What is a wheel wager and why does it cost and pay more than a boxed bet? To "wheel" a bet is to play every combination of a Pick 3 number in a straight bet. The player must then pay for a straight bet on all 6 combinations of the number. If any combination of that number comes up, the player wins the straight amount of $250 for a $.50 bet or $500 for a $1 bet. For example, to play the numbers 1-2-3 in a wheel means that you are placing 6 straight bets on the numbers: 1-2-3; 2-1-3; 3-1-2; 1-3-2; 3-2-1 and 2-3-1. At $.50 per bet, playing 1-2-3 " wheel" costs $3 ($.50 X 6 bets).
On the other hand, in a boxed bet the amount wagered is divided across all combinations of the number, reducing your wager per number and therefore the payout when you win.
What are the differences between all of the box bets such as 3-way box, 6-way box, 24-way box, 12-way box, 6-way box and 4-way box? Why is there a varied payout? A boxed bet is a winner if any combination of your numbers come out as winning numbers. The 3-way and 6-way box bets only pertain to the Pick 3 game. The term "3-way" and "6-way" refer to the number of combinations that are possible for a certain bet. If your Pick 3 bet consists of 3 unique digits, such as 1-2-3, there are 6 different winning combinations possible (1-2-3; 1-3-2; 2-1-3; 2-3-1; 3-1-2; and 3-2-1). This is a 6-way box. A Pick 3 number that has 2 like numbers, such as 1-1-2, only has 3 possible winning combinations--1-1-2; 1-2-1; and 2-1-1. This is a 3-way box bet. You win more money for 3-way box bets because there is a lower probability of winning with only 3 possible combinations rather than 6.
The same principle applies to the Pick 4 box bets which are the 24-way, 12-way, 6-way and 4-way boxes. Again, the "24-way" refers to how many possible combinations of a number there are. A Pick 4 boxed bet with 4 unique digits, such as 1-2-3-4, has 24 different possible winning combinations. With 24 ways to win, this is the easiest Pick 4 box, therefore it has the lowest payout. The 12-way box applies to a number that has 2 like numbers within it, such as 1-1-2-3. The 6-way box has 2 pair, example 1-1-2-2; and a 4 way box has 3 like numbers, for example 1-1-1-2. The 4-way box has the highest payout because with only 4 possible combinations, it is the least probable box bet to win.
What is a back-up bet? You can play both Pick 3 and Pick 4 numbers in a "back-up" bet. This simply means that you are backing up one straight bet combination with a box bet. Therefore, if your straight bet wins, you win both the straight amount and the boxed amount. If your numbers do not come up straight, but a combination of your numbers come up, you win only the boxed amount.