Pick 5 Horse Racing Bets: Maximize Your Payouts

Just like other Pick Horse Racing Bets, a Pick 5 bet relies on picking the winners of five consecutive races. The bet works like a mini parlay, meaning that each bet’s winning feeds the next, making it one of the more challenging bets in horse racing. Getting all five winners right isn’t easy, but if you manage to nail them, you’re in for a big payout!

Let’s say you want to place a Pick 5 bet on five consecutive races and these are the race cards for each one of them:

Race Card for Race 1:

Race Card for Race 2:

Race Card for Race 3:

Race Card for Race 4:

Race Card for Race 5:

We have to keep in mind that the payout for a Pick 5 is based on the pari-mutuel system, meaning the total pool of money bet on the Pick 5 is divided among the winners. If you’re the only one who actually picked all five winners, you’ll take home the entire pool minus any track takeout (fees). Even if others also got them right, the pool is split among the winners but the returns are still massive compared to the cost of your initial bet.

Let’s assume there’s a hypothetical Pick 5 pool of $100,000, based on your choices:

Just like we mentioned in our Pick 4 Horse Racing bet piece, try to keep these in mind every time youre doing picks:

Pick Your Chalk Horse

In at least one race, go with the horse you’re confident will win. This “chalk horse” keeps your cost down since you’re only betting on one horse in that race.

Spread in Tougher Races

For races where you can’t pick just one, select a few horses. If it’s wide open, maybe bet on 3-4 horses to cover your bases. It’ll up your chances but also increase the cost of your ticket so use this only when absolutely necessary.

Find Value Whenever You Can

Avoid betting only on favorites, especially if they’re shaky. Mix it up with solid picks and potential long shots. The real payday comes when a long shot wins, boosting your payout. I’d also advice doing this when it makes sense, don’t bet on horses with clear track disadvantages just because the odds are tempting.

Tips for Pick 5 Horse Racing Bets

Horse racing bets are very fluid but taking into account the following will always work in your favor:

Don’t Overcomplicate Your Bets

Don’t go crazy covering too many horses: it’ll just hike up costs and shrink your profits. Be selective, trust your research, and find that sweet spot between making smart picks and keeping your budget in. Making well-structured, cheaper tickets that win more often can give you a better return in the long run, add up whenever you hit long shots in pick bets or simply don’t eat up as much of your betting budget than you would if you constantly lose big bets.

Keep Your Budget in Check

Bet small when you can. These bets can add up fast. Just like we mention in every pick bet post: if you pick 2 horses in race one, 3 in race two, 1 in race three, and 4 in race four, that’s 2 x 3 x 1 x 4 = 24 combinations. So, a $1 bet ends up costing you $24. It’s a big cost spike that you can avoid by picking horses with legitimate chances to take the race.

Bonus Tip (This one its Important)

Can’t stress this enough: if you’re making a Pick 5 with a $1 minimum, the IRS won’t start withholding unless your winnings hit 600-1 odds. But for a $2 bet, they’ll tax anything at 300-1 odds or higher. So, sticking to smaller bets can help keep more money in your pocket. Don’t underestimate their cut, and you’ll find yourself with a heavier wallet when the day is over.

$1 Pick 3: ALL, 3, 4

This means any horse can win the first race, but horse #3 has to win the second race, and horse #4 has to win the third. If the first race has seven horses, this bet will cost $7.

How do you Calculate the Pick 3 Costs for a $1 Bet?

To figure out your cost, you multiply the number of horses you choose in each race by the base wager. For a $1 bet, the formula looks like this:

H x H x H x P

• H = Number of horses picked in each race
• P = $1 (your base bet amount)

So, if you pick 7 horses in the first race, 1 in the second (horse #3), and 1 in the third (horse #4), it’s:

7 x 1 x 1 x $1 = $7

You can still pick multiple horses in any leg, but the more you choose, the higher the cost. These bets can pay off, but keep an eye on your total cost so you don’t overdo it.

$1 Pick 3: 123 / 456 / 789

If you’re going for multiple horses in each race, here’s how it works for a $1 bet. If you pick horses 1, 2, or 3 in the first race, 4, 5, or 6 in the second, and 7, 8, or 9 in the third, your total bet would cost $27:

3 x 3 x 3 x $1 = $27

This bet wins if any of those horses win their respective races.

What is a Pick 5 bet?

You’ve got to pick the winners of five consecutive races. All your picks need to win for you to cash out.

How does the payout work?

It’s based on the combined odds of your winning horses. Miss one, and your bet’s toast—no payout.

Can I box a Pick 5?

Nope, no boxing here. Your horses must win exactly in the order you picked them.

How much does a Pick 5 bet cost?

The cost depends on how many horses you choose. The more horses, the higher the price—but your chances improve too.

What’s the minimum stake?

It’s usually $0.50 or $1, depending on the track. Check the rules at the racetrack you’re betting on.

How much can I win?

Payouts can be huge, especially if some underdogs win. You’re looking at thousands of dollars if everything hits.

Can I pick more than one horse in each leg?

Absolutely! You can go with multiple horses per race, but remember: each extra horse raises the cost of your ticket.

What’s the difference between Pick 5 and Pick 6?

Pick 5 covers five races. Pick 6 covers six races—it’s harder to hit but could lead to an even bigger payout!