If you’re a U.S. horse bettor, you may never have heard the term trixie bet, which is a term most often heard in European betting shops. It is essentially a strategy for multi-race wagers with a built-in hedge.
It works like this: Let’s say you like horses A, B and C in the first three races. A trixie would include a Pick 3 and three Daily Doubles (one is actually a parlay, since the races aren’t run consecutively) linking the individual betting interests. In other words, using a $5 base bet, a trixie would cost $20 and consist of a $5 Pick 3 with A, B, C; and $5 doubles with A-B, A-C and B-C.
This strategy is best for situations where you have a high degree of confidence in your selections, since unless at least two of your horses win your return will be a big fat zero.