A simple horse racing betting guide.

WIN - If you wager on a horse to win, it must finish first.

PLACE - If you wager on a horse to place, it must finish first or second.

SHOW - If you wager on a horse to show, it must finish first, second or third.

DAILY DOUBLE - A wager involving two horses in two different races. You must select the winner of both races in order to collect.

EXACTA - An exacta wager requires the bettor to select two horses in the same race to finish first and second in exact order.

QUINELLA - The quinella wager is the same as the exacta except that the horse may finish first and second in either order.

TRIFECTA - A wager on three horses in the same race to finish first, second and third in exact order.

PICK 3 - A wager involving three horses, each in a different race. You must select the winner in each of three separate races.

PICK 4 - A wager involving four horses, each in a different race. You must select the winner in each of four separate races.

SUPERFECTA - This new wager requires the bettor to select the first four finishers, in exact order of finish, in a specified single race.

PICK 6 - This wager is a long shot specialty for lucky handicappers. In order to win, players must select the winners in each of six separate races. Money wagered in these pools is carried over from day to day until it is won. Bettors have the potential of winning hundreds of thousands of dollars on a single two dollar bet.

SCRATCHED HORSES - If you bet on a horse that is subsequently scratched, withdrawn from a race or declared a non-starter, the bettor is entitled to a refund in most cases. If a scratch occurs in a Pick 6 wager, the post-time favorite will be the default entrant.

COUPLED ENTRIES OR FIELDS - A wager on an entry or field horses is usually a wager on both or all and the player gets two or more horses for the price of one. If one of the horses in a coupled entry or field is scratched, the player still has action on the others.

ODDS & PAYOFFS -  Odds represent the chance the bettors have determined each horse has for winning a race. The following table shows the $2 payoff for the 1-9 favorite to the 99-1 long shot:

ODDS   PAYOFF    ODDS    PAYOFF   
1-9        2.10           3-1         8.00   
1-5        2.40           7-2         9.00   
2-5        2.80           4-1         10.00   
1-2        3.00           5-1         12.00   
3-5        3.20           6-1         14.00  
4-5        3.60           7-1         16.00   
1-1        4.00           8-1         18.00   
6-5        4.40           9-1         20.00   
7-5        4.80          10-1        22.00   
3-2        5.00          20-1        42.00   
8-5        5.20          30-1        62.00   
9-5        5.60          40-1        82.00   
2-1        6.00          50-1       102.00  
5-2        7.00          99-1       200.00