Getting a Handle on Trifecta Betting in Horse Racing

There are millions of people worldwide who enjoy betting on the ponies. They do it at the track, at off-track betting sites in their hometowns, and these days, they even do it online. Trifecta betting is just one of many different ways to place a stake, and while it isn't the most popular, it can certainly be one of the most profitable.

The reason why this particular wager is so unpopular is because the odds of winning are incredibly slim. In fact, the name "trifecta" refers to the number three, and this will help you remember that you have to choose three horses that you believe will take the win, place and show. In order to win anything at all, your picks must finish in that exact order. There's another option, though, that is known as the "key". Here, you are still required to pick the winner, but you can pick as many as four contenders that could end up in second and third place.

No matter how good at this sort of thing you believe you are, everyone has issues with trifecta betting. In some cases, picking the winner might seem like a snap. Even picking the place horse might come easy. However, there is always the possibility that the least favorite contender of all could have a really good day and work his way up into that third place position. This is why the "key" option is often favored. You won't win quite as much, but your odds are much better.

The best strategy, then, is to go ahead and make your first pick, or even the first two if you feel confident, but leave some leeway when it comes to the third. Even then, and especially if you are new to horse racing, you might just discover that some of the underdogs can really come back and surprise you. What's more, there are plenty of other wagering options out there that you can consider that carry with them smaller payouts but much better odds. It's often a good idea to stick with these until you feel confident in your abilities.