ow to bet on horse racing and win! The first thing to understand is that in traditional horse racing betting, you are in direct competition with the bookie - the human or company that lays the odds. They want your money, and you want theirs. Each bookie has an oddsmaker - a human or system that creates their book. In theory a book is structured so that the bookie cant lose - whoever wins the race, the odds are so structured as to guarantee a profit to the bookmaker.

The most common types of horse race bets are:-

Straight bet (a.k.a Single or Win bet). This is a bet that a certain horse will win. For this, you are given definite odds. If your selection wins, so do you, receiving back the amount specified by the odds you accepted.

Place bet. This is a bet that your horse will finish either first or second, and of course has worse odds than a straight bet.

Show Bet. This is a bet that your horse will finish either first, second, or third and of course has worse odds than a place bet.

Combination Bet. This bet allows you to choose between two and four horses to win in a specified order. The cumulative odds on this may multiply rapidly if you get it right.

Pick 3 bet. You must pick the winners of three consecutive races. This is surprisingly hard to do, as you have to choose all 3 before the first one kicks off.

Pick 6 bet. You must pick the winners of six consecutive races, choosing all 6 before the first one kicks off.

Quiniela or Reverse Forecast (UK) bet. You might bet on two horses to finish first and second in a single race where the order doesnt matter - either horse A is first and Horse B is second, or vice versa. To bet you say "$10 quiniela, numbers 3 and 7". If the results of the first two horses are either 3-7 or 7-3, you win.

Perfecta / Exacta / Straight Forecast (UK) bet. You bet on two horses to cross the finish line in exactly your chosen order. To bet you say " $5 Perfecta, 4-7." Only if the horses finish 4-7 you win.

Trifecta / Tricast / Treble Forecast (UK) bet. Like a Perfecta, but betting on three horses to cross the finish line in exactly your chosen order. To bet you say "$10 trifecta numbers 3,2 and 5." Only if they finish 3-2-5 you win.

Superfecta bet. Thats right - you guessed it! four horses to cross the finish line in the exact order you specify. At www.supabets.com we quite like this one.

Daily Double. Allows you to select the winners of the first and second races of the day, placing your bet before the beginning of the very first race. To bet you say something like "$5 daily double on 6 (your pick to win in the first race) and 2 (your pick to win in the second race