Place Betting 101: The Essential Knowledge You Need to Start Making Money at the Races

Place Betting

Welcome to the exciting world of horse racing betting! If you're new to this thrilling pastime, you might feel a bit overwhelmed by all the different types of bets and odds. But fear not – we're here to help guide you through the basics of place betting so you can start making money at the races in no time!

Best Horse Racing Betting Sites for Place Betting

100% free play bonus up to $500 and the best Reduced Juice odds.

T&Cs Apply

Full terms and conditions apply. 18 + only.

Welcome Bonus: 50% Cash or 75% Free Play up to $1,000

T&Cs Apply

The minimum deposit to apply for this bonus is $50. Max bonus: $1,000.00 – 15x Rollover. Eligibility: New Accounts that have not played in 3 months or more. These bonuses can be claimed once per customer only. WagerWeb.EU reserves the right to change the Terms and Conditions for any promotion at any given time and without notice. Bonuses, rules, etc., are subject to change after Risk Management reviews your account. Restrictions apply.

50% up to $200 Bonus with Bonus Code: WELCOME200
T&Cs Apply
All general Everygame Sportsbook rules apply. Only one Everygame Sportsbook bonus code may be active in an account at any one time. If a code is currently active in an account, a new code may not be redeemed. A Sportsbook bonus cannot be transferred to Poker or Casino We reserve the right to exclude customers from bonuses at any time and with immediate effect. This bonus offer is also available for the following amounts in the following currencies: CAD 200,-, CHF 200.-, DKR 1350.-, EUR 200.-, GBP 200.-, HKD 1550.-, NOK 2150.-, SEK 2150.-, ZAR 3600.-. All other customers will receive the bonus in USD. The bonus offer is NOT available to customers from the following countries: Azerbaijan, Bosnia & Hercegovina, Bulgaria, Belarus, China, Croatia, Cuba, Cyprus, Czech Republic, Estonia, Georgia, Greece, Hungary, Indonesia, Iran, Italy, Kazakhstan, Laos, Latvia, Libya, Lithuania, Malawi, Mauritius, Moldova, Montenegro, Nepal, North America, North Macedonia, Pakistan, Peru, Poland, Portugal, Romania, Russia, Serbia, Slovakia, Slovenia, Suriname, Tajikistan, Turkmenistan, Ukraine, Uzbekistan.
75% match bonus up to $750 on first deposit using Bitcoin or Bitcoin Cash with code: BTCSWB750
T&Cs Apply
$750 Crypto Sports Welcome Bonus The Promotion consists of one (1) 75% match bonus up to $750, and is valid with a Bitcoin, USDT, Litecoin, Bitcoin Cash or Bitcoin SV Deposit. The bonus code, BTCSWB750, can be redeemed once per player only on their first deposit, using Bitcoin or Bitcoin Cash. The bonus is only eligible for use in Sportsbook, Racebook, and Casino. It is not available for Poker. The maximum value of the Promotion per player is $750. You may use your bonus on any sport, wager type and odds. Once the bonus code has been redeemed, players must meet the rollover requirements. Only activity following code redemption counts towards fulfilling the bonus requirements. Rollover is 5x Sports/5x Horses/30x Casino on both the initial deposit and the bonus amount. "Rolled Over" means that your total online betting action must meet the amount deposited, including the bonus. Rollover in our Sportsbook, for winning wagers, will be determined by the lesser of your risk or win amount at the time of wager settlement; for losing wagers your risk amount will be credited to your rollover contribution. If a withdrawal is made before the bonus terms are met, all bonus funds as well as any money earned by wagering the bonus will be forfeited. Bonus funds cannot be used for play on Live Dealer games. Play in Craps or Live Dealer does not count toward meeting rollover requirements for withdrawal. All other games contribute to rollover requirements; however, certain games may have a greater contribution than others. For more information please view our wagering contribution chart.

Introduction to Place Betting in Horse Racing

Place betting is one of the most popular forms of horse racing betting because it offers a great balance between risk and reward.

Unlike win betting, where your horse needs to finish first to earn a payout, with place betting, your horse just needs to come in either first or second to generate a profit.

This makes place betting a more accessible option for beginners who are still learning about how horse racing works.

What is a Place Bet?

A place bet is a wager on a specific horse to finish in either first or second place.

Depending on the race and the track, the number of horses that qualify for a place payout may vary.

For example, some races may offer only two places while others may offer three or even four. Be sure to check the rules before placing your bet.

How Does Place Betting Work?

To make a successful place bet, you need to pick a horse that will finish in either first or second place.

Your payout will depend on several factors, including the odds of your chosen horse and the amount of your bet.

The higher the odds, the greater your potential payout will be. However, if your horse comes in third or lower, you won't receive any winnings.

The Different Types of Horse Racing Bets

There are many different types of horse racing bets, but the most common ones include:

Win bets – A wager on a specific horse to finish in first place Each way bets – A combination of a win bet and a place bet.

Exacta bets – A wager on two specific horses to finish in first and second place in the correct order.

Trifecta bets – A wager on three specific horses to finish in first, second, and third place in the correct order.

Understanding Odds and Payouts

Odds represent the probability of a particular outcome occurring.

In horse racing, they are typically expressed as fractions (e.g., 2/5) or decimals (e.g., 4.30).

To calculate your potential payout, multiply the decimal equivalent of the odds by the amount of your bet.

For example, if you bet $10 on a horse with odds of 4.30 and it wins, you would receive a payout of $43 ($10 x 4.30 = $43).

Strategies for Successful Place Betting

Here are some strategies to help you make successful place bets:

  • Research the horses and their performance histories before choosing which ones to bet on
  • Look for value bets – these are horses that have good odds but aren't heavily favored.
  • Consider using exotic bets like exactas and trifectas to increase your chances of winning big

Common Mistakes to Avoid When Place Betting

Like any form of gambling, certain mistakes can cost you dearly when place betting.

Here are a few to watch out for:

  • Betting too much on longshots – while it's tempting to go for high odds, these horses often don't perform well enough to justify the risk.
  • Ignoring the favorites – just because a horse is heavily favored doesn't mean it can't win; sometimes the favorite really is the best choice.
  • Not doing your research – without knowledge of the horses and their performances, you'll struggle to make informed choices.


Horse racing betting can be an exciting and profitable hobby, especially when it comes to place betting.

By following our tips and avoiding common pitfalls, you'll be well on your way to making money at the races!

Leave a Reply

Your email address will not be published. Required fields are marked *

Verified by MonsterInsights