How Does A Win Place Show Bet Payout

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Here is an odds payout chart for $2.00 win bets, plus free betting, parlay, margin and hedge calculators and current carryovers for all horse tracks. Our Bet Calculator allows you to automatically calculate the Payout for any given combination of Stake and Odds, including Multiples. Enter the Stake and Odds for your bet and the Bet Calculator will automatically calculate the Payout. Add Odds for Multiples. Odds are simply the way prices and payouts are shown at a horse track. The numbers displayed as 4-7 or 2-5 tell you what you pay and how much you get back if the horse you bet on wins. The first number tells you how much you could win, the second number is the amount you bet. So, if the odds are listed as 2-1, you’ll get $2 for every $1 you bet. The place terms may be: 1/2 odds 1,2. This means to place he must be in the first two of the tournament (ie: make the final). If he does place then you get ½ the win odds for your place bet ie: you get 4/1 for your win bet and half those odds are 2/1 for your place bet. The Three Different Win Place Show Bets. Win: If you wager $2 to Win on your horse, you collect only if your horse finished first. Place: If you wager $2 to Place, your horse must finish first or second for you to collect. But remember, you don’t get the Win payoff, just.

What is a Place Bet?

When you bet to place your horse must finish first or second in order for you to cash a ticket. The payoffs are understandably lower on winning place bets because the place pool (all money wagered to place on a race minus the track takeout) is split between two horses – the horse that wins the race and the horse that finishes second.

But while the payoffs are lower for place bets, there are certain situations in which place betting can be lucrative. In fact, some very intelligent gamblers make a living simply by waiting for overlays in the place pools.

Unlike win betting, in which you can see approximately what your horse will pay to win on the tote board before the race runs, determining what your horse will pay to place requires you to do some calculating based on the place pool. The total amount of money bet into the place pool on a race, and the amount bet to place on each horse, is displayed on the tote board at most modern racetracks.

While the calculations required to determine place payouts may seem like too much work for a casual bettor, a patient handicapper with reasonable skills can make a profit on place betting alone. Additionally, intelligent place betting can help you avoid occasional losing streaks experienced by even the sharpest bettors.

Calculating the Payout

What Does A Win Place Show Bet Pay

A reasonably accurate method of calculating what your selection will pay to place is to add all the money bet on your choice to place, as shown on the tote board, to all the money bet on the favorite to place. Or, if your selection is the favorite, add all the money bet on the favorite to place to all the money bet on the second choice to place. You then subtract that amount from the total place pool amount and subtract a further 15 percent for track take out and breakage. The amount of money left over after these calculations is approximately what will be divided among the holders of winning place tickets. Keep in mind that if the favorite runs out of the money, the payoffs will obviously be higher, but what we want to calculate is the approximate minimum we would get back for our wager.

For example:

Total amount of money bet into the place pool = $48,000

Amount remaining after 15 percent track takeout = $40,800

Total amount bet on the favorite to place = $20,000

Total amount bet on your selection to place = $12,000

Total profit to be split equally among winning place bettors = $40,800 – ($20,000 + $12,000) = $8,800

$8,800/2 = $4,400 to be paid back to holders of place tickets on the favorite (the winner) and $4,400 to be paid back to place ticket holders on the second place finisher.

Win Place And Show

To calculate the amount the favorite will pay to place: $4,400/$20,000 = $0.22 per dollar wagered.

How Does A Win Place Show Bet Payout Odds

How does a win place show bet payout today

Rounding off the $0.22 for breakage the payout becomes $0.20 per $1 wagered.

A $2 place bet on the favorite would return approximately $2.40.

To calculate the amount your choice would pay to place: $4,400/$12,000 = $0.36 per dollar wagered.

Horse betting win place show

Rounding of $0.36 for breakage the payout becomes $0.30 per $1 wagered.

A $2 place bet on your selection would return $2.60.

The above calculations assume that the favorite either runs first or second. If the favorite runs out of the top two spots, the place payout will be larger, simply because the money bet on the favorite to place is now available to the holders of winning place tickets.

If you really like a horse other than the favorite, and you think there is an excellent chance that the favorite can finish out of the top two spots, you may have found yourself a good opportunity to bet to place or even win-place. A solid wagering strategy, in this case, might be to bet twice as much to place as you bet to win. If your horse fails to win but still finishes second, and the favorite runs out of the top two spots, your doubled up place bet will in all likelihood produce a decent profit.

Another scenario where it pays to bet to place is when your selection, even if it happens to be the favorite, is an overlay in the place pools. For example, if 50 percent of the win pool has been bet on your selection, but only 25 percent of the place pool has been bet on your selection, you have found yourself an overlay.

How Does A Win Place Show Bet Payout

In numerical terms, if $5,000 of the $10,000 win pool has been bet on your selection, that equals 50 percent of the pool. If only $1,000 of the $4,000 place pool in the same race has been bet on your selection, that equals only 25 percent of the pool, or a 100 percent overlay.

In reality, finding 100 percent overlays in the place pool is a rarity, but finding overlays of between 25-35 percent is not uncommon. Waiting for and spotting these types of overlays requires great patience and a trained eye for the tote board, but they can increase your odds of making a profit and beating the 15-20 percent track takeout.

Finally, if you really like a horse at odds of better than 5-1, a win bet is probably the play. But, if your selection is 9/2 or less and the favorite is lukewarm odds of 8/5 or higher, a place bet or win-double-place bet can be a solid alternative to win betting. One that offers a good chance of making a profit while at the same time reducing your risk.

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Parlay betting allows horseplayers to bet the races they want, their way. Since your Parlay races don’t have to be consecutive on the card, you can identify the horses you want to bet no matter the race they’re in. Plus, you can alternate between Win, Place and Show bets, so you can build your Parlay based on how strongly you feel about each horse. Plus, parlay wagering is the only way to roll over all of your winnings to the next bet – even the pennies. So you really are betting every penny.

My preferred Parlay betting approach is to build a Parlay around my day’s ‘best bets,’ especially when they’re racing later in the card. Start a small ($10 or $20) five-leg parlay and make the first four legs Show bets on lower-priced horses. Then close it to a Win bet on the horse you like most. You just might be able to parlay your $10 or $20 base bet into a $50 or $100 Win bet on your horse just by making a series of Show bets. And if you lose along the way, you’re only out your starting amount. But if you win, you could be looking at a very nice payout.