Win, Place, Show – How To Bet On Horses | Getting Out Of The Gate

WIN, PLACE, SHOW — HOW TO BET ON HORSES

WIN (W) stakes demand a horse finishes in 1st place.
PLACE (P) stakes require that a horse finishes in 1st or 2nd location.
SHOW (S) bets demand a horse finishes in 1st, 2nd, or 3rd place.
I’m going to use the diagram (of the finish of a race) below to answer some common questions about the Win, Place, Show bets. The Tote-Board Win odds are above each horse in parenthesis.
How do you calculate the expected payout to get a Win Bet?
Win payouts are based on a $1 bet. Multiply the Tote-Board odds occasions $2 and then add back the bet.
By way of example, #8 is (7-1), so 7 x 2 = 14, Add $2 = $16 payout.
To compute prices for chances aside from X-1, just convert the (fractional) chances to a decimal equivalent and do the exact same calculation.
For example, odds of (8-5) equals 1.6 x $2 = $3.20, Add $2 $5.20 payout.

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