Horse Racing Betting Types – Pick 3 and Pick 4
On a PICK 3 bet you select the winning horse in three consecutive races. This is usually offered on the first and last 3 races of the day, although some tracks may offer this bet on any three consecutive races.
A PICK 4 wager is exactly the same as a Pick 3 except you have to select the winner of four consecutive races.
Types of Horse Racing Bets
Pick 3 and Pick 4 Part Wheel
The pick 3 or 4 part wheel bet is favorite play at the track. It allows you to single your favorite horses in some races and combining them with several good paying horses in other races in an attempt to hit a good paying win ticket. There is generally good value in the pick 3 or 4 bet, and frequently they will pay considerably more than the comparable amount of money bet in a 3 or 4 race parlay.
To increase the probability of winning a pick 3 or 4you may want to play multiple combinations by selecting more than one horse in one or more of the three races. The easiest way to communicate this bet to the clerk is to use the pick 3 part wheel bet. If you think the #3 horse will win the first race of the pick 3 and either the (#1, #5 or #7) horse will win the second race, and the (#2, #5, #8, #10, or #12) horse will win the third race, you would tell the clerk ($2 Pick 3 Part Wheel 3 with 1, 5, 7 with 2, 5, 8, 10, 12). The cost of this bet would be (1 x 3 x 5 x $2) = $30 for your $2 bet. You can bet any amount from $1 on up. Remember, that if you bet a $1 bet, you only collect 1/2 of the payoff amount since most bets are quoted for a $2 bet.
PK3 and PK4 Grading and Payout Rules
All PK3 and PK4 tickets are paid out based on the official race results as published by the host track at which the race was run.
If there is a scratched horse in any PK3 or PK4 selection wagers will be refunded.
No consolation payouts as we do not recognize any 3 out of 4 special Pick 4 track payouts.
Pick 3’s and 4’s Strategy
PK3’s AND PK4’S are the wagers that are fun and also take a while before you find out whether you win or lose since these races consist of more than one race. Unless you get knocked out in the first leg, then it is not much fun.
You may add as many horses in each race as you think is needed to win your wager. Remember, the more horses, the more expensive the bet. Some wagers will cost more then the actual payout. What do you mean? If all the favorite horses happen to win the payout will be small. Meaning if you took 5 horses in first leg, 2 horses in the second leg, and 5 horses in the third leg. This ticket would cost $50.00 for a $1.00 ticket. The payoff for a $1.00 Win 3 could be $18.00 you end up winning, but lose $32.00.
Pick 3. Make a pick 3 bet on horse racing by picking the winning race horse of 3 consecutive races.
Daily Double + Pick 3
There are many opportunities in exotic horse racing betting, far more than all straight win, place and show bets. Generally speaking, the payoffs in exotic bets, like the Daily Double and Pick 3, are more lucrative. But of course horse racing betting is a pari-mutuel form of gambling, and the odds always vary by how many bettors choose to make the same wager.
Daily Double and Pick 3 bets are closely related to a straight Win wager in horse racing betting, but by factoring in more than one race, the payout on such bets are multiplied. We’ll describe in detail the specifics of Daily Double and Pick 3 horse racing betting.
Note that the minimum wager at the track is usually $2, so we’ll be using $2 base bets in all examples.
Daily Double Horse Racing Betting
The “Daily Double” is an exotic horse racing bet that requires the bettor to pick the winning horses in two consecutive races. The Daily Double is often held on the first two races of the day, and usually on the last two races as well, called the Late Daily Double. Some horse racing tracks will offer what is called a Rolling Daily Double, where the bettor can choose any two consecutive races throughout the day.
A popular form of Daily Double horse racing betting is to bet on a wheel. The Daily Double Wheel allows the bettor to choose a key horse in one of the two races, betting all possible combinations on the other race. The price of the bet is determined by the number of horses in the other race.
For example, you think horse number #6 is destined to win the first race, but you aren’t sure about the second. If there are 8 horses in the second race, a $2 Daily Double Wheel would cost $16. The bet slip would read “$2 Daily Double Wheel 6-All – $16”. It is a bet on horse 3 to win the first race, and any other horse to win the second race (3-1, 3-2, 3-3, 3-4, 3-5, 3-6, 3-7, 3-8).
Pick 3 Horse Racing Betting
The Pick 3 bet is the same as the Daily Double, but includes three consecutive races. Pick 3 horse racing bets are only allowed on designated successive races. Most tracks do present Rolling Pick 3 bets, allowing you to select the three consecutive races of your choice.
All three chosen horses must finish in first place in order to win the bet. If two chosen horses win, but the other does not, the entire bet is lost. There is only one exception to this rule, and that is if one of your picks gets scratched from a race. If the horse does not compete, you are automatically given the “post time favorite” (favored horse to win at time of posting). This will of course affect the payout as well.
Along with Pick 3 horse racing betting, there are also Pick 4, Pick 5 and Pick 6 betting options. The premise is the same, but you must choose the winning horses for 4, 5 or 6 consecutive races respectively.
This guide explains Daily Double and Pick 3 horse racing betting and how you can use them to win money betting on horse racing.