How Do Win Place Show Bets Work
This is when make a show bet on a horse and then wager the winnings of that wager on another race. Also, the winnings can be divided up and to place two show wagers on different races. Sometimes, a group people will all put in $5 to wager show bet to win dinner that evening. The reality is that the very large majority of punters aren’t even making +10%-12% on their win betting. If you are making 6% to 8% on the win side then place betting profit is virtually zero or a small loss. “The constant theme is that whatever the win profit edge, the place profit edge is significantly lower.” 5. Here you are wagering on a horse to Win Place Show on one ticket. If your horse wins, you receive Win Place Show payoffs. If your horse finishes second, you receive Place and Show payoffs; and if your horse is third, you receive the Show payoff only.
- How Do Bet Odds Work
- How Do Win Place Show Bets Work At Home
- Win Place Show Bet Payout
- How Do Win Place Show Bets Work In
- How Do Win Place Show Bets Worksheets
A parlay is a single sports wager that involves two or more bets combined into one. This can include point spreads, moneylines, totals, futures, or even prop bets, as long as the bets are on different games. The allure of these bets has always been a larger payout than choosing a single team to win. But there’s more gamble to these types of wagers because every “leg” of the parlay needs.
1. How Often Does a Horse Run a Place?
Over the years, I’ve had a number of punters ask me about place betting strategies and whether they are likely to win. On the surface it seems like a good idea to find horses that you really like to win and then back them to place. You will enjoy more regular collects, turn what would have been some losing days into winning days and the profits will slowly accumulate, right?
Unfortunately, what is good in theory doesn’t often translate to practice and that’s certainly the case with place betting. The reality is that on average, the value in place betting markets is significantly less than win betting markets and is therefore much more difficult to profit from.
To properly analyse the merits of place betting you first need to understand how often a horse that has a certain chance of winning, will actually run a place.Consider an example where you like a horse in the market at $6.00 and believe it’s closer to a $4.80 or $5.00 chance. Do you know how often this horse can be expected to run a place?
In the example above, assuming your $4.80 to $5.00 assessed price is correct, you can expect the horse to run a place (1st to 3rd) 52% – 53% of the time.It’s easy to think that you like a horse so much and feel so confident about its chance of winning, that it’s almost certain to run a place, but the reality is far different.
The table below shows the historical place strike rate of horses based on their true win price / actual win percentage.
| True Win Price | Actual Win % | Actual Place % |
|---|---|---|
| $2.00 | 50.0% | 81.0% |
| $2.00 | 40.0% | 74.0% |
| $3.00 | 33.3% | 68.0% |
| $4.00 | 25.0% | 59.0% |
| $5.00 | 20.0% | 52.0% |
| $7.50 | 13.3% | 41.0% |
| $10.00 | 10.0% | 34.0% |
| $15.00 | 6.7% | 26.0% |
| $21.00 | 4.8% | 20.5% |
| $26.00 | 3.8% | 17.0% |
| $31.00 | 3.2% | 15.5% |
| $51.00 | 2.0% | 10.5% |
Note: This does not mean that a horse $5.00 in the market has a 52% place chance.
On average horses at $5.00 in the market only win approximately 18% of the time, not 20%. They’re true win price is closer to $5.50, which means they will run a place approximately 49.5% of the time.Once you have an understanding of the expected place strike rate for a horse’s true winning chance, you can work out the correct place price.
Two Place Prices
| Actual Win % | True Win Price | Actual Place % | True Place Price |
|---|---|---|---|
| 50.0% | $2.00 | 81.0% | $1.23 |
| 40.0% | $2.50 | 74.0% | $1.35 |
| 33.3% | $3.00 | 68.0% | $1.47 |
| 25.0% | $4.00 | 59.0% | $1.69 |
| 20.0% | $5.00 | 52.0% | $1.92 |
| 13.3% | $7.50 | 41.0% | $2.44 |
| 10.0% | $10.00 | 34.0% | $2.94 |
| 6.7% | $15.00 | 26.0% | $3.85 |
| 4.8% | $21.00 | 20.5% | $4.88 |
| 3.8% | $26.00 | 17.0% | $5.88 |
| 3.2% | $31.00 | 15.5% | $6.45 |
| 2.0% | $51.00 | 10.5% | $9.52 |
Example: If you assess that a horse’s real chance of winning 20%, then it’s true win price should be $5.00 and its true place price should be $1.92
Betting on a horse race for the first time — even the first few times — can be an intimidating endeavor. What are all of these options? Here’s all the lingo you need to know before you place your first bet:
The Basics
Winbet – A bet on a horse to finish first.
Place bet – A bet on a horse to finish first or second.
Show bet – A bet on a horse to finish in the money; third or better.
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In the money – A horse that finishes first, second, or third.
Across the board – A bet on a horse to win, place, and show. If the horse wins, the bettor collects three ways; if second, two ways (place, show); and if third, one way, losing the win and place bets. It’s actually three bets.
Morning line – The odds that the track handicapper predicts a horse will go off at.
Ready for the Next Step?
Exotic (bet) – Any bet other than win, place, or show that requires multiple combinations. Examples of exotic wagers are exacta, trifecta, Pick 6, Pick 4.
Daily Double (or Double) – Type of bet calling for the selection of winners of two consecutive races.
Exacta – A wager in which the first two finishers in a race, in exact order of finish, must be picked.
Box – A betting term denoting a combination bet whereby all possible numeric combinations are covered for certain horses.
Exacta box – A wager in which all possible combinations using a given number of horses are selected. For example, an exacta box using horses 2,4,6 would produce a winning ticket if any two of those three horses finished first and second, regardless of the order (2-6, 4-2, 6-4, etc.).
Trifecta – A bet in which the first three finishers must be selected in exact order.
Trifecta box – A trifecta wager in which all possible combinations using a given number of horses are bet upon.
Pick (6 or other number) – A type of multi-race bet in which the winners of all the included races must be selected. Pick 3, Pick 4, Pick 5, Pick 6 are commonly used by tracks in the United States.
Brush Up on Gambling Lingo
How Do Bet Odds Work
Bounce – A racehorse’s especially poor performance on the heels of an especially good one.
Chalk – Betting favorite in a race.
Chalk player – Gambler who wagers on favorites.
Key horse – A single horse used in multiple combinations in an exotic bet.
On the board – Finishing among the first three.
How Do Win Place Show Bets Work At Home
On the nose – Betting a horse to win only.
Overlay – A horse whose odds are greater than its potential to win. Professional bettors target overlays, meaning they target bets that offer better than fair value odds.
Underlay – A horse whose odds are less than than his potential to win. Betting horses whose odds are worse than fair value is a poor strategy.
Win Place Show Bet Payout
Parlay – A multi-race bet in which all winnings are subsequently wagered on a succeeding race.
How Do Win Place Show Bets Work In
Speed Figure – A metric that rates a horse’s performance in a race, which is determined by a combination of the horse’s performance and the level of competition he/she competed against.
How Do Win Place Show Bets Worksheets
Wheel – Betting all possible combinations in an exotic wager using at least one horse as the key.