How to: Place a bet - Part 2

Otherwise known as ‘hedging your bet’, this is a combination of a win and a place bet. If your horse wins, you walk away with both the win and place dividend, and if your horse comes second or third, you will collect the place dividend

Asking for a $1 each way bet will cost you a total of $2 and means you have placed $1 for a win and $1 for a place

Feeling lucky? Just pick two horses to come first or second in any order and you will receive the quinella dividend. You won’t know what the quinella will pay until the race is run, as it depends on the odds of the two horses. You can also pick more than two horses for a quinella bet (it will just cost a little more)

Pick three horses in the order you think they will finish (for 1st, 2nd and 3rd place) and you will receive this dividend. It’s risky but if successful, you are set to make a good return

Costs a bit more than a trifecta, but could be easier to win – just pick three horses and if they are the first three place getters (in any order) you’re a winner

You can always pick more than three horses, it will just cost you a little more

With percentage betting, you pay a percentage of the price it costs to place a trifecta, in return for collecting a percentage of the winnings

The minimum percentage bet you can place is $5 and the minimum bet value of each combination is five cents

If you’re having trouble deciding which horses to pick, this is the bet for you. The tote operator will issue you with a ticket after the computer has decided which horse to pick for you.