Ben Cain has always enjoyed the buzz of the casino, completing his croupier training at a relatively young age. After a lengthy career working at casinos on various cruise ships, he traded a life on the sea for a life as an editor in 2018. Now, he’s using the knowledge he picked up as a croupier to provide the best casino & betting strategy tips around.
The pick 3 betting strategy involves betting on three consecutive horse races. One of the benefits of this strategy is that bookmakers won’t ban your account for using it.
As such, it means low investment and high profit if you get it right, without the risk of losing access to your chosen bookmaker. Today, you’ll have the ins and outs of pick 3 strategy explained to you.
Key Areas Covered in This Guide to the Pick 3 Strategy
The pick 3 strategy increases chances of big profit
Pick 3 horse bets are easy to understand
These wagers have low minimums
Per sportsbook rules, the prize pools don’t get carried over but divided among punters
Having pick 3 betting explained to you makes it easier to win
You may be wondering – what is a pick 3 in horse racing? Let’s start this pick 3 betting explained guide by saying that the pick 3 strategy is tough to get right.
You place bets on several variables, which decreases your chances of predicting the correct result. However, the winnings are worth the risk with this one, making it one of the most popular exotic wagers.
Why? Let’s start with the basics.
Pick 3 Betting Strategy How-To
When you make a pick 3 bet, you need to choose a winner of three races. Let’s take a look at the steps you take to place this bet.
Choose three races.
Select a horse to win each race (you can choose more than one per track – most bettors go for three a lap).
Make your wager – remember, you may wager much lower amounts on pick 3 bets than on more traditional types.
So far, so good. Here’s how to do it properly:
If you’re ready to invest a bit more, you may pick more horses for each race. That way, you have higher chances to cash in your ticket.
If you’re feeling super lucky, you can go for pick 4, 5, or 6 bets instead, further increasing your winnings.
If possible, bet on inevitable victors – the odds will be lower, but you’re still winning more if you make the correct predictions.
Remember, if nobody gets all three races in the row right, the operator will pay to those who choose 2 out of 3 correctly.
When you’re using a pick 3 strategy, most tracks and online operators offer a $1 minimum pick 3 wheel that’s affordable and allows you to tie up several horses without spending a fortune.
A pick 3 wheel worth $1 combines two horses for the first leg, and three horses for the second and third leg, representing 18 possible combinations and costing $18.
There’s an alternative of a straight pick 3, which includes only one horse per leg and most often goes by $2.
Profitable and Unprofitable Scenarios
In horse betting, you don’t need to answer questions such as – how do sportsbooks set lines – but you do need to understand how they decide on the odds for the favorites.
You earn the most considerable profit using a pick 3 betting strategy when you bet on weak favorites in the first two legs. Most bettors tend to bet on combinations that include favs in the first two legs.
Good payoffs also take place when two of the three races come with no heavy favorites.
Considering that the pick 3 betting strategy involves multiple bets, you may find yourself at a loss as to which horse to pick.
Many experienced punters have several tools on their belt to reduce the number of contenders to bet on using a pick 3 betting strategy.
In some instances, they single out a clear favorite and bet on them. While this may sound like an excellent idea (and often is), they sometimes make a mistake and blindly pick only favorites for all three bets.
In that case, the prize pool gets divided between more bettors, and your payoff lowers.
Instead, be a sharp bettor and add several non-favorites to the mix. You shouldn’t go overboard in any direction, but try to strike a balance and find value bets where you can. You can find value the best by examining statistics. Look at the following:
The previous performance of the horses
Quality of the jockey
The win percentage of favorites
Track surface and its influence
That way, you will increase the value of your bets and root out those that would only harm you.
For Beginners or Veterans?
Many veterans make the pick 3 betting strategy a part of their daily routine, which they sometimes spice up by adding more horses to the mix.
However, this wager is ideal for casual bettors and novices, as it allows you to invest minimally and still win a significant amount. Plus, this wager guarantees a payout to many punters.
As you can see from this pick 3 betting explained guide, this type of bet isn’t too complicated.
There are also variations, most prominently pick 4, pick 5, and pick 6 wagers, which offer close to astronomical payoffs. The pick 6 is the most luxurious on the menu, but the hardest to hit.
To mitigate your risks of a horse losing a race, as part of your pick 3 betting strategy, you could choose two or even three different horses from each race and combine them. That way, your bet costs much less while mitigating your potential losses.
If you’re feeling reasonably confident in your choices, you could take an alternative approach to the pick 3 strategy and increase your possibilities of winning.
The modification we’re suggesting would involve placing three separate bets rather than a single bet with three horses in each race.
You’d pick one horse for the first race and three for the second and the third. In the second bet, you’d go for three for the first race, one from the second, and three in the third.Finally, your third bet has three horses from the first and the second, and one in the third.
That way, your bets cost as much as three horses per race in a single bet. However, the chances increase that you made the right choice, as do also your possible winnings.
Gamblers tend to increase their level of risk to raise potential returns willingly. You may not be one of them – if you believe that your top picks will come through, placing separate bets may be a better choice. You’d risk losing all three wagers, though.
If this also seems too risky, choose three horses per race and rely on a broader range of combinations. Your possible payout is lower, but so are the risks.
Calculating Your Winnings
To determine how much you’ll win on a wager, take two things into account – the total win pool and the amount you staked.
The total pool contains all the money punters placed on all horses, not the amount paid out to those who got the outcome right. The operators first deduct the ‘take’ or the gambling winning tax, which differs from one state to another.
So, subtract the take from the total pool, and then deduct the amount placed on your horse. Typically, you’d then count in the odds and calculate your winning. However, multiple bets require multiplying, so it would be best that you use a pick 3 payout calculator.
For even larger wagers, you can also find pick 4 and 5 horse racing calculators to facilitate calculating winnings.
Lots More Ways to Improve Your Chances With These Guides
This pick 3 betting strategy guide should point you in the right direction.
However, don’t stop at having pick 3 betting explained to you! There are dozens of different strategies that can make for a profitable racing bout.
Conclusion – A Fun & Easy to Grasp Strategy to Increase Your Chances
Now that you’ve had pick 3 betting explained to you, you can see that the pick 3 betting strategy is famous for many reasons – it’s fun, easy to grasp, and offers potential for a significant profit. Plus, the pick 3 winning strategy can still go through even if you lose the first race!