Multiple or Exotic Bets
In North America, there are many exotic bets involving one more races. On a single race, Exacta involve picking the 1st 2 finishers in correct order, Trifectas requires the 1st 3 finishers in order, Superfectas are made up of the 1st 4 finishers and under different titles some tracks offer a wager on the 1st 5 finishers. Risk increases proportionately with the number of horses involved and reward also increases. Multiple Race wagers are also offered that include doubles that require the player to select the winner of 2 consecutive races and increses to Pick 3,s, Pick 4’s, Pick 5’s, Pick 6 and so on.
Risk or Probability can be calcualted based on win percentage. For example, if the handicapper is capable of picking winners at a 33% rate then the probabilities for a double win are 1/3 X 1/3 or 1/9 chance of winning. On a pick 3, this increases to 1/27. These probabilities are reduced by playing multiple horses in each race but more money is put at risk and a higher payoff is required to achieve a profit.
An important strategy for Exotic Plays is to find a horse with an edge or win advantage that is not the favorite. Playing an”overlay” as key a key selection increases the profit potential significantly. It is very worthwhile to practice on making this type of selection to determine when you may have an edge in an exotic bet. This is an aproach that requires patience and perseverence but it can turn a losing player into a winner if practiced consistently. Of course, careful money management, as discussed above, has to be applied in this approach as losing streaks will increase but winning plays can quickly turn the bankroll around.
Multi-Race Wagers are doubles, Pick 3’s, Pick 4’s, Pick 5’s, Pick 6’s etc. The greater the number of races involved increase both the risk and the reward. A calculation of probability on a Pick 3 for a player who can predict 60% winners ( from 1 or more picks per race) looks like this: 6/10 = 3/5 probsability X 3 Races or 3/5 X 3/5 X3/5 = 27/125 or about 22% win rate or 1/5 chance of winning. These types of wagers require a large bankroll in order to survive losing streaks