How to Make a Place Bet in a Horse Race

When you go to a horse race, you get to spend the afternoon in the fresh air, and enjoy the excitement of wagering. While there are many kinds of bets, there are a few staples, like betting a horse to place. That means if the horse finishes first or second, you win money.

Instructions

Difficulty: Moderately Easy

1. Note the upcoming race. At most tracks, you can bet on the horses racing on-site as well as horses at other tracks. Usually there is a board and a giant TV screen, which broadcasts races from the other tracks.
2. Buy a guide for the races at the track or follow the free guide in the local newspaper. The guide lists the races for the day, the horses, their odds and their recent performance history.
3. Check the odds and other factors. Consider track condition, each horse's recent record and the size of the payouts. The odds change right up until post time, depending on where the money is moving at the ticket window. So the odds are an approximation that can change at any time. After the race, they will announce what a "place" ticket pays.
4. Pick your horse. You can bet on more than one horse to place. That increases your odds of winning the bet. However, it also decreases your profits, as you will most likely lose the other bet. And if both horses finish third or worse, than you lose both bets.
5. Proceed to the ticket window or betting module and place your bet. If you are speaking with a teller, indicate the race, the size of your bet, and the number of your horse. You will say something like, "In the third race, I want $2 on the 6 horse to place."
6. Receive your ticket and make sure it is correct before leaving the betting window.
7. Watch the horse race and cheer your ponies on. Hopefully your horse will finish first or second and you will be able to collect.

Tips & Warnings

• Place multiple bets on the same race to increase your odds of a big payout. Also, the more exotic bet you place, the more money they will pay. Risking just a couple of dollars may net you a couple of hundred. If you only make "place" bets, the odds of a big payout are nil unless the long shot comes in.