It’s been quite a month for the team at horseOlogy, and when we proposed this blog topic, we had no idea we’d be standing here today. We wanted to share some details about the various betting options for horseracing and planned to use a fun example, but showcasing Arcangelo, the winner of the 155th Belmont Stakes, wasn’t on our minds. How quickly things change! So here is a short guide to horseracing betting and odds and what win, place, and show mean.
Win, Place, and Show
“Win, place, and show” are terms used in horse racing to describe the different positions horses can finish in a race.
- Win: The horse that finishes first in a race is said to have “won.”
- Place: The horse that finishes second in a race is said to have “placed.”
- Show: The horse that finishes third in a race is said to have “shown.”
These terms are commonly used in horse racing to describe the order in which horses finish a race and determine the payout for bettors who wagered on those positions. For example, a bettor who placed a bet on a horse to “win” will only win if that horse finishes first, while a bettor who placed a bet on a horse to “show” will win if that horse finishes in the top three positions.
Betting and Odds
Betting and odds play a significant role in horse racing, allowing spectators to wager on the outcome of races.
There are various types of bets you can place in horse racing, including:
- Win: Betting on a horse to win the race.
- Place: Betting on a horse to finish in the top two positions.
- Show: Betting on a horse to finish in the top three positions.
- Exacta: Betting on two horses to finish in first and second place in the exact order.
- Trifecta: Betting on three horses to finish in first, second, and third place in the exact order.
- Superfecta: Betting on four horses to finish in first, second, third, and fourth place in the exact order.
Odds represent the likelihood of a horse winning a race.
The final payout is determined based on the odds, and the total amount of money wagered on each horse. The odds can change leading up to the race as more bets are placed, which reflects the betting market’s sentiment and the perceived chances of each horse winning.
It’s important to note that these are general explanations, and the specific rules, bet types, and odds may vary depending on the country, racetrack, or specific event. Before placing any bets, it’s advisable to familiarize yourself with the particular betting options and odds available at the racetrack or through online betting platforms.
Real Life Example
Our funny, sweet, and motivated graduate Arcangelo entered the 2023 Belmont Stakes at 7-1. That means for every dollar bet; the payout would be seven if he came in first. Which he did, of course.
The purse, which is the winnings for the horse and their team, was $1.5 million for the Belmont Stakes. Arcangelo took home $900,000 of that. The payouts for betting on Arcangelo for the win were $17.80, $7.20, $4.90.
Another Way to Get Involved
Betting isn’t the only way to get involved in horseracing. At horseOlogy, we’re always looking for investors for a process known as Pinhooking. Pinhooking is buying a horse at one stage of development and selling them at the next. At horse sales like Keeneland, we will purchase young horses we think have potential, bring them back to horseOlogy and work with them, and then sell them at the next sale.
To do this, we need people to get involved. You can buy fractional shares of these horses, but ultimately you’re investing in the horseOlogy program and philosophy. You’re trusting Jena, Katie, and their team with the care and development of these young horses. And some of them, like Arcangelo, can go on to do great things, and you can be part of that history.
Do you want to learn more about investing in horseOlogy?