WIN, PLACE, SHOW — HOW TO BET ON HORSES

WIN (W) stakes demand a horse finishes in 1st location.
PLACE (P) bets require that a horse finishes in 1st or 2nd location.
SHOW (S) bets demand that 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 a few common questions on the Win, Place, Show bets. The Win chances are over each horse in parenthesis.
How can you figure out the expected payout to get a Win Bet?
Win premiums are based on a $2 bet. Multiply the Tote-Board odds occasions $2 and then add the wager back.
For instance, #8 is (7-1), so 7 x $2 = 14, Add $2 = $16 payout.
To calculate prices for chances aside from X-1, simply convert the (fractional) odds to a decimal equivalent and perform the exact same calculation.
By way of instance, odds of (8-5) equals 1.6 x $2 = $3.20, Add $2 = $5.20 payout.

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