How do Place Bets work in Horse Racing?

Question

specifically, If the payout appears as follows on a $2 bet:

-------W------P------S

1_11.80___6.40___4.60

2________9.80____7.00

3_______________5.60

And the bet was a $2 PLACE bet for the 1st horse, would you still receive $6.40, eventhough, the horse finished 1st and not 2nd?

Would a $10 PLACE bet for the 1st horse yield $32?

Answer 1

Simply a place bet is paid out on the 1st two horses in a race.The amount to be paid has nothing to do with the odds posted on the wagering board.The place pool winnings is split between the first two finishers and the amount placed on each horse determines how much the payoff will be.If a horse has 10000 bet to place and the other only has 1000 the horse with 1000 would get 10 x more for each 1 bet. yes a 10 place bet that paid 6.40 would pay 32 on a 2 bet.The only time this works different is if so much money is on one horse as to be more than the money in the pool the track (most) have to pay out art least .05 on 1 so you may have a payoff of 2.10 on a 2 bet even if your horse only had a small amount bet because the other horse had so much as to use up the entire pool and the track only has to pay the .05 on all bets taken in that pool.This seldom happens in a place pool but you may see it alot in show pools where the payoff is to three horses and big bet was placed on the favorite to show.hope this explains how a place wager is paid off.Don't think your getting cheated just because your 50-1 shot did not pay alot because the other horse was a favorite and got paid out alot of the money for his 2.20 place and yours was only 8.00 were as you might have got 40.00 to place if the other horse was also a long shot and your shares of the place pool were much larger.

Answer 2

Yes and Yes, you cash on a place bet if the horse finishes in the top 2, you cash on a show bet if it hits the top 3 and the win bet is obviously for a win only.  The payout is smaller for a place and show bet because it's easier to hit and the payout is spread out between more horses.

Answer 3

If you bet the horse to PLACE and he won, $6.40

If he PLACED, $9.80

If he SHOWED, -0-

Answer 4

Horse 1 won the race, horse 2 came in second (place), horse 3 came in third (show).  As the bettor, you won $11.80 per dollar you bet if you had #1 winning.  You won $6.40 per dollar if you had #1 place and you won $4.60 if your bet was #1 show.

The same logic applies to horses 2 and 3 for the payouts.