The hardest thing about making Place bets is remembering the multiples that you need to bet for each pairing and the payout when you win (review our other article about basic craps math to learn about the “pairings”). The bet multiple depends on the Place odds. Let’s look at the pairing 4 and 10, which has Place odds of 9:5. The 2020 presidential election can make you quite rich if you bet correctly. It can also provide countless hours of entertainment. By trying to predict political outcomes and the events surrounding the next United States election, you can actually enjoy watching the primaries and debates – even when the contenders are calling each other names and going on tangents. Show bet – A bet on a horse to finish in the money; third or better. In the money – A horse that finishes first, second, or third. Across the board – A bet on a horse to win, place, and show. If the horse wins, the bettor collects three ways; if second, two ways (place, show); and if third, one way, losing the win and place bets.
1. How Often Does a Horse Run a Place?
![Place Bets Odds Place Bets Odds](https://i.ytimg.com/vi/cs0Zpy2pdpA/maxresdefault.jpg)
Over the years, I’ve had a number of punters ask me about place betting strategies and whether they are likely to win. On the surface it seems like a good idea to find horses that you really like to win and then back them to place. You will enjoy more regular collects, turn what would have been some losing days into winning days and the profits will slowly accumulate, right?
![Place Bets Odds Place Bets Odds](https://fthmb.tqn.com/mkKnbgfgFW17TsJsZShYa5f_jww=/498x664/filters:fill(auto,1)/craptable-56a105533df78cafdaa7f3ca.jpg)
Unfortunately, what is good in theory doesn’t often translate to practice and that’s certainly the case with place betting. The reality is that on average, the value in place betting markets is significantly less than win betting markets and is therefore much more difficult to profit from.
Odds On Place Bets Craps
To properly analyse the merits of place betting you first need to understand how often a horse that has a certain chance of winning, will actually run a place.Consider an example where you like a horse in the market at $6.00 and believe it’s closer to a $4.80 or $5.00 chance. Juegos de casino gratis tragamonedas para descargar. Do you know how often this horse can be expected to run a place?
In the example above, assuming your $4.80 to $5.00 assessed price is correct, you can expect the horse to run a place (1st to 3rd) 52% – 53% of the time.It’s easy to think that you like a horse so much and feel so confident about its chance of winning, that it’s almost certain to run a place, but the reality is far different.
The table below shows the historical place strike rate of horses based on their true win price / actual win percentage.
True Win Price | Actual Win % | Actual Place % |
---|---|---|
$2.00 | 50.0% | 81.0% |
$2.00 | 40.0% | 74.0% |
$3.00 | 33.3% | 68.0% |
$4.00 | 25.0% | 59.0% |
$5.00 | 20.0% | 52.0% |
$7.50 | 13.3% | 41.0% |
$10.00 | 10.0% | 34.0% |
$15.00 | 6.7% | 26.0% |
$21.00 | 4.8% | 20.5% |
$26.00 | 3.8% | 17.0% |
$31.00 | 3.2% | 15.5% |
$51.00 | 2.0% | 10.5% |
Note: This does not mean that a horse $5.00 in the market has a 52% place chance.
On average horses at $5.00 in the market only win approximately 18% of the time, not 20%. They’re true win price is closer to $5.50, which means they will run a place approximately 49.5% of the time.Once you have an understanding of the expected place strike rate for a horse’s true winning chance, you can work out the correct place price.
Best payout casino in shreveport. Two Place Prices
Craps Place Bets Odds
Actual Win % | True Win Price | Actual Place % | True Place Price |
---|---|---|---|
50.0% | $2.00 | 81.0% | $1.23 |
40.0% | $2.50 | 74.0% | $1.35 |
33.3% | $3.00 | 68.0% | $1.47 |
25.0% | $4.00 | 59.0% | $1.69 |
20.0% | $5.00 | 52.0% | $1.92 |
13.3% | $7.50 | 41.0% | $2.44 |
10.0% | $10.00 | 34.0% | $2.94 |
6.7% | $15.00 | 26.0% | $3.85 |
4.8% | $21.00 | 20.5% | $4.88 |
3.8% | $26.00 | 17.0% | $5.88 |
3.2% | $31.00 | 15.5% | $6.45 |
2.0% | $51.00 | 10.5% | $9.52 |
Place Bet Payout
Example: If you assess that a horse’s real chance of winning 20%, then it’s true win price should be $5.00 and its true place price should be $1.92