In Kentucky, waking up for a race day at Keeneland is comparable to waking up on your birthday or Christmas morning. You are filled with excitement and anxiousness as you start your day. These feelings continue to heighten as you drive in and find your spot to tailgate. With the tailgate popped open and a cold drink in your hand, you truly start to realize the magnificent spectacle Keeneland really is. Thousands and thousands of locals and tourists, young and old, dressed in their Sunday best, ready to take on a full day of horse racing. You really can’t beat this atmosphere! We go to Keeneland about twice a year, so in this post we are going to give you some horse betting basics to get you started.
Keeneland is host to races twice a year. The spring meet is in April, followed by the fall meet in October. It is really hard to choose a favorite between the two. Races are typically held from Wednesday through Sunday, with Saturdays being the most popular day for race fans. Tailgating starts early in the morning, but the races usually don’t start until about 1PM. Be prepared for several hours of entertainment.
Horse Betting at Keeneland Startup Guide
Whether you are warmed up from the Kentucky sun or all the delicious bourbon, it is time to make the walk from the tailgate to the racetrack. I typically like to bet on the first few races, so Angela and I usually make our way to the gate about 30 minutes before the first post. There is no rhyme or reason to betting the first few races, but I just like to get the adrenaline flowing early on in the day.
One of the first things you need to do is purchase a race program for $2. This will be your guide to the races for the day. The programs are full of information on the horses, jockeys, owners, etc. You will find lots of useful information here, even if you are a seasoned horse bettor. At the very least, you now have a souvenir from your day at the races. Horse betting for the first time can be intimidating, but I promise that it is easier than you think. Just remember, always gamble responsibly!
Types of Bets
The first thing you need to do is understand the different types of bets that you can make and how to win each one. We are going to go through the basic bets you can place, in addition so some more advanced bets if you are feeling adventurous.
Basic Bets
There are three main basic bets, also known as “straight” bets:
- WIN: You pick a single horse to finish first – lower odds of winning this bet, but higher payouts.
- PLACE: You pick a single horse to finish in first OR second place.
- SHOW: You pick a single horse to finish in first OR Second OR third place – higher odds of winning this bet, but lower payouts.
While staying in the realm of basic bets, you can also bet ACROSS THE BOARD – which is actually 3 separate bets rolled into one. For example, if you are doing $2 bets, an across the board bet is $2 on the horse to WIN, $2 on the horse to PLACE, and $2 on the horse to SHOW. This ticket would run you $6 total. If your horse wins the race, you win all 3 bets. Good work! If your horse comes in second, you lose the WIN bet, but you win the last two bets. If your horse comes in third, you lose the WIN and PLACE bets, but win the SHOW bet. Finally, if your horse comes in fourth, it might be time for another bourbon!
Exotics
For most beginners and casual gamblers, these are the only bets you really need to understand. However, if you want to take things up a notch, there are additional, more complicated bets called EXOTICS:
- EXACTA – You pick two horses to come in first and second, in that exact order. In other terms, you pick horse A to win and horse B to place. This is a single bet.
- EXACTA BOX – This is the same as the exacta above, except the two horses you picked can finish in either order, as long as they both finish in the top 2. Again, this is actually 2 bets rolled into one. If you are using $2 bets, you would basically be betting $2 that horse A comes in first and horse B comes in second AND $2 that horse B comes in first and horse A comes in second. This makes for a $4 bet.
- TRIFECTA – You pick three horses to come in first, second, and third, in that exact order. Just like the exacta, but one extra horse. The trifecta is also a single bet.
- TRIFECTA BOX – You pick three horses to finish in the top 3 in any order, which is 6 bets rolled into one. If you are using $2 bets, you’re looking at a $12 total bet.
- SUPERFECTA – You pick four horses to finish in the top 4 in any order.
Believe it or not, there are even more complicated bets you can make. However, I would definitely stick to the basics for your first few trips to the track.
Understanding the Odds of Horse Betting
A big mistake new bettors make is thinking that odds means the chance the horse will win. Odds are actually the payout you will receive if you make a winning bet on that horse. When betting on horses, you are actually betting against the public too. So, odds will change when more money comes in on certain horses. If a lot of people are betting on the same horse to win, the payout will decrease. The favorite is the horse that the most money is on to win the race. Remember, the smaller the odds, the smaller the payout.
“Tips” for Choosing a Winner
Ok, let’s be honest. If I knew how to pick winners, we’d probably be retired and living in Kentucky by now. There is no right or wrong way to pick your winners. Some people read the programs for stats on the horse or jockey while others take a wild guess. That said, here are a few things we’ve heard while waiting in line or sitting in the grandstand:
- “If there is a gray horse in the race, always bet that one to win.”
- “My dad, who is really good at horse betting, always told me to pick the horse with the second best odds to win.”
- “The favorite only wins 33% of the time.”
- “90% of the winners have jockeys in the top 10 of the jockey standings.”
- “That horse just peed which means he’s lighter and will run faster.”
- “Hey look! There is a horse named Michigan Miss. We’re from Michigan. We should bet on her.”
The last quote was actually Angela’s quote and Michigan Miss won Angela enough to buy us a nice dinner that night!
Whatever your reason to choose a winner, we wish you luck!
Bankroll Management
Your bankroll is the amount of money you bring with you to bet on the races. You should really only bring money that you are willing to lose. Always, always, always gamble responsibly! While I do love sports betting, I am far from an expert on horse racing. I typically bring $100 in cash to bet, while Angela only brings $50. Again, only bring what you are comfortable spending. You don’t have to bet on every single race. Just pick and choose which ones you want and you might get lucky!
How to Place a Bet
There are actually fours different ways to place a bet at Keeneland. We will go through these four options and remember – once you place a bet, don’t lose that ticket!
Bet With Your Friends
Sometimes Angela and I each just pick a horse and the one that finishes better has to buy dinner. You can even bet with no stakes, but there’s no fun in that!
Bet At The Electronic Kiosks
If you are intimidated by betting for the first time, this is a good option. You will be able to find kiosks near most seating areas, and they are hard to miss. You simply walk up to one, put your money in, and follow the instructions on the screen. It helps to know what you want to bet on before you get up there, especially if there is a line behind you.
Bet In-Person At The Window
This is the original, old school way of betting. You walk right up to the betting window and place your bet with the ticket writer. You will need to tell them these 5 things in order:
- Name of the track: in this case, Keeneland
- The race number: if this is the 4th race of the day, you tell them “4th race”
- The amount you want to bet: $2 is a good start
- The type of bet: review the types of bets above
- The number of the horse(s) you want to bet on
For example, you say “Keeneland. 4th race. $2 WIN bet on #12”. They will then print your ticket and hand it to you.
Bet Online
This is actually a great option if betting lines are long or you don’t feel like leaving your seat. There are many great options for placing bets online through a website or app. For instance, Keeneland even has their own app for doing this – check it out!
And they’re off!
Now that your bets are in, it’s time to sit back, relax, and enjoy the ponies! If you win, remember to cash in your ticket before heading home. Win or lose, you are going to have a good time. Who knows, you might walk away a winner. Here’s to you getting lucky in Kentucky!