Intro to Horse Betting: The Pick 5

With Saratoga and Del Mar about to kick off, now’s the perfect time to sharpen your skills for one of horse racing’s most exciting bets: the Pick 5. It’s a high-stakes wager that can deliver massive payouts if you know how to play it right.

What Is a Pick 5?

The most basic explanation of a Pick 5 is that it’s a bet where you need to select the winner of five races in a row. For all the sports bettors out there, think of it like a five-leg parlay. But unlike a traditional parlay, you’re allowed to pick multiple horses in each race.

All the money wagered on a Pick 5 goes into one pool, with totals on big days ranging from $3–5 million. The pool operates in an eliminating fashion: if a horse wins a race and it wasn’t on your ticket, you’re out. But if you manage to include a longshot that few others saw coming, your chances of landing a juicy payout go way up.

If you hit all five races, you split the pool with anyone else who did the same. On major cards, that can lead to some serious scores—especially when a few favorites get knocked off.

Base Wagers and Ticket Cost

Most tracks across the country offer a base wager of $0.50, though some require a $1 minimum. To figure out how much your total ticket costs, multiply the number of horses you’re using in each leg together, then multiply that number by your base wager.

Example:

3,5 / 2,7,8 / 1,5 / 7,8,10 / 4,6,9,11

= 2 × 3 × 2 × 3 × 4 = 144 combinations

With a $0.50 base: 144 × $0.50 = $72

As you can see, the cost can climb quickly—so ticket structure is everything.

Singling in a Pick 5

One of the best ways to build a budget-friendly ticket is by singling a horse in one of the legs. If you feel strongly about a horse in a particular race, you can single it and hope it gets the job done. This is most often done in races with heavy favorites, which many bettors treat as a “free square.”

It’s a calculated risk, but it gives you flexibility. By singling, you're essentially turning your Pick 5 into a Pick 4 while still cashing a Pick 5-worthy payout. That one strong opinion opens up your budget to spread in the more competitive races, giving you more coverage where you need it most. And if your ticket’s still alive late, you might even find a spot to hedge and lock in some guaranteed profit. Here’s an example of a Pick 5 ticket I was able to cash—low risk, high reward, and built around a single that held strong.