It's almost time to raise those Mint Julep glasses again. The 149th edition of the highly anticipated Kentucky Derby is set for May 6, and it's time to start preparing for it. The "Run for the Roses" is not just for those who know about horses or like wearing stylish hats, it is also one of the most gambled on sporting events of the year.
Horse betting is a bit different from other sports, but the good news is you don't need to be a veteran gambler to have some fun in the first race of the Triple Crown. There will be many terms that will seem unfamiliar to first time viewers, unless you read our handy cheat sheet. The terminology is not always self-explanatory, but we've got you covered.
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An important disclaimer: Knowing the terminology, or even studying the horses, doesn't guarantee a big pay day. Sometimes, ignorance is bliss ... and profitable. Last year's winner, Rich Strike, won as a 80-1 longshot.
Anyway, here's a rundown of the terms you'll want to be familiar with:
BET TO WIN: Well, this one is pretty self-explanatory. You're betting on a horse to win the race.
BET TO PLACE: You're betting on a horse to finish either 1st or 2nd in the race.
BET TO SHOW: You're betting on a horse to finish either 1st, 2nd or 3rd in the race.
EXACTA: You're betting on both the 1st and 2nd place finishers in a race.
TRIFECTA: You're betting on the 1st, 2nd and 3rd place finishers in a race.
SUPERFECTA: You're betting on the 1st, 2nd, 3rd, and 4th place finishers in a race.
DAILY DOUBLE: You're betting on the winners of two separate races.
PICK 3: You're betting on the winners of three consecutive races.
PICK 4: You're betting on the winners of four consecutive races.
PICK 5: You're betting on the winners of five consecutive races.
PICK 6: You're betting on the winners of six consecutive races.
Obviously, some of those are more challenging endeavors than others so, as is always the case with gambling, play the odds at your own peril.