Win Place Show Prints

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Win, Place and Show bets are the most common wagers placed among horse racing bets. They generally have lower payouts than exotic bets, such as the Exactas and Quinellas, but they are also a lot more frequently paid.

Understanding Win, Place and Show Betting

For a horse to “Win”, it must finish in the first position. If you bet on them to win you get paid only if they win the race.

A horse that “Places” is one that finishes in the second position, but a bet on a horse to place will payout if your chosen horse finishes first or second.

“Show” means a horse has finished in the third position. However, betting on a horse to Show does not necessarily mean it must finish third, but rather in the first, second or third position.

Above is an example of the “win place show” menu at Bovada.lv where you can bet on any horse to either win, place or show. You will also get $250 free at Bovada for the Kentucky Derby.

The more difficult a bet is to win, the more you can generally expect to be paid. However, due to the foundation of pari-mutuel betting, this isn’t always true. The more money that is placed on a specific bet, the lower the payout becomes. Viewing the tote board will tell you the payout probability of each specific bet at that moment.

Because bets are constantly coming in up until the start of the race, these odds can change drastically from the time you place your bet to the time the race begins.

If you are looking for bigger payouts I recommend the “win” or “place” bet if it is a mid to long shot. Betting on a favorite to “show” won’t pay out much, but betting on an underdog to show can often have a good payout. Head over to Bovada.lv for the best online horse racing betting.

Horse Racing Betting – Win Bets

• A Win bet is a manner of horse racing betting where the person selects a single horse in the race to finish in first place. The wager is only won if the horse finishes in first.

Horse Racing Betting – Place Bets

A Place bet is a manner of horse racing betting that requires the bettor to select a single horse in the race to finish in either first or second place. So long as the horse places (finishes in first or second), the bet is won. The amount paid on the bet is unequivocal, (i.e. the payout is the same no matter whether the horse finishes first or second.)

Horse Racing Betting – Show Bets

A Show bet is a manner of horse racing betting wherein the bettor selects a single horse in the race to finish anywhere in the top three positions. If the horse Shows (finishes in first, second or third), the bet is won. The amount paid is unequivocal, (i.e. the payout is the same no matter whether the horse finishes first or second.)

Horse Racing Betting – Win-Place Bets

A Win-Place bet is a manner of horse racing betting that is much like a Place bet. The bettor is choosing a single horse in the race that he/she believes will Win or Place (finish in first or second). If the horse Wins or Places, the bet is won. However, unlike the Place bet, the finishing position of the horse will determine the exact payout received on a bet, according to the probable payout odds on the tote board (i.e. a Win pays more than a Place.)

Horse Racing Betting – Win-Place-Show Bets

Also known as an “Across the Boards” bet, a Win-Place-Show bet is a manner of horse racing betting that is much like a Show bet. The bettor selects a single horse to Win, Place or Show (finish in first, second or third) in the race. If the horse Wins, Places or Shows, the bet is won. In contrast to the Show bet, however, the finishing position of the horse will determine the exact payout received on a bet, according to the probable payout odds on the tote board (i.e. a Win pays more than a Place; Place pays more than a Show.)

Win, Place, Show – How To Bet On Horses

WIN (W) bets require that a horse finishes in 1^st place.

PLACE (P) bets require that a horse finishes in 1^st or 2^nd place.

SHOW (S) bets require that a horse finishes in 1^st, 2^nd, or 3^rd 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:

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?

Win Place Show Prints

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 1^st and 2^nd 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.

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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 3^rd place and moving the #6 horse up to 2^nd 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 2^nd place horse) to place than on #8 (the former 2^nd 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.

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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!

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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).

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By Neal Benoit