Where To Place Horse Bets
Win, Place, Show – How To Bet On Horses
If you’re looking to bet on horse racing but unsure where to begin, it’s best to start simple with a straight bet, and make a win, place, or show wager. How Win, Place, Show Betting Works This is a simple betting option that can be broken down into three components: Win, Place and Show. PLACE– When you bet on your horse to “place,” you’re betting that he will come in first OR second. If your horse finishes in first or second, you get to collect. Payout for a place bet is less than a win wager, but you do have the security of being able to cash in if your horse finishes in the top two spots.
WIN (W) bets require that a horse finishes in 1st place.
PLACE (P) bets require that a horse finishes in 1st or 2nd place.
SHOW (S) bets require that a horse finishes in 1st, 2nd, or 3rd place.
I’m going to use the diagram (of the finish of a race) below to answer some common questions on the Win, Place, Show bets. The Tote-Board Win odds are above each horse in parenthesis.
How do you calculate the expected payout for a Win Bet?
- Win payouts are based on a $2 wager. Multiply the Tote-Board odds times $2 and then add the $2 wager back.
For example, #8 is (7-1), so 7 x $2 = $14, Add $2 = $16 payout.
- To calculate prices for odds other than X-1, simply convert the (fractional) odds to a decimal equivalent and do the same calculation.
For example, odds of (8-5) equals 1.6 x $2 = $3.20, Add $2 = $5.20 payout.
- I always do this mental conversion to decimal equivalents for clarity in my own mind. In fact when I jot down the Tote-Board odds on my sheet they are always in decimal format. For Example:
| Tote-Board | Decimal | Payout |
|---|---|---|
| (9-2) | 4.5 | $11.00 |
| (7-2) | 3.5 | $9.00 |
| (5-2) | 2.5 | $7.00 |
| (9-5) | 1.8 | $5.60 |
| (7-5) | 1.4 | $4.80 |
| (4-5) | 0.8 | $3.60 |
What does it mean to bet a horse “Across the Board?”
This is just a shorthand way for making a Win, Place, and Show bet in equal amounts. For example, if you bet #8 for $2 Across the Board in the above race, your bets would be $2 to Win, $2 to Place, and $2 to Show for a total of $6 wagered.
In this example, a $2 WPS wager on #8 returned $28 ($16w + $7p + $5s).
To continue with the example, the same $2 WPS bet on #6 would have cost $6, but only returned $3 since the Show ticket is the only one cashed.
What happens if I bet a horse to Place and he wins the race?
You get the Place price only. So $2 to Place on #8 returns $7.
Can you calculate the expected Place price based upon the Win odds?
Win, Place, and Show wagers are all placed into separate Pools. So the anticipated Place price cannot be directly calculated based on the Win odds. In addition to that, the Place price is dependent on exactly who the 1st and 2nd place finishers are in the race. For further explanation on this point, keep reading.
Let’s change the order of finish slightly by switching the top two horses #8 and #2.
The former payouts are shown on the left for comparison, and the new payouts are shown on the right.
Since #2 is now the winner, his payout line is switched to the top of the chart. He pays $12 for a win ticket because his odds are 5-1. Formula (5 x $2) + $2.
Notice that the #8 place price stayed exactly the same ($7), as did the #2 place price ($6). That is because the same two horses finished in the top two positions, just in reverse order.
Now let’s change the order of finish again by pushing the #8 horse back to 3rd place and moving the #6 horse up to 2nd place.
Since #2 remains the winner, his Win price ($12) does not change. However, notice that his place price decreased from $6 to $5. Why? Because more total money was bet on #6 (the new 2nd place horse) to place than on #8 (the former 2nd place horse). This is reasonable, considering that the Win odds on #6 are 3-1, while the Win odds on #8 are 7-1.
Generally the amount of money bet on a horse is proportionate between the Win, Place, and Show pools. The simple reason why the payout is less for Place and Show wagers (compared to Win) is that the payout pool is being divided by two horses for Place and three horses for Show.
You can conclude from this information that your best return from a Place or Show wager generally happens when the favorite(s) does not finish “In The Money” (The Top Three Spots). Unless of course you bet on the favorite, which is another story!
There are a lot of opinions on whether or not it’s even wise to make Place and Show bets, as opposed to just Win bets, but we’ll save that topic for a future article.
Select “Get Started” from the menu above for a complete list of articles about Handicapping and Wagering. For example, Racing 101 has several articles about the basics of Horse Racing. And Meet The People has interviews with trainers (e.g. Christophe Clement), Jockeys (e.g. Gary Stevens), and on-track personnel (e.g. Maggie Wolfendale).
By Neal Benoit
We want your visit with us to be not only enjoyable, but also rewarding. When betting the horses, you are playing against other bettors, not the house. This is called “pari-mutuel wagering”. The track handles the bets and redistributes the money to the winners.
The Meadows Racetrack & Casino provides both teller-staffed windows and self-service wagering machines. Whichever you choose, the way to bet is the same.
Place your bet by:- Stating the track name
- Race number
- The dollar amount
- The type of bet
- The horses’ program number or numbers
For example: The Meadows, Race 3, $5 to Win on Number 4.
Winning tickets may be cashed at any window the day of the race or up to March 31 of the following year.
You can also wager with vouchers. Vouchers are just like cash but are easier and more convenient to use. They can be used for wagering at any live teller or self wagering machine. They can be exchanged for cash at any teller window.
WIN
The horse must finish first to collect.
PLACE
The horse must finish either first or second to collect. Generally the payoff is less than a win payoff.
SHOW
The horse must finish either first, second or third to collect. Generally the payoff is less than for Win or Place.
DAILY DOUBLE
You must pick the winners of two consecutive races to collect. Most tracks have this bet on the first two races of the card. Some tracks also have this bet on the last two races of the card.
EXACTA
You win by picking the first two horses to cross the finish line in exact order.
TRIFECTA
You win by selecting the first three horses to cross the finish line in exact order. This payoff is generally higher than an Exacta, but is a tougher bet to win.
Where To Place Horse Bets
SUPERFECTA
You win by selecting the first four horses to cross the finis line in exact order.
Where To Place Horse Bets
PICK 3 / PICK 4 / PICK 5 / PICK 6
Must pick winners of the number of consecutive races stated in the bet's name. For example a Pick 3 is for three consecutive races, a Pick 4 is for four consecutive races, etc.
Where To Place Horse Bets In Phoenix
You can increase your chances of winning by using boxes and wheels. Here is how they work:
BOX
This wager combines your selections to finish first and second in every possible combination. Example: If you be a 'Trifecta box 3-4-5,' you win if those three horses finish in any order first, second and third. This bet can be used with Exactas, Trifectas and Superfectas; it can be wagered in $1 increments and at lower increments at some tracks.
WHEEL
Combines one horse with all the others in a race. Example: If you wager an 'Exacta wheel 5-All,' you win if the five finishes first no matter whom finishes seconds. This bet can be used with all bets except Win, Place and Show and can be wagered in $1 increments.
PART-WHEEL
Lets you pick only the combinations you want. This is often used by very experienced bettors. Example: If you bet a 'Trifecta part wheel - 3 with 1, 2, and 4, with 1, 2, and 4,' you win if the 3 wins and 1, 2 or 4 finish second and third. This bet can be used with all bets except Win, Place and Show, an can be wagered in $1 increments.
Please consult the front of the live program, a teller or a self-bet machine for cost of box wagers as each additional horse adds to the cost.