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Pros and cons of multirace bets in horse racing?

The primary advantage of multirace bets – the Daily Double, Pick 3s, Pick4s, etc. — is that it’s possible to realize a substantial profit from a relatively small wager.

That stands in contrast from win, place and show betting, where a bigger bankroll is required in order to make a big score.

That also points to their main disadvantage: It is much more difficult to hit those combination bets than it is to pick a single winner. As a result, many players include multiple combinations on their tickets to improve their chances of cashing a ticket.