The three main types of horse racing wagers you’re likely to encounter at your local racetrack are Win, Place, and Show bets. These wagers have been a part of horse racing for centuries and are the most widely used wagers at the racetrack. Single horse bets are easy enough for beginners to calculate odds on but still offer a chance to win big if you pick a long shot.
The type of wager you choose depends on your personal preference, with each horse racing bet having its own set of rules, odds and risks. But when you’re at the track or watching races while you’re at home, which one is the best choice? Let’s break these three wagers down and get you ready to place your next bet with confidence!
Win
A Win bet is the most straightforward of all horse racing bets. You pick which horse you think will finish first, and if they do, you get a payout. This bet is the riskiest of the three with only one shot at a payout.
Place
A Place bet means betting that a horse will come in first or second place. The payoffs on Place bets are lower than those on Win bets because payouts are split between the horse that wins and the runner-up.
Show
A Show bet is similar to a Place, except you’re betting that your horse will finish first, second or third place, regardless of order. This is the least risky of the bets discussed here but comes with a reduced payout, as everyone who bet on the top three finishers splits the prize pool.
What Is the Minimum Wager Amount in Horse Racing?
While it varies depending on the track, most racetracks begin betting at $2. Bets made online will have the same minimum wager as placing your bets in person.
How Much Can I Win With a Horse Racing Bet?
Your payout depends on the odds of the horse you pick — let’s say you place a $2 Win bet on a horse with 10/1 odds. Since you receive $10 for every $1 you bet, you’d win $20 if your horse comes in first.
How Do I Win With a Win, Place or Show Bet?
Knowledge is the key to success when to win a Win, Place or Show bet. Like any other wager, winning with a Win, Place or Show bet depends on making smart horse picks and having a handful of luck. Having a solid understanding of the horses racing and the conditions affecting them will help you make educated decisions about which horses to place your bets on and set you up for success.
Want to learn more about the world of horse racing and betting?
Visit our Horse Racing FAQs & Glossary.
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