Engaging in horse race betting isn’t easy. Although the payout could be promising, your knowledge and skills must be exceptional. The most common things that new bettors study are the types of bets, betting odds, and horse handicapping.
But, there is one more important thing that every horse race bettor, new or seasoned, must know: the carryover bet. Understanding this horse racing term will help you improve at wagering on horse racing events and might give you a chance to profit more.
Understanding Horse Racing Carryovers
Aside from the horse racing odds explained to you, as a bettor, you must also understand carryover. You will likely have encountered this term many times and wonder what it is.
A horse racing carryover only happens when no winner occurs during the original race schedule. All the bets on the race day will then be carried over to the next designated race. However, you need to keep in mind that not all types of bets are allowed to be carried over.
The types of bets that are eligible for a carryover are pick 4, 5, 6, or Pentafecta wagers. A carryover will continue happening on each race until there will be a unique winner holding the winning ticket with the right combination.
What makes this action exciting is that the number of bets will grow and could reach millions if uncollected. Imagine if you’ll be the lucky winner of a carryover bet for a long time, so you’ll be taking home a huge amount of money.
Familiarizing the Most Common Carryover Bets
It was mentioned earlier that not all bets can be carried over. Therefore, let’s discuss the different types of bets usually carried over to the next scheduled race.
Pick 4/5/6
The first bets that are carried over are the picks 4,5 and 6. This type of bet is when you pick a horse to finish first in four, five, or six consecutive races. Pick six is most likely to be carried over out of these three bets since predicting a first-place winner in six consecutive races can be challenging.
Pick 5/6
This type of carryover bet is similar to the pick 4,5 and 6 bets. The only difference in this betting type is that you must be the sole owner of the winning ticket with the right combination of all the 5 or 6 winners in a specific race to bring home the jackpot. This wager is called the Rainbow Pick-6, Single 6, or Empire 6.
Pentafecta
The last betting type you will see carried over is the pentafecta. Pentafecta, also known as Super High-5, is a type of bet requiring you to choose a top-five finisher of a single race in order.
This type of bet is a bit difficult to achieve, and the chance of you predicting the top five finishers of a race in order is low. Therefore, there’s a high chance that no one will win the pentafecta bet, so it’s likely to be carried over to the next race.
Pentafecta is still a popular betting type among punters, although it is not easy to accomplish as it offers a life-changing payout.
The Different Types of Carryovers
You already know how carryover works and what kind of bets can be carried over. Now, let’s discuss the different types of carryovers so that you can further understand this concept.
There are three types of carryover that you must know, which are:
Jackpot Carryover
The first type of carryover we will discuss is the jackpot carryover. In the jackpot carryover, only one ticket holder will have a chance to win the pool prize. If multiple bettors hold a winning ticket, a portion of the money will be automatically distributed by the racetrack to the following race. That portion of the pool money is considered to be forfeited.
Meanwhile, the rest of the jackpot money will be disbursed to all the winning ticket holders. Winning in this carryover is rare. That’s why the pool money is huge.
Rolling Carryover
The rolling carryover is similar to the jackpot carryover. However, this type of carryover is only available in more significant horse racing events that feature multiple races. The bet will be rolled over to the next race if no winner is declared. This act will continue until a winner is named.
Traditional Carryover
The last type of carryover is the traditional carryover. In this carryover, there will only need to be one winner. If multiple people win, the money won’t be disbursed. What will happen is the money will be carried over into the next race until there will be only one winner.
However, the non-unique winners will receive a consolation prize, such as a free ticket to the next race. The increasing amount of rolling money forces punters to choose a unique matchup.
To Sum It Up
You will encounter a carryover when betting on a horse racing event, especially if you’re betting on Pick 4,5,6, and pentafecta. Therefore, understanding how it works and knowing the different carryover types will help you improve your betting strategy.