Betting on horse racing does not mean that you have to be present right there on the racetrack. Today, you can place your bet online and in the comfort of your home.
Horse racing betting has it own vocabulary and not all of it is comprised of the four-letter words yelled by the bettors as their horse finishes up the track.
So, here a few of the words and phrases you might hear round the racetrack:
Across the Board: A bet type where you bet on a horse to win, place, show. A variation some gamblers prefer to use is betting one unit to win, two units to place, and three units to show, where a unit is a dollar amount.
Breakage: A track paysout any winning by rounding to the nearest dime.
Chalk: When a horse is the favorite, or has the most money bet on it that horse is termed the chalk.
Flat Bet: You bet the same amount for a wager.
Exotic Wagers: Exotic wagers involve two, three, or even four horses.
Handle: Total amount wagered at the track.
Out of the Money: When your horse finishes in some position other than win, place, or show.
Parlay: A parlay bet can be thought of as your own special multi-race wager, where if you win in the first race played, then those winnings are used for the next race bet.
Pool: The total amount bet for each bet type.
Place: Horse has to either win or come in second for the ticket holder.
Racetrack: An area marked out as the location of a race.
Show: Betting a horse to show that the horse will finish first, second, or third in a given race.
Showjumping: A discipline in which horse and rider clear a number of obstacles on a fixed course, usually within a time limit, earning penalty points for faults.
Stakes: A sum of money wagered on a horse, or the money offered as the prize in a horse race.
Tote: A system of betting on horses where a winning punter is paid out in proportion to the total amount bet on the horse.
Win: The horse has to come in first in order for the ticket holder to collect.