Betting on Horse Racing: Trifecta Bets

Implemented in 1971 at the now defunct Arlington Park, the trifecta was created and/or named as an offshoot of the perfecta, which is a wager where horses finish first and second in official race order. Despite Arlington Park now being the new site for the Chicago Bears, the facility was the first Thoroughbred racetrack in horse racing to host a $1M race a decade after the trifecta was introduced.

Clearly, the introduction of the wager five decades ago was successful. But why?

What is a Trifecta Bet?

Although greyhound racing is no longer popular, the trifecta bet remains popular for those that bet on horse racing. So, what is a trifecta? Pretty simple. It’s selecting the first three finishers in a horse racing event in the exact order. It is one of the most utilized wagers in horse racing because it can return a high yield for a low investment. For example, a $0.50 trifecta paid a hefty $491.18 at last year’s Kentucky Derby.

How to Place a Trifecta Bet

How to place a trifecta bet is as simple as the wager. Your selection of the horse you think will win, be second and come in third is the first component. Then you can place the wager at a horse racing track, or through online wagering accounts or through betting apps on horse racing on your smartphone.

And placing a trifecta bet does not need to be pricey. All tracks offer their own wagers, but many take a trifecta bet for $0.50 or $1. For a low investment on your part, you can receive a lucrative return.

Types of Trifecta Bets in Horse Racing

There are many ways to place a trifecta bet and many different combinations of this wager in horse racing. There is straight trifecta bet where a bettor selects the first three horses to finish in exact order or a wagerer can be a little creative and place a boxed trifecta bet. This is when the three horses the bettor selects can come in first, second, or third but not in exact order, as long as they hit the finish line on the board.

Straight Trifecta

A straight trifecta simply means the person placing a wager needs to select the first three horses to cross the finish line in order. This means the horse that would finish first, the horse that would come in second and the horse that would come home third. There can be no deviation from that order to have a winning ticket.

Trifecta Box Bet

A trifecta box bet in horse racing is when a bettor can select the first three horses to hit the board not in order. A trifecta box bet means selecting three or more horses to come in the top three positions. They do not have to be in exact order. For example, if a bettor wanted to choose the No. 3, No. 5 and No. 7 horses but are not sure who will win, place or show, they could place a wager on the trio. As long as the horses selected finished in the top three, the bet would be a winning ticket. Keep in mind a trifecta box bet is more expensive than a straight trifecta.

Trifecta Odds And How to Calculate Trifecta Payouts

A trifecta is one of the exotic wagers where a bettor can collect a lot of cash with a low investment. However, the wager increases in cost based on the number of horses selected. For instance, a boxed trifecta with five horses included in the wager has 60 possible ways to pay out and if betting a $1 trifecta box, would cost $60. 

Here is an example of how to attempt calculating trifecta payouts and the ways a trifecta bet may be wagered. 

Trifecta: (1,2,3), (1,2 +3), (1,3 + 2), (2,3+1), (1,3 +2), (4 + 1,2,3)

• 1 = How many horses are selected for the top spot
• 2 = Represents how many horses are chosen to finish second
• 3 = How many horses are picked for finish third 
• 1,2 = How many horses will come in first or second
• 1,3 = The number of horses that will come in first or third 
• 2,3= How many horses hit the finish line in second or third 
• 1,2,3 = What horses will come in first, second or third

Trifecta Wheel 

When it comes to the trifecta in horse racing, there is more latitude and longitude than just a straight wager like win, place or show. Experienced horseplayers often attempt to predict outcomes in a horse race by wagering through a trifecta wheel. This is when a bettor believes a favorite will not finish in the top three and feels another horse at longer odds may be the victor, but does not possess a strong opinion about the rest of the contenders. A trifecta wheel allows the bettor to place a horse on top (to win) and use the rest of the field underneath.

For instance, in an 8-horse field, a $1 trifecta wheel of the No. 2 horse with all other eight horses in the field to finish second or third would present 42 possible chances to win and would cost $42. A bettor can also wheel a horse in second or third with the rest of the field either finishing first, second or third.

Trifecta Key Bets 

When you “key” a horse in a trifecta bet in horse racing, it means a bettor selects an individual horse they firmly believe will win the horse racing event. Then the bettor will use other horses, possibly all of them in the field, to come in second and third.  A bettor can key a horse to come in another position, such as second or third, but typically a key trifecta bet would include a winner pick and then use other rivals in the field underneath.

A trifecta key boxed bet could be No. 1 in a field of seven to win and the No. 3 and No. 4 horses to follow No. 1 home. So, it would be 1/3/4 and the No. 3 or No. 4 horse could finish either first or second for a winning ticket.

Betting the Trifecta for the Kentucky Derby

When you have 20 horses in a field like the Kentucky Derby typically does, it supplies many options to place a trifecta key boxed bet, a straight trifecta bet, a trifecta box bet and a trifecta wheel bet. The event is a good race to wager on with any sort of trifecta because of the large field and high odds. If a bettor does happen to predict the order of finish in the Kentucky Derby they are certain to receive a big payout.

For example, Rich Strike capturing the 2022 Kentucky Derby with Epicenter coming in second and Zandon third netted $7,435.35 for a $0.50 trifecta regardless if it was straight, boxed, keyed or wheeled. That is a serious chunk of change for a minimal investment.

Trifecta Betting Strategies

When it comes to betting a trifecta in horse racing there are many options and paths to choose from. Most horseplayers would choose to key or wheel a trifecta because it provides more options for a larger payout. However, for those bettors just getting started it may be best to just box a trifecta until he or she or is more familiar with the horses, trainers, jockeys and racetrack surfaces. Also, the more horses you use in a trifecta, the higher the price of the ticket is so that is something else to keep in mind.

Do Your Homework

The trifecta bet in horse racing doesn’t have to be an enigma but it does require practice to succeed. Do your homework on the horses in each event. Examine pedigrees, past performances and recent workouts. Also, the trainer, jockey and post position for a horse do matter unless the horse is the class of the field.

Examine all options such as the trifecta box bet, the trifecta key bet and the trifecta wheel bet over a straight trifecta. Remember there are also expert handicappers from all racetracks that share their selections each day a horse racing event is contested.

Overview

The trifecta bet is one of the most popular in horse racing. It offers a high reward for some of the lowest risk and merely requires selecting the three horses that come in first, second or third. 

FAQs

What is a trifecta bet in horse racing?

When a bettor selects the horses that finish first, second or third in that order in a race.

What is a trifecta vs. an exacta?

An exacta is only when the first and second place finishers are selected, while a trifecta requires the top three.

What is the minimum bet on a trifecta?

It is typically $0.50 or $1.

How much can I win on a trifecta?

The payout depends on the odds of the horses that finish first, second and third.

Which pays more, a trifecta or superfecta?

There is really no difference in the payout because it depends on the odds of the horses that come in. But superfectas are more difficult to select and often more expensive.