Have a question none have been able to answer...

[jim1701]

I know how to figure out the $$$ for a win bet .... by taking the odds *2 +$2 bet wager (for ex.)....


but how do you figure out the $$$ for a Place or Show bet?? What is the formula?

[Snowman]

you have to wait until the race is over Jim...pretty hard to figure out

It all depends on the other horse(s) that place or show for the payout from the pool.

[smitch124]

Here is a quick view of it that I posted in French Dip's $4000 thread, hope this helps Jim:

quick pari-mutual aside:

The place pools pays according to how much is bet to place on each horse.

Horse A 500 dollars
Horse B 1000 dollars

The whole place pool after the tracks cut is for example 10000

If Horse A and Horse B are the 2 placing horses

Horse A bettors get their 500 dollars returned ($1 for $1)
Horse B bettors get their 1000 dollars returned ($1 for $1)

the 2 share the other $8500 dollars ($4250 each)

Horse A bettors get an additional $4250/500 ($8.50) dollars for each dollar bet
Horse B bettors get an additional $4250/1000 ($4.25) dollars for each dollar bet

When there is a big race with a big favorite the public hammers him to win and while they hammer him to place they may not do it to the same extent. As a result the place payout could be more than the win payout...

[Rhino8266]

Going to be very difficult to get an answer for that question. Well, an answer that's possible to understand anyway. They're are just so many factors. Horse's odds, how many horses in the field, how low is the favorite, did the favorite even hit the board, etc. Smitch actually has a decent explanation though. Maybe try emailing 'The Daily Racing form'.

[skippy]

Originally Posted by jim1701

I know how to figure out the $$$ for a win bet .... by taking the odds *2 +$2 bet wager (for ex.)....


but how do you figure out the $$$ for a Place or Show bet?? What is the formula?

WIN:
P = total amount in WIN pool
T = amount bet on the winning horse
Payout (per dollar) = [(P - T) / T] + 1

PLACE:
P = total amount in PLACE pool
T1 = amount bet on the first place horse
T2 = amount bet on the second place horse
Place pool (PP) to be shared = P - (T1 + T2)
PP1 = PP / 2
PP2 = PP / 2
Payout1 (per dollar) = [(PP1 - T1) / T1] + 1
Payout2 (per dollar) = [(PP2 - T2) / T2] + 1

SHOW:
For SHOW, the available pool is split 3 ways.

[skippy]

Originally Posted by skippy

WIN:
P = total amount in WIN pool
T = amount bet on the winning horse
Payout (per dollar) = [(P - T) / T] + 1

PLACE:
P = total amount in PLACE pool
T1 = amount bet on the first place horse
T2 = amount bet on the second place horse
Place pool (PP) to be shared = P - (T1 + T2)
PP1 = PP / 2
PP2 = PP / 2
Payout1 (per dollar) = [(PP1 - T1) / T1] + 1
Payout2 (per dollar) = [(PP2 - T2) / T2] + 1

SHOW:
For SHOW, the available pool is split 3 ways.

NOTE:
The total amount available to be paid out to the winners is the net amount after the track takes out its cut.

[jim1701]

Thnx Skippy..smitch and Rhino for your responses. I appreciate it.