Legal Sports Gambling In New York
Exotic Bets at the Horse Track
When it comes to legal sports gambling in New York, there are limited options in which you can participate and still be sure that you will not end up in court. Laws prohibiting sports gambling are very strict and apply to most sports, because of a belief in the United States that sporting events are pure and that gambling will lead not only to all of the social ills attributed to it but in the case of sports also to the corruption of the game.
Still, there are laws that allow some types of sports gambling in New York. One category is pari-mutuel betting, which includes the sport of horse racing. Although not long ago horse racing was prohibited by law in all but two states, under the pari-mutuel system it sports bettors can once again bet on equines on track (or in off track betting parlors in New York) without fear of breaking the law.
There are several types of bets involved in horse racing, and the varied action is part of what gives gambling on the sport its appeal. Win, show, and place are categories that apply to all types of races. There is a whole different group of categories know as “exotic” bets. These bets typically involve much more calculated wagers, rarer payoffs, and therefore larger payouts (sometimes!).
Exacta
Exacta bets are also known as “perfecta” bets. The winning gambler on this type of legal sports gambling in New York opportunity picks both the first and second place finisher, in the order in which they finish.
Quinella
Quinella bets are a bit easier to win on than exacta bets. In order to win a quinella, a gambler still makes two picks on a race to pick first and second. Unlike perfecta, though, quinella finishers can win either first or second (as long as both horses place in the top two) and the bet is still won.
Trifecta
Trifecta bets are difficult, since gambling here involves picking the horses that will win first, second, and third in a race in their exact order. These legal bets are sometimes also called “triples”.
Daily Double
Daily doubles are one of the most popular type of bets among racetrack gamblers. In order to win this bet, a person must pick two horses to win in two different races. These races are designated at the totals board, are usually subsequent, and are usually the first two races of the day.
Pick Six
The most difficult exotic gambling bets in equine sports gambling are pick six gambling opportunities. In order to win, a gambler must pick the winners of six designated races. As you might guess, an accurate field is rare, and pick six pots are carried over to the next racing day, although there is usually a payout for the person who picks the next closest number.
It might seem as though the opportunity to win more money is always there with exotic bets. However, those who choose to indulge in the form of legal sports gambling in New York need to keep in mind the take off the top by the house. If another gambler picks the same combinations, the pot is decreased dramatically and everyone might in fact lose money even though their bets were winners. Such is the irony of the legal pari-mutuel system. Want to start an office pool? See our article on 'organizing an office fantasy pool'.
