WIN, PLACE, SHOW — HOW TO BET ON HORSES

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

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