Definition of Pick 3 Bet

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What is a "pick 3 bet" in the world of horse racing? What is meant by a "pick 3 bet"?

In horse racing, a "pick 3 bet" is when you pick horses to win in three consecutive races.

So, let's say that you are at your local track and decide to do a "pick 3 bet" for the first three races of the day.

You pick:

Race 1: "Lucky Strike"
Race 2: "Napoleon"
Race 3: "Thunder and Lightning"

So, if all three of these horses will their respective races, you will win your ticket.

Note: All three horses will have to win in order for you to cash

The downside is that it is obviously very hard to correctly guess three straight horses to win.

The upside? There is a very large payout if you guess all three horses correctly.

For instance, your odds for a "pick 3" ticket might end up at over 100/1, depending on the horses that you select to win.