A Beginner’s FAQs when Betting at the Belmont Stakes

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Are you curious about how start to betting at the Belmont Stakes? You can grab your derby hat and saddle up now. We’ve got your back. Here are the answers of some of the frequently asked questions by many beginners when betting at the Belmont Stakes.

Placing a wager

In the racetrack, there are live teller wagering windows. In placing a wager at the window, make sure to state the name of the track, race number, amount of the bet, type of bet, as well as the number of the horse. For example, “Belmont, 7th race, $5 for a Win bet.”

What’s more, there are self-service terminals that can provide you do-it-yourself wagering privacy. It’s so easy to use. You just need to insert your betting voucher, mutuel ticket, and your cash or card, then you’re done.

There are voucher selling windows where you can purchase vouchers and cash cards as well. If you don’t have any account and you want to bet Belmont Stakes online, you can just quickly sign up at respective websites of the wagering sites or visit their guest services locations in the racetrack.

Minimum Bet Wagers

These are bet wagers starting from the lowest minimum price. Superfecta has the minimum bet cost for $0.10 only. For only $0.50, you can make bets for Trifecta, Pick 4 and Pick 5. You can already play Win, Place Show; Exacta, Daily Double, Quinella, Pick 3 and Grand Slam for only one dollar, while a minimum of 2 bucks for Pick 6. Generally, a few people often wage for five or ten dollars bets.

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Determining the Odds

A track handicapper sets the odds that he/she believes the horse will be at post time, also called as morning line. These odds change continuously until post time and are determined by the money wagered on each horse.

Typically, odds do fluctuate after the race starts so don’t get surprised. This happens because of the volume of last-minute wagering at simulcast sites nationwide and its totalisator system that calculate final odds.

About Pick Four, Pick Five, Pick Six and Grand Slam

A bettor receives the post time favorite in the event of a late scratch for For Pick Four, Pick Five, Pick Six and Grand Slam. There are no refunds or alternate selections, however, all bets will be refunded if there are three or more “no contest” legs or cancelled in either of the Pick Four, Pick Five, and/or Pick Six pools.

When calculating Pick Four, there is a necessary daily payout of the entire pool. In Pick Five, there will be no tickets with five winners during the event. In the next day of the meet, there will be a 100% carryover of the net pool.

In the Pick Six, there will be no tickets with six winners in the event. In the next day of the meet, there will be a 75% carryover of the net pool. The outstanding 25% of the net pool will be given as a consolation payout.

Cancellations

There are neither adjustments nor cancellation that could be made once the race begins. With a limit not to exceed $50, non-account wagers can cancel at self-service terminals only.

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With a limit not to exceed $50 on any one sole combination for all exotic wagers and/or $500 on win, place, show wagers; those who placed with cash cards can cancel their wagers at self-service terminals only.

Uncashed Tickets

Any pari-mutuel tickets with a value of $300 or more and are not yet cashed within 10 days of purchase must be retrieved at IRS-designated windows. The sponsor then must give personal details including his/her name, date of birth, home address and social security number.

Please note that the sponsor’s information will not be reported to the IRS unless the amount of money on your ticket is 300-1 or higher, and more than $600. This applies the same when applying tickets that are cashed by mail.

Takeaway

When buying tickets, always double check them before leaving the window or self-service terminal. Most of the time, the association would not be accounted as responsible for those ticket sales that aren’t completed before the machines locked.

After the race becomes official, you will find out if you win when you check the television monitors or tote board. What you may win depends on your horse’s odds, how much you wager, and the type of bet you chose.

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