WIN, PLACE, SHOW — HOW TO BET ON HORSES

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

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