WIN, PLACE, SHOW — HOW TO BET ON HORSES
WIN (W) stakes require a horse finishes in 1st location.
PLACE (P) stakes require a horse finishes in 1st or 2nd place.
SHOW (S) bets require a horse finishes in 1st, 2nd, or 3rd location.
I’m going to use the diagram (of the finish of a race) under to answer some common questions about the Win, Place, Show bets. The Win chances are over every horse in parenthesis.
How can you figure out the payout for a Win Bet?
Win payouts are based on a bet. Multiply the Tote-Board odds occasions $2 and then add the wager back.
By way of instance, #8 is (7-1), so 7 x $2 = $14, Add $2 = $16 payout.
To calculate prices for chances other than X-1, simply convert the (fractional) chances to a decimal equivalent and do the same calculation.
By way of instance, odds of (8-5) equals 1.6 x $2 = $3.20, Add $2 $5.20 payout.