Betting Stakes Explained

• Sports Betting Explained
• Betting Spreads Explained
• Betting Stakes Explained Against
• Betting Odds Explained 15/8
• Football Spread Betting Explained
• Parlay Betting Explained

Stakes races are considered the top level of competition for horse racing. They provide tougher competition for the horses that enter and reward the winners with larger sums of money. Mar 07, 2019 1.5. A one unit bet on Team A pays 2.3 units if Team A win the match. A one unit bet on Team B pays 1.5 units if Team B wins the match. You may have noticed that the implied probabilities add up to more than 100%. This is due to the bookmaker’s margin, which is explained in more detail below.

Ah, the Preakness Stakes -- one of the most celebrated and anticipated horse racing events of the year. This year -- one flipped upside down because of the coronavirus pandemic -- is no different.

Those who don't often participate in betting on the ponies may not understand all the excitement, but it's never too late to get in on the action. If you aren't exactly sure how it all works, don't you worry -- we're here to help you get up to speed. If you don't particularly understand the process or the terminology of betting (we know it can be a bit confusing), we've got you covered with a handy cheat sheet.

An important disclaimer, though: Knowing the terminology doesn't guarantee you success in your wagers. Sometimes, ignorance is bliss ... and profitable.

Sports Betting Explained

Anyway, here's a rundown of the terms you'll want to be familiar with:

BET TO WIN: Well, this one is pretty self-explanatory. You're betting on a horse to win the race.

BET TO PLACE: You're betting on a horse to finish either 1st or 2nd in the race.

BET TO SHOW: You're betting on a horse to finish either 1st, 2nd or 3rd in the race.

EXACTA: You're betting on both the 1st and 2nd place finishers in a race.

TRIFECTA: You're betting on the 1st, 2nd and 3rd place finishers in a race.

Betting Spreads Explained

SUPERFECTA: You're betting on the 1st, 2nd, 3rd, and 4th place finishers in a race.

DAILY DOUBLE: You're betting on the winners of two separate races.

Betting Stakes Explained Against

PICK 3: You're betting on the winners of three consecutive races.

Betting Odds Explained 15/8

Football Spread Betting Explained

PICK 4: You're betting on the winners of four consecutive races.

PICK 5: You're betting on the winners of five consecutive races.

PICK 6: You're betting on the winners of six consecutive races.

Parlay Betting Explained

Obviously, some of those are more challenging endeavors than others so, as is always the case with gambling, play the odds at your own peril.