Horse Racing Bet Types

Wagering on a horse racing has been a part of people’s lives from time immemorial but surprisingly enough, there is huge fraction of punters who still do not bet on horses because they think it is complicated. However, betting on horse racing isn’t at all complicated but it is just the same as betting on soccer or any other sport you might think of. What makes people shun away from horse racing betting is the fact that they do not understand the basics of what each bet is called and what it involves and this article is aimed at explaining the bet types in horse racing.
Win
This is one of the most popular bets where you are required to simply bet on a horse to win the race.
Place
The place bet type requires the punter to select a runner to finish either 1st, 2nd or 3rd in the official placings. It is important to note that number of horses which qualify for place payouts depends on the number of runners in a particular race:
Five runners or less: No Place Betting
Six to seven runners: First, Second
Eight to 15 runners: First, Second, Third
16 or more runners: First, Second, Third, Fourth

Show
The horse chosen by the punter must finish first, second or third.  
Eachway
This is a bet type which consists of two separate bets by combining a Win and Place bet. What this means is that for a punter to get a Win payout, the selection must finish first and for the punter to get a Place payout, the selection must either win or finish in one of the predetermined places for the event.
All to Come
The All to Come is a type of an accumulator bet which enables you to bet on the Win or Place bet type on horses in different races at the same race meeting, and all this will be combined into one bet. 
Quartet
This is quite a difficult but rewarding bet where a punter will bet on the horses which will finish first, second, third and fourth, in that exact order.
Pick 3
A punter must select the winners of any 3 consecutive races. Please note that one or more horses can be chosen in each of the three races.
Pick 6
A punter must select the winners of all six races that constitute the pick 6, which are referred to as legs 1 to 6.
Swinger
A very popular bet where you are required to pick two horses in a race and couple them in a swinger. Please note that both have to finish in the first 3.
Exacta
This is a bet type where you have to select two horses in a single race to finish in the first two places in their exact order where your first selection must come first and your second horse must come second.
Double
A punter is required to place a single bet on two outcomes in different events. Please note that both selections must win to guarantee a return.
Trifecta
This is a popular bet where the horses a punter is backing have to finish in the first, Second and Third positions in that exact order.
Bipot
The punter has to choose either a horse or more horses to finish first or second in each of the six races of the bipot, which are referred to as legs 1 to 6. 
Place Accumulator
You can choose a horse, or horses to finish in the First, Second and Third positions in each of the 7 races that comprise the Place Accumulator (Legs 1 to 7). You can win the bet many times. For Example; You choose one horse in each of Legs 1 to 4 and two horses in each of Legs 5, 6 and 7. If all choices finish in the first 3, payout is won eight times.

Jackpot
A punter has to select the winners of all four races that constitute the jackpot, which are referred to as legs 1 to 4.