Win, Place and Show bets are by far the most common types of bets placed by traditional horse racing bettors. Generally, these wagers are commonly called straight bets and can be placed by just about anyone interested in horse race betting because they are very simple and offer low risk compared to exotic wagers like Exactas, Trifectas and Quinellas. Even so, a basic understanding of these types of bets is required if you are to succeed and get paid frequently like most Win, Place and Show betting specialists. Below is a guide for online sportsbetting enthusiasts who are looking to jump into the Win, Place and Show Pools.
Closer Look at Understanding Win, Place, Show Wagering
Win: A win bet simply means that you cash in from the horseracing betting lines if your horse wins a given race (finishing in first position). If, for example, you bet $20.00 on a 5/1 shot and it wins the race, your will win a total of $120.00.
Place: This type of bet generally pays lower than Win bets, but they are just as good for reaping decent profits over a sustained period of time. For you to win a Place bet, your horse must finish first or second.
Show: In Show betting, your horse must finish in the first, second, or third for you to win the bet. Since the pool here is split three ways, the eventual payoff will generally be even smaller than in Place and Win bets.
Notably, if you place you wager on a horse to Place or Show, but it ends up finishing the race in first position, you will only be paid at the price of Place or Show wagering, respectively, rather than being paid at the value of a Win bet.
What happens when you bet Across the Board? Well, that’s just as simple way of saying that you place a Win, Place, Show bet in equal amounts such as $20.00 for Win, $20.00 for Place and $20.00 for Show, meaning you have a total of $60.00 wagered on the race. In this form of betting, you will receive a Win, Place and Show payout if your horse wins the race; if the horse finishes second, you receive Place and Show payouts; and if your horse finishes third, you will only receive the Show payout.
Why Bet on Win, Place, Show Wagers?
As earlier mentioned, Win, Show and Place bets are generally considered ‘low risk’ compared to other forms of betting.
An additional advantage is that there is usually a lower betting takeout on these types of wagers. While the takeout– the cut the track organizers take to pay purses and expenses—in Exactas and Trifectas range from 18% to as high as 30% in some tracks, the takeouts in Win, Place and Show bets mostly range around 17%.
Finally, Win, Place and Show wagering can easily help you know the ins and outs of horse race betting, especially if you are new to horseracing bets, while allowing you to build your bankroll in a much safer way.