Understanding Horse Racing Place Bets
New horse racing enthusiasts often ask,”What is a Place bet in horse racing?” A Place bet is among the simplest bets that can be made in racing: just pick the horse you think will cross the cable or second.
The Position bet payoffs are lower compared to a win bet since the pool of monies wagered is split between the horse which wins and the the horse that is the runner-up. Nevertheless, seeing the toteboard for an overlay in the pool can be an extremely profitable way to play with a Place bet on horse racing.
What’s the wager amount for a Position bet?
The bet for a Position bet is $2. Some tracks have experimented with a $1 or even $.50 alternative, but that has not yet become popular.
Place bets made online have the exact same minimal as betting Place bets made in the horse racing track.
Could I bet a horse to Position and Win?
Yes! Creating a Win-Place bet will double the price of your ticket because you are betting into every pool.
Just how far can I win on a Position bet?
Winnings on Place bets are infinite and based on the odds when the pools close at post time. Payoffs are calculated by the entire pool less the track’s commission (called takeout), then divided among all of the winning tickets. If you had wagered $ two and correctly picked a winning Place stake at the 2016 Belmont Stakes…
… The Place payoff could have been $14.60 for a bet on the horse Creator (1st place finisher) or $9.40 for a bet on the horse Destin (2nd place finisher). A winning Place Bet from last year’s Belmont Stakes created a favorable (approximate) 7-1 payout or 5-2 payout depending on which upper 2 finishing horse was chosen.