Regular horse racing punters know all about the types of bets you can place on horse racing in Australia. However at Melbourne Cup time many novices have their first ever bet on racing and often get confused by some of the betting types available.

Below we explain the different types of horse racing bets

Standard Bets

Win Bet – Simply pick the runner that you think will finish first in a race

Place Bet – Pick a runner in a race and if your runner finishes first, second or third you will collect your place dividend. (A third place dividend is only paid in races with eight or more runners)

Each Way Bet – An Each Way bet combines the Win and Place bets. If your runner wins, you will collect both a Win and Place dividend or if your runner finishes second or third you will collect the Place dividend only

Exotic Bets

Exotic bets are different to the normal bets like betting on a horse to Win a race or run a Place. They give you the opportunity to win large amounts from a small outlay

Quinella
A Standard Quinella is when two runners must be selected to place First or Second in any order for the wager to be successful.

A Standout Quinella is where a punter can select as many runners as they like from the same race, however the punter must nominate the runner they think will place First or Second to the nominated selection. One of the other selections must finish either First or Second to the nominated selection.

A Box Quinella is when more than two selections are made, up to the total number of runners in that event. However two of the selections must place First or Second in any order for the wager to be successful. The more runners that are ‘Boxed’ in a Quinella, the higher the number of combinations

Exacta
An Exacta is when the first two place getters are selected and nominated in that order for the wager to be successful.

Trifecta
A Standard Trifecta is when the first three place getters are selected and nominated in that order for the wager to be successful

A Standout Trifecta is is where a punter can select as many runners as they like from the same race, however the punter must nominate the runner they think will place First only and then other runners to run Second and Third

A Boxed Trifecta is is where a punter selects three or more runners to run 1st, 2nd and 3rd, and 3 of the runners must fill the placings of 1st, 2nd and 3rd, in any order

First Four
A First Four wager is when the first four runners are selected and nominated in that order for the wager to be successful

Double
Pick the winner of two consecutive or nominated races to win! Running Double and Daily Double bet types are available.

Treble
Pick the winner of the three consecutive treble races to win!

Quadrella
Everyone loves a crack at what is affectionately termed ‘the quaddie'. Pick the winner of the four consecutive quaddie races for a chance to pocket a whopping dividend!