet pays all depends on the odds of the particular horses in question.