Betting to Place
Place – Your horse must come in first or second.
Next into the win wager, the Place wager is among the earliest and most conventional. Having a location wager, your horse must finish first or second. The wager pays the same whether your horse wins or not.
Place and Show bets are much more conservative, since you’re giving yourself room for error because your horse can finish first or second, or first, second or third in case of show. However this implies that the payoffs are a bit lower because you’re sharing the place payoff with a different horse or 2. They are are most widely used together with other wagers, for example”win and place”,”across the board” or”win, place, and show”, or”place and reveal”.
Put payoffs and outcomes Place payoffs generally pay between $3.00 and $10.00, but might cover more with longshots and less with overwhelming favorites. Since the cash you win at a position bet is made by each the money bet on the horses that are losing, the more horses in the race the greater your odds for a larger place payoff.
Reading the Tote Board
1 important distinction is that the Place swimming pool is an entirely different pool than Win. It follows that horses might be bet differently in each of the pools. In a location wager, because you don’t understand which other horse will put, it is hard to forecast your prospective place payoffs. However, by comparing the location dollars to the win dollars, you can check the percentage of dollars on your horse to place.
By way of instance, taking a look at the #1 horse beneath, we could see that he has approximately 10 percent of the win pool, using $2,011/$20,000 = 10%. If we use the Win chances to as a yardstick, we’d expect that the #1 would have about 10 percent of the Place pool bet on him, or $1,000 of the $10,000 Place pool. But, we can observe that #1 has only $622 bet to put, or nearer to 6% of this pool. This means that the 1 is paying greater chances in the Place pool. The #1 is 8-1 to Win, however he is being bet like a 14-1 in the Place pool and also will pay more so.
This is like bargain shopping, when we get the value of a bigger payoff when it”should” provide a lesser payoff. The”should” is based upon the assumption that the Win chances are somewhat more correct that the Place odds. That is a plausible assumption, however, since the Win chances are easier to see and much more attention is paid to them, it is more probable that the Win odds are a truer reflection of their horse’s chances. Remember that if the #1 wins he will still pay more to win than to put (since Place needs to be split with a different horse), however, the #1 is a fantastic value from the Place pool. In this case, it might make sense to wager the #1 only to Position.