Track Wagering
One of the most widespread forms of legal wagring gambling involves betting on horse or greyhound racing. Wagering may take place through parimutuel pools, or bookmakers may take bets personally. Parimutuel wagers pay off at prices determined by support in the wagering pools, while bookmakers pay off either at the odds offered at the time of accepting the bet; or at the median odds offered by track bookmakers at the time the race started
Straight or Basic Wagers
There are a number of different wagers you can choose when wagering at the track. These entire variations stem from one core premise: Bettors receive payouts based on the first, second and third place finishers. Or, in racing terms, they are based on Win, Place and Show.
Across The Board
You are wagering on a horse to Win, Place and Show. You receive one ticket for all three wagers. If your horse wins, you receive Win, Place and Show payouts. If your horse finishes second, you receive Place and Show payouts; and if your horse is third, you receive the Show payout. Because you are actually placing three wagers, the minimum wager is $6.
Daily Double
To win, you must select the winners of two designated, consecutive races by placing the wager before the first of the two races.
Exacta
You win by selecting the first two finishers, in exact order, in a designated race.
How to Place a Wager
Here's how to place your wager at the mutuel window:State the race number and the track where the race is being run
State the amount you wish to wager.
State the type of wager you wish to make.
State your choice or the program number of the horse(s) on which you want to wager.
For Example: "Louisiana Downs, fifth race, five dollars to win, on number 2."
Always make sure to check your tickets for accuracy before leaving the mutuel window, and be sure to hold on to your tickets until the race is declared "official" to ensure that you won't throw away or tear up a winning ticket. You may also choose to place your wager using one of the automated self-service machines located throughout the facility. Ask a representative for assistance.
How to Collect Your Winnings
If you have made a winning wager, take it to any mutuel window after the race is declared official to collect your winnings. You may take full amount in payment or wager back all or part of it on upcoming races.
If you are unsure whether you have a winning ticket, do not hesitate to have it checked at any window. Also, try to avoid cashing winning tickets within five minutes prior to a race, especially if you do not plan to wager on that race. Many people prefer to wait until the last few minutes before a race to place their wagers, and cashing in during that time can slow the process. There is ample time between each race to cash your winning tickets.