horse racing news #TheAction: The Place Bet

The Action: The great thing about betting the races is that there is a whole menu of wagers available to every player, from the ultimate risk-takers to the risk-averse. The place wager is a step below the win wager on the “pyramid of risk” in horse betting. When you bet a horse to place, that horse does NOT have to win; you cash if your horses finishes first OR second.

Advanced Action: Place and show wagers (which we'll get to on episode three of #TheAction) pay less money than win bets. Average returns for place bets generally reflect win-wager payouts, in that horses with higher win odds will pay more to place than horses with lower odds. As with most bets in racing, the lower the risk, the lower the payout, and the higher the risk, the higher the reward.

So, when should you make a place bet? When the price is right. I’d suggest not making a habit of betting low-priced favorites (2-1 odds or less) to place. Unless a player is extremely proficient at handicapping, it’s difficult for any player to stay ahead of the game by correctly selecting low-priced horses to win or place. The return on investment generally isn’t high enough. Therefore, I’d recommend being selective when you make your win and place bets, reserving them for situations when you feel like the odds your preferred horse are high enough to justify the risk (something known as “value”, which we’ll explore soon on #TheAction).

Learn more at www.AmericasBestRacing.net.

horse racing news #TheAction: The Place Bet
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