How to bet the 2019 Preakness: Betting terms, payouts, picks for beginners

The 2019 Preakness is quickly approaching, and you need to know how to bet on horse racing. Well, you're in luck. This beginner's gambling guide to horse racing covers the basics of placing a bet on a race for those who don't know the difference between an exacta and a daily double, or a trifecta and a Pick 3. You'll start by learning the definitions of Horse Racing terms such as win, place and show and then graduate to box, key and across the board. You'll even learn how to communicate your bet with the clerk at the mutuel window like a pro. By the end of this horse racing glossary, you'll have everything you need to know about gambling on horse racing. Once you're up to speed, you can see what picks and bets that SportsLine's expert handicappers are making on the big race.

TRADITIONAL BETS

Win
A bet on a horse to finish first in a race. The bettor wins only if the horse finishes first. How to make this bet: "Pimlico, Race 7, $2 to win on 5."

Place
A bet on a horse to finish second in a race. The bettor wins if the horse finishes first or second. How to make this bet: "Pimlico, Race 7, $2 to place on 5."

Show
A bet on a horse to finish third in a race. The bettor wins if the horse finishes first, second or third. How to make this bet: "Pimlico, Race 7, $2 to show on 5."

Across the board
Three equal win, place and show bets on a horse in a race, hence this bet also is known as Win Place Show. A $2 bet across the board would cost $6. If the bettor's horse finishes first, the bettor wins win, place and show money. If the bettor's horse finishes second, the bettor wins place and show money. If the bettor's horse finishes third, the bettor wins show money. How to make this bet: "Pimlico, Race 7, $2 across the board on 5."

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MULTIHORSE BETS

Exacta
Pick the top two finishers in a race in the exact order. The bettor wins only if the horses finish first and second in the exact order. How to make this bet: "Pimlico, Race 7, $2 exacta, 5 over 8." (The 5 horse has to win, and the 8 has to finish second for the bettor to win.)

Exacta box
Pick the top two finishers in a race in any order. The bettor wins if the horses finish first and second in any order. The bettor can include more than two horses in an exacta box. A $2 exacta box would cost $4 using two horses, $12 using three horses and $24 using four horses. How to make this bet: "Pimlico, Race 7, $2 exacta box, 5-8-9." (The top two finishers have to come from the 5, 8 or 9 in order for the bettor to win.)

Exacta key
An exacta bet using one horse (the "key") to finish first in a race with multiple horses in second. How to make this bet: "Churchill Downs, Race 7, $2 exacta, 5 over 8-9." (The 5 has to win, and either the 8 or 9 has to finish second for the bettor to win.)
A bettor can also key a horse finishing second with multiple horses in first. How to make this bet: "Pimlico, Race 7, $2 exacta, 8-9 over 5." (Either the 8 or 9 horse has to win, and the 5 has to finish second for the bettor to win.)

Trifecta
Pick the top three finishers in a race in the exact order. The bettor wins only if the horses finish first, second and third in the exact order. How to make this bet: "Pimlico, Race 7, $2 trifecta, 5 over 8 over 9." (The 5 has to win, the 8 has to finish second and the 9 has to finish third for the bettor to win.)

Trifecta box
Pick the top three finishers in a race in any order. The bettor wins if the horses finish first, second and third in any order. The bettor can include more than three horses in a trifecta box. A $2 trifecta box would cost $12 using three horses, $48 using four horses and $120 using five horses. How to make this bet: "Pimlico, Race 7, $2 trifecta box, 5-8-9-11." (The top three finishers have to come from the 5, 8, 9 or 11 in order for the bettor to win.)

Trifecta key
A trifecta bet using one horse (the "key") to finish first in a race with multiple horses finishing second and third. How to make this bet: "Pimlico, Race 7, $2 trifecta, 5 over 8-9-11 over 8-9-11." (The 5 has to win, and the 8, 9 or 11 have to finish second and third in any order for the bettor to win.)
A bettor can also key a horse to finish second or third.

Superfecta
Pick the top four finishers in a race in the exact order. The bettor wins only if the horses finish first, second, third and fourth in the exact order. How to make this bet: "Pimlico, Race 7, $2 trifecta, 5 over 8 over 9 over 11." (The 5 has to win, the 8 has to finish second, the 9 has to finish third and the 11 has to finish fourth for the bettor to win.)

Superfecta box
Pick the top four finishers in a race in any order of finish. The bettor wins if the horses finish first, second, third and fourth in any order. The bettor can include more than four horses in a superfecta box though the cost can be prohibitive. A $2 superfecta box would cost $48 using four horses, $240 using five horses and $720 using six horses. How to make this bet: "Pimlico, Race 7, $2 superfecta box, 5-8-9-11." (The top four finishers have to come from the 5, 8, 9 and 11 in order for the bettor to win.)

Superfecta key
A superfecta bet using one horse (the "key") to finish first in a race with multiple horses finishing second, third and fourth. How to make this bet: "Pimlico, Race 7, $2 superfecta, 5 over 8-9-11 over 8-9-11 over 8-9-11." (The 5 has to win, and the 8, 9 and 11 have to finish second, third and fourth in any order for the bettor to win.)
A bettor can also key a horse to finish second, third or fourth.

MULTIRACE BETS

Daily double (or double)
A bet selecting the winners of two consecutive races. How to make this bet: "Pimlico, Race 6, $2 double, 4-7 with 6." (The 4 or 7 has to win Race 6, and the 6 has to win Race 7 for the bettor to win.)
For the Kentucky Oaks and Kentucky Derby every year, Churchill Downs offers a special Oaks-Derby double.

Pick 3
A bet selecting the winners of three consecutive races. How to make this bet: "Pimlico, Race 6, $2 Pick 3, 4-7 with 6 with 2-8." (The 4 or 7 has to win Race 6, the 6 has to win Race 7 and the 2 or 8 has to win Race 8 for the bettor to win.)

Pick 4
A bet selecting the winners of four consecutive races. How to make this bet: "Pimlico, Race 6, $2 Pick 4, 4-7 with 6 with 2-8 with 1-3-5." (The 4 or 7 has to win Race 6, the 6 has to win Race 7, the 2 or 8 has to win Race 8 and the 1, 3 or 5 has to win Race 9 for the bettor to win.)

Pick 5
A bet selecting the winners of five consecutive races. How to make this bet: "Pimlico, Race 6, $2 Pick 5, 4-7 with 6 with 2-8 with 1-3-5 with 7-10." (The 4 or 7 has to win Race 6, the 6 has to win Race 7, the 2 or 8 has to win Race 8, the 1, 3 or 5 has to win Race 9 and the 7 or 10 has to win Race 10 for the bettor to win.)

Pick 6
A bet selecting the winners of six consecutive races. How to make this bet: "Pimlico, Race 6, $2 Pick 6, 4-7 with 6 with 2-8 with 1-3-5 with 7-10 with 2-6." (The 4 or 7 has to win Race 6, the 6 has to win Race 7, the 2 or 8 has to win Race 8, the 1, 3 or 5 has to win Race 9, the 7 or 10 has to win Race 10 and the 2 or 6 has to win Race 11 for the bettor to win.)