The following simple equation is used to calculate the potential profit of a wager with positive moneyline odds. Potential Profit = Stake x (Odds/100) Since you also get your stake back with a winning wager, this needs to be taken into account when calculating your total payout. Let’s use a couple of examples to illustrate how this works. The Three Different Win Place Show Bets. Win: If you wager $2 to Win on your horse, you collect only if your horse finished first. Place: If you wager $2 to Place, your horse must finish first or second for you to collect. But remember, you don’t get the Win payoff, just.

Win, Place, and Show are the most basic horse bets. They are the building blocks of more complex bets like the trifecta, superfecta, quinella, or exacta. Win, Place or Show payouts depend on your horse’s odds. Likely winners payout smaller because they are less risky. Long shot horses payout larger because they are more risky.

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The following video clip explains how to place these bets. Watch the entire video for other horse bets.

Win Bet
The Win bet is picking the first position horse. The bet ONLY pays if your horse finishes first.

Place Bet
The Place bet is picking the second position finisher. The bet also pays if your horse finishes first.

Show Bet
The Show bet is picking the third position finisher. The bet also pays if your horse finishes first or second.

Sample for how to place a win, place, or show bet from a horse racebook.

1. Note the horses in the race, listed on the left. The next 'ML' column lists the odds.
2. Click your mouse on the checkbox in the Win column that corresponds to your horse. In this case, the bettor has chosen Atiello with 6:1 odds to Win.
3. The same procedure applies for making Place and Show bets. Click your mouse on the checkbox corresponding to the horse and wager.
4. *** Notes: You can pick multiple horses for each bet type. These additional wagers cost more money and will decrease your winning bet’s profit. Consider an analogy to roulette: If you put a chip on every number, you’ll obviously win. However subtracting the cost of covering the board from your single number win lowers your final profit.

Win, Place, or Show Betting Payout Example

The following is a Win, Place, or Show payout chart.

In this race Jolly Roger won, followed by Right On and Three Cubed. We have the following payouts considering the definitions of Win, Place and Show bets. Note the amount is also subject to each horse’s individual odds.

This table means the following:

1. Jolly Roger pays $10.60 for the Win Bet. $8.40 for the Place bet, finishing second or first. $4.80 for the Show Bet, finishing third, second or first.
2. Right On pays $14.80 for the Place Bet, finishing second or first. $10.20 for Show bet, finishing third, second or first.
3. Three Cubed, pays $8.20 for the Show Bet, fininishing third, second or first.

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Check your horse’s odds before making any Win, Place or Show bet. If you pick a heavy favorite to win, your payout will be smaller compared to picking a long shot horse.

Payouts are figured by the amount of money in each bet’s pool. Pools are determined by the total dollar amount wagered for a particular bet, less the racebook’s service fee. This fee is similar to a sportsbook’s vigorish or juice. See the racebook’s tote board for the latest odds.

Highly favored horses to win – or 'odds on' horses – have lower payouts. When this horse wins, the entire Win pool must be divided among all winners. Winning crowd favorites tend to produce smaller profits. Gamblers choosing long shots collect more money because the odds are remote and fewer people share the winnings.

Prudent horses bettors don’t always take the crowd favorite. Over time, this strategy results in sustained losses. Instead, look for medium to long shot horses. These horses represent better value. The fewer bettors in the wagering pool, the better. That means larger payouts are divided among a smaller number of people, versus smaller payouts divided among a large number of people.

Win Place And Show Bet

Parlay betting allows horseplayers to bet the races they want, their way. Since your Parlay races don’t have to be consecutive on the card, you can identify the horses you want to bet no matter the race they’re in. Plus, you can alternate between Win, Place and Show bets, so you can build your Parlay based on how strongly you feel about each horse. Plus, parlay wagering is the only way to roll over all of your winnings to the next bet – even the pennies. So you really are betting every penny.

How Does A Win Place Show Bet Payouts

My preferred Parlay betting approach is to build a Parlay around my day’s ‘best bets,’ especially when they’re racing later in the card. Start a small ($10 or $20) five-leg parlay and make the first four legs Show bets on lower-priced horses. Then close it to a Win bet on the horse you like most. You just might be able to parlay your $10 or $20 base bet into a $50 or $100 Win bet on your horse just by making a series of Show bets. And if you lose along the way, you’re only out your starting amount. But if you win, you could be looking at a very nice payout.