Horse Racing Parlays
How to bet parlays in horse racing
A parlay in horse racing is a betting strategy where you bet on multiple horses across different races, but instead of placing separate bets, you reinvest your winnings from each successful bet into the next race.
Here's how the parlay works:
Rather than betting the same amount on each horse separately, you start with an initial bet on your first horse. If that horse wins, you take all your winnings and bet them on your second horse. This process continues for each horse in your parlay. The potential payoff grows significantly with each successful bet, as you're essentially multiplying your returns.
For example, betting $50 on five different horses at 2-1 odds separately would return $150 in total. However, if you parlay that same $50 through all five horses, you could potentially win over $12,000 if all horses win.
- The key advantages of parlays include:
- Flexibility to choose specific races you want to bet
- Ability to skip races you're unsure about
- Option to bet across multiple race daysHowever, parlays come with important considerations:
- Each bet faces separate takeout fees
- There's pressure to continue betting when sitting on significant winnings
- Large bets in later races might affect the odds in smaller betting poolsParlays offer the potential for substantial returns from a modest initial investment but require all selections to win for any payout.
Are there other ways to use the idea of a Parlay to bet horse racing?
Jump to: How to bet horses to Show
The Show Partial Parlay
The Show Partial Parlay is an innovative betting strategy that combines the stability of show bets with the growth potential of parlays. Unlike traditional parlays where bettors risk their entire bankroll on each bet, this method uses a more conservative approach by wagering only a portion of the bankroll each time.
Key Benefits:
- Higher probability of winning compared to other horse racing wagers
- Requires minimal initial bankroll (can start with as little as $20)
- Provides frequent betting opportunities (approximately half of all races)
- Helps maintain betting discipline by reducing impulse bets on exotic wagers
- Combines profitability with entertainment value
Implementation Strategy:
1. Start with a dedicated bankroll (recommended $100)
2. Keep funds separate using a cash voucher system
3. Betting guidelines:
- Avoid horses with odds below 4-1
- For horses at 4-1 to 8-1: bet 15-20% of bankroll
- For horses at 8-1 and higher: bet 10% of bankroll
- Typical $2 show payoffs range from $3 to $5
Horse Selection Criteria:
- Focus on horses likely to finish in the money (first, second, or third)
- Target non-favorites with good in-the-money records
- Consider pace match-ups based on race type:
* Fast races: Choose non-favorite best late runner
* Lone Early races: Select non-favorite best early runner
* Honest/Slow races: Pick either top early or late runner (non-favorite)
The strategy proved successful during testing, with examples of growing a $100 bankroll to over $1,000 in just four track visits. The key advantage is sustainability - even when losses occur, the bankroll remains substantial enough to continue betting, unlike traditional parlays where one loss eliminates the entire stake.
This method is particularly suitable for:
- Beginners with limited bankrolls
- Experienced bettors seeking a more consistent approach
- Players looking to maintain betting discipline
- Those who enjoy regular betting action while managing risk
The Show Partial Parlay combines the safety of show betting with the growth potential of parlays, offering a structured approach to building a bankroll while minimizing the risk of losing everything on a single race.
Show Parlay Advice
Show betting might seem like a safe way to bet on horses, since your horse can finish first, second, or third for you to win. However, making profitable show bets requires more strategy than just picking favorites. Here's what new bettors should know:
The Favorites Trap:
- While betting favorites to show wins about 70% of the time, it's usually unprofitable
- Example: Betting $20 across 10 races on favorites ($2 per race)
* Winning 7 races (70%) at $2.50 average payout = $17.50 return
* Result: $2.50 loss (-12.5% return on investment)
Smart Show Betting Strategy:
- Look beyond the top three betting choices
- Target horses with odds of 4-to-1 or higher
- Expect to win about 40% of your bets
- Aim for average payouts above $5.00 to be profitable
- Payouts typically range from $3 to $10, with occasional $20+ winners
When to Bet:
- Don't feel pressured to bet every race
- Experienced bettors typically play 3-5 races out of a 10-race card
- Two key requirements for placing a show bet:
1. The race should offer potential for good show payouts
2. You should have strong confidence in your horse's ability to finish in the top three
This more selective approach to show betting might result in fewer bets, but it helps protect your bankroll and increases your chances of making profitable wagers. Remember, successful betting isn't about quantity of bets, but quality of opportunities.
For beginners, the key takeaway is that while show betting appears safer than win betting, you still need to be selective and avoid the temptation of always betting favorites. Focus on finding value opportunities where the potential payout justifies the risk.
A Beginner's Guide to Selecting Show Bet Horses
The key to successful show betting is following a structured process to identify horses that can finish in the top three positions while offering good value. Here's a simplified approach for new handicappers:
Four-Step Selection Process:
- Identify the Public Favorites
- Note the top 3 betting favorites based on odds
- Add any horses getting heavy show pool betting
- These are your "top public horses"
- Look for Vulnerable Favorites
Check if any top public horses show weakness in these areas:- Class: Is the horse competing at too high a level?
- Speed: Has it shown competitive speed at similar distances?
- Form: Is it coming off a long break or poor performances?
- Race Record: Does it often finish out of the money?
- Pace: Will the race setup work against the horse?
- Assessment Pause
- If no top public horses seem vulnerable, consider passing the race
- Exception: A public choice at 4-1 or higher odds might be playable if it's not heavily bet in the show pool
- Make Your Selection
Look for horses that:- Aren't among the top public choices
- Can take advantage of the favorites' weaknesses
- Show good early speed or closing ability
- Match well with the expected race pace
- Key Points to Remember:
- Expect to win about 40% of your show bets
- Aim for payoffs averaging better than $5.00
- Only bet when you have strong confidence in your selection
- It's okay to pass races - quality opportunities matter more than quantity
- Develop and stick to a consistent evaluation process
This methodical approach helps new handicappers make more informed decisions and avoid common pitfalls like betting too many races or always playing favorites. Remember, successful handicapping is about finding value opportunities, not just picking winners.