Unlike win betting, in which you can see approximately what your horse will pay to win on the tote board before the race runs, determining what your horse will pay to place requires you to do some calculating based on the place pool. In fact, some very intelligent gamblers make a living simply by waiting for overlays in the place pools. The payoffs are understandably lower on winning place bets because the place pool (all money wagered to place on a race minus the track takeout) is split between two horses – the horse that wins the race and the horse that finishes second.īut while the payoffs are lower for place bets, there are certain situations in which place betting can be lucrative.
When you bet to place your horse must finish first or second in order for you to cash a ticket.
