The system of betting that is standard throughout the horse racing world is based on pari-mutuel wagering. All money wagered is placed into a pool, a “Take-Out” is removed from the pool, and the remaining money is returned to the winning wagers. The diagram below shows an example with the assumption of a 25% takeout rate and a total of $400 wagered.
In two prior posts, I covered the topic of Win-Place-Show wagers. While these relatively simple wagers, sometimes referred to as “straight” wagers, have been a main staple for horseplayers over the years, there are many other wagering options available. These other wagers are frequently referred to as “Exotic” wagers, and can be divided into two main categories: Intra-Race and Multi-Race. Intra-Race wagers involve predicting the order of finish within a single race. Multi-Race wagers predominantly involve predicting the winner in multiple races in succession. Read More >>
The system of betting that is standard throughout the horse racing world is based on pari-mutuel wagering. All money wagered is placed into a pool, a “Take-Out” is removed from the pool, and the remaining money is returned to the winning wagers. The diagram below shows an example with the assumption of a 25% Take-out percentage and a total of $400 wagered.
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Continuing with the example from the prior post: Win, Place, Show (Part 1), let’s change the order of finish slightly by switching the top two horses #8 and #2.
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WIN (W) bets require that a horse finishes in 1st place.
PLACE (P) bets require that a horse finishes in 1st or 2nd place.
SHOW (S) bets require that 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 on the Win, Place, Show bets. The Tote-Board Win odds are above each horse in parenthesis.
