[imagesource: Unsplash / Philippe Oursel]

Since its inception, the equestrian sport has always been associated with betting. It is odd to think of a single horse race without an opportunity to make some money. As a matter of fact, horse racing betting is one of the oldest types of sports wagering in the world. 

While fans enjoy horse racing because of its several unique features like its glamorous horses and exciting and fast-paced games, many people also love it for its large betting market. A top-notch sportsbook like bet way offers a wide variety of horse racing bets. 

If you are new to wagering on this sport, here are the different types of betting options available in horse racing. 

Single Bet

This is a very straightforward bet, otherwise known as a straight bet or win bet. It is the commonest type of horse racing bet. Here, money is staked on a single horse that is deemed fit for winning a race. If the horse you selected crosses the finish line first, you win the bet. You lose the bet if the horse finishes in any position other than first place.

Double Bet

The double bet involves two different events and two different selections. In this type of bet, bettors wager on two horses, one for each of the race. The bet is won if both horses selected win the race. This type of bet is quite risky, but it sure gives bettors a greater reward than wagering on a horse in a single race.

Trixie Bet

The Trixie bet is a bit more complicated. It is a type of bet for those that want a greater return. It involves the selection of three different horses running in different races. Four bets are placed in this type of bet, including three doubles and one treble. To get a payout, a minimum of two horses out of the horses selected must win the race.

Patent Bet

This type of bet involves making three different selections and placing seven other bets on these selections. The bet comprises three singles, three doubles and one treble. One of the selections must win to get a payout from the patent bet.

Yankee Bet

The Yankee bet involves four different selections and eleven bets. The wager comprises six doubles, four trebles and one fourfold accumulator. To get a payout in this type of bet, a minimum of two selections must win.

Lucky 15 Bet

This is a very common and well-liked type of horse bet. It is a type of bet that has many options and bet types within it. In this bet, four selections are made, followed by 15 bets. The wagers include four singles, six doubles, four trebles and one fourfold accumulator. Just one stake needs to win to get a payout with this bet. 

Canadian Bet

The Canadian bet is popularly known as Super Yankee. This stake involves five different horse selections from five other races. 

It features twenty-six bets, including ten singles, ten treble, five-four-fold accumulators and one five-folds accumulator. To get a payout, a minimum of two selections must win.