Please explain this to me. The odds shown for a horse are only for a bet to win. right? So if the odds are 6-1 and the horse wins you get $6 for every $1 you bet right? What about Place bets? Do you get 3-1 odds on the same 6-1 horse since you are betting for the horse to come in 1st or 2nd (6/2=3) ? So the payout would be $3 for every $1 you bet. For show is it the same? If you bet on a 6-1 horse to show. do you get 2-1 odds (6/3=2)?
Or do the pay outs for all these bets work as a pool? For example If I bet bet a horse to place, the odds don't matter what matters is how many people made place bets, if there was a total of $1000 worth of place bets made on a race and only 2 people won. Than the pay out is $500 for each, it is split between the winners?
Is this the way Exactas, Trifecta and Superfectas work?
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