Understanding Horse Racing Place Bets
New horse racing fans often inquire,”What is a Place stake in horse racing?” A Place bet is one of the easiest bets you can make in racing: just pick the horse you think will cross the cable or second.
The Place bet payoffs are lower than a win bet since the pool of monies wagered is divided between the horse which wins and the the horse that’s the runner-up. That said, seeing the toteboard for an overlay in the pool can be a very profitable way to play with a Place bet on horse racing.
What is the wager amount for a Position bet?
The minimum bet for a Place bet is $2. Some monitors have experimented using a $1 or even $.50 alternative, but that has not yet become popular.
Place bets created online have the exact same minimum as betting Place bets made in the horse racing track.
Could I bet a horse to Win and Place?
Yes! Creating a Win-Place wager will double the cost of your ticket since you’re gambling into every pool.
How far can I win a Place bet?
Winnings on Place bets are infinite and based on the odds once the pools close at post time. Payoffs are calculated from the entire pool less the monitor’s commission (known as takeout), subsequently split among all the winning tickets. If you had wagered $2 and properly picked a winning Set bet in the 2016 Belmont Stakes…
… The Place payoff would have been $14.60 for a wager on the horse Creator (1st place finisher) or $9.40 for a wager on the horse Destin (2nd place finisher). A winning Place Bet from last year’s Belmont Stakes created a positive (approximate) 7-1 payout or 5-2 payout depending on which upper 2 finishing horse has been selected.