With horse racing events coming left and right, so do betting odds. For many fans, the race is just one way to enjoy the game – as the appeal of betting also increases one’s opportunity to win a little prize money.
You may encounter betting options like straight wagers or the three betting types: place, show, and win. You could even learn exotic or multiple exotic wagers if you want. However, what if there was a way for you to earn twice your wager? It may sound like a fantasy, but it’s true, especially if you’re trying on carryovers.
If you want to know what this type of wager is, continue reading for more:
A Carryover: Explained
Carryovers give you the chance of bagging twice the money you placed when no bettors win a specific wager in a racing event. Moreover, carryover bets are most popular with Pick 4, 5, and 6 wagers – with Pick 6 being the most common with its low success rate.
A Pick 6 wager is where one chooses the winners of the following six races. Since you’d have to get all six winners right, it’s a wager that’s difficult for you and everyone making the wager. However, this should be in your favor when no one bags the money as a carryover is bound to happen.
If no one has accurately predicted all six winners in a Pick 6 wager (or all four winners in a Pick 4 and all five winners in a Pick 5), the working committee will take a part of the money and carry it over to the next race on the following day. On the off chance there isn’t any winner on the following day, the pool is still carried over until the next race.
Furthermore, this process repeats over and over until a winner is determined. Even better, the potential for a carryover to exceed its expected return heightens race by race – unless a winner is ultimately selected. Due to this, carryovers have become popular as the jackpot can increase.
If you want to try carryovers, starting in small horse racing events is best. Doing so will let you experience these wagers for yourself. Once you have a grip and understanding of carryovers, you’ll be fully prepared for the big league carryovers in horse racing, like the Cheltenham Festival this March. Nonetheless, the more experience you have, the better you deal with these wagers.
Popular Carryover Bets
Carryovers aren’t only derived from Pick 4, Pick 5, and Pick six wagers since they could also be “carried” out from Pentafecta or Super Hi 5 Wagers. Unlike Pick 5, where you choose one winner for five races, Pentafecta needs you to choose five consecutive winners in one race.
Types of Carryovers
Since carryovers are made from multiple wagers, as mentioned above, they are divided into three types depending on those wagers: the traditional, jackpot, and rolling carryover.
Traditional Carryover
Traditional carryovers are reserved for one person only. If multiple people win, the prize won’t be handed out, and the winners would instead win a different reward, like a race ticket. Here, the carryover will continue until one person wins. Moreover, this wager keeps the money rolling, allowing people to test their skills.
In Los Alamitos, California, a traditional carryover went up to 423,178 dollars due to a fourth consecutive carryover from a Pick 6 race. With the potential for the pool to grow, who wouldn’t want a traditional carryover win for themselves?
Jackpot Carryover
You’d most likely be placed in a Jackpot carryover if you made a Pick 5, Pick 6, or even a Pentafecta bet. Although the chances of winning the jackpot are low, the money does work wonders – even more so since only one person can take it home. In fact, the Pimlico racetrack even had Jackpot carryover payouts that totaled almost 280,000 dollars, which came from a ten-race program.
If multiple people win the jackpot, the working committee allocates a portion of the money to the next race and the rest to all the winning tickets. So instead of winning the total amount, people will get a portion of the pool, mainly to keep fans’ interests high.
Rolling Carryover
A Rolling carryover is like a Jackpot, but it’s mainly reserved for significant events with multiple races in one day. If the race has a five-day course, the carryover will be “carried” onto the next day when no one wins. This continues until the last day of the event, and in the chance that no one wins, the closest winners get a portion of the pool.
Getting the Most Out of a Carryover
To claim that prize money, you need to understand that carryovers will attract attention. This entails that those with large sums of money will attract bettors, so it’s best to look for a strategy and win your way in.
You could always look at wagers that everyone is interested in. Doing so will create less tension and competition, giving you a higher chance of winning money. You could also consider how the money will grow. Would you want to place a wager or wait until the carryover payout reaches a bigger sum?
Final Thoughts
With this guide, you’ll want to try on carryover wagers as soon as possible – especially since you’ve got the essential information down. Furthermore, you’d get an opportunity to win twice the money with even little startup cash, so hop on the next racing event and get your wager on.