Thought it would be fun to see explanations of most common betting terms. Here are some of the more common types of bets that you can place at Churchill Downs to bet on horse races:

• Win: to succeed the bettor must pick the horse that wins the race.
• Place: the bettor must pick a horse that finishes either first or second.
• Show: the bettor must pick a horse that finishes first, second or third.
• Across the board: the bettor places three separate bets to win, place or show.
• Exacta, perfecta: the bettor must pick the two horses that finish first and second, in the exact order.
• Trifecta: the bettor must pick the three horses that finish first, second, and third, in the exact order.
• Superfecta: the bettor must pick the four horses that finish first, second, third and fourth, in the exact order.
• Box: a box can be placed around exotic betting types such as exacta, trifecta or superfecta bets. This places a bet for all permutations of the numbers in the box. An exacta box with two numbers, commonly called quinella, is a bet on either of two permutations: A first and B second, or B first and A second. A trifecta box with three numbers has six possible permutations (of the horses in the “box” three can finish first, two can finish second, and one can finish third: 3 × 2 × 1) and costs six times the betting base amount. A trifecta box with five numbers has 60 possible permutations and costs 60 times the betting base amount (5 × 4 × 3).
• Daily Double: the bettor must pick the winners of two successive races (a ‘running’ or ‘rolling’ double); most race tracks take double wagers on the first two races on the program (the daily double) and on the last two (the late double).
• Triple: the bettor must pick the winners of three successive races; like doubles, many tracks offer “running” or “rolling” triples. Also called pick three or more commonly, a treble.
• Pick six or Sweep six: Traditionally, the bettor must pick the winners of six consecutive races. However, there are variants ranging from three to nine races, with a four-race bet known as a Pick Four. Exclusively for the pick six, a progressive jackpot is sponsored by the host track and available at its satellite locations which grows until someone picks six winners correctly. There is also a consolation prize for those who pick five winners correctly, divided amongst the number of tickets registered in the system with five out of six right, in a case where nobody gets five or six winners, a four out of six consolation prize may occur.

Win, place and show wagers class as straight bets, and the remaining wagers as exotic bets. Bettors usually make multiple wagers on exotic bets. A box consists of a multiple wager in which bettors bet all possible combinations of a group of horses in the same race. A key involves making a multiple wager with a single horse in one race bet in one position with all possible combinations of other selected horses in a single race. A wheel consists of betting all horses in one race of a bet involving two or more races. For example a 1-all daily double wheel bets the 1-horse in the first race with every horse in the second.

While many people love to watch horse racing, many also enjoy placing a bet. So good luck to all on your Kentucky Derby bets!