Definition of Quinella Bet

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What does the term "quinella bet" mean in the world of horse racing? What is meant by a "quinella bet"?

With the exacta bet, a bettor is picking which two horses will finish #1 and #2 in the race, and it MUST be in the correct order.

With the quinella bet, a bettor is picking which two horses will finish in the top two in the race, but the finishing order doesn't matter.

So, let's say that "Top Horse" and "Moses" are racing in the Grand National.

A bettor picks Top Horse and Moses as his two horses in a quinella bet. The final finishing place of the two horses doesn't matter - all that matters is that they finish in the top 2.

With the exacta bet, the final finishing place matters.

With the quinella bet, the final finishing place doesn't matter.

So, Top Horse could win and Moses could finish in second, or Moses could win and Top Horse could finish in second.

Either way, the quinella bet would pay off as a winner.