![]() In a place wager, because you don't know which other horse will place, it is difficult to predict your potential place payoffs. This means that horses may be bet differently in each of the pools. One important distinction is that the Place pool is an entirely different pool than Win. Since the money you win in a place bet is generated by all of the money bet on the losing horses, the more horses in the race the greater your chances for a larger place payoff. Place payoffs typically pay between $3.00 and $10.00, but can pay more with longshots and less with overwhelming favorites. They are are most commonly used along with other wagers, such as "win and place", "across the board" or "win, place, and show", or "place and show". However this means that the payoffs are a bit lower since you are sharing the place payoff with another horse or two. Place and Show bets are much more conservative, as you are giving yourself room for error since your horse can finish first or second, or first, second or third in case of show. The wager pays the same whether your horse wins or not. With a place wager, your horse must finish first or second. Next to the win bet, the Place wager is one of the oldest and most traditional. Place - Your horse must come in first or second.
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