What Does Win Place And Show Mean In Horse Racing

• What Does Win Place And Show Mean In Horse Racing Entries
• What Does Win Place And Show Mean In Horse Racing Scratches

New Customers only. Opt in and place a £10 qualifying bet at odds of 2.00 or greater on Horse Racing within 7 days of registering; excludes cashed out bets. Receive 3x £10 Horse Racing Free Bets, plus a £10 Gameshow Bonus. Wager Gameshow Bonus 40x to withdraw max winnings of £250. Bonuses expire in 7 days. PayPal and Card payments only. For horse racing, betting sites show win and place odds for parimutuel pools before a race starts. In my understanding, calculating place odds requires knowing which runners place, as explained here: How then bookies calculate place odds before the off - what's the formula, assuming Australian understanding of place (three horses place if 8+ run, two horses place.

• Abandoned - A race meeting which has been cancelled because a club did not receive sufficient nominations to be able to stage it, or because of bad weather which made racing on the track unsafe. All bets placed on abandoned races are fully refunded.
  
• Acceptor - A runner officially listed to start in a race.
  
• Accumulator - (Also, Parlay) A multiple bet. A kind of 'let-it-ride' bet. Making simultaneous selections on two or more races with the intent of pressing the winnings of the first win on the bet of the following race selected, and so on. All the selections made must win for you to win the accumulator.
  
• Across The Board - (See 'Place') A bet on a horse to win, place or show. Three wagers combined in one. If the horse wins, the player wins all three wagers, if second, two, and if third, one.
  
• Age - All thoroughbreds count January 1 as their birth date.
  
• Ajax - UK slang term for 'Betting Tax'.
  
• All-age Race - A race for two-year-olds and up.
  
• All Out - A horse who is trying to the best of his ability.
  
• Allowances - Reductions in weights to be carried allowed because of certain conditions such as; an apprentice jockey is on a horse, a female horse racing against males, or three-year-olds racing against older horses.
  
• All Weather Racing - Racing that takes place on an artificial surface.
  
• Also Ran - Any selection not finishing 1st, 2nd, 3rd or 4th in a race or event.
  
• Ante Post - (Also, Futures) Bets placed in advance predicting the outcome of a future event. Ante-post prices are those on major sporting events, usually prior to the day of the event itself. In return for the chance of better odds, punters risk the fact that stakes are not returned if their selection pulls out or is cancelled.
  
• Apprentice - A trainee jockey. An apprentice will usually ride only flat races.
  
• Approximates - The approximate price a horse is quoted at before a race begins. Bookmakers use these approximates as a guide to set their boards.
  
• Arbitrage - Where a variation in odds available allows a punter to back both sides and guarantee a win.
  
• ART - Artificial Turf.
  
• ATS - Against The Spread.
  
• AWT - All weather track.
  
• Baby Race - A race for two-year-olds.
  
• Back - To bet or wager.
  
• Backed - A 'backed' horse is one on which lots of bets have been placed.
  
• Backed-In - A horse which is backed-in means that bettors have outlaid a lot of money on that horse, with the result being a decrease in the odds offered.
  
• Back Marker - In a standing start event, which is handicapped, the horse who is given the biggest handicap is known as the backmarker.
  
• Backstretch - The straight way on the far side of the track.
  
• Back Straight - The straight length of the track farthest away from the spectators and the winning post.
  
• Backward - A horse that is either too young or not fully fit.
  
• Banker - (Also, Key) Highly expected to win. The strongest in a multiple selection in a parlay or accumulator. In permutation bets the banker is a selection that must win to guarantee any returns.
  
• Bar Price - Refers to the odds of those runners in a race not quoted with a price during early betting shows. The bar price is the minimum odds for any of those selections not quoted.
  
• Barrier - (Also, Tape) A starting device used in steeple chasing consisting of an elastic band stretched across the racetrack which retracts when released.
  
• Barrier Draw - The ballot held by the race club to decide which starting stall each runner will occupy.
  
• Bat - (Also, Stick) A jockey's whip.
  
• Beard (US) - A friend or acquaintance or other contact who is used to placing bets so that the bookmakers will not know the identity of the actual bettor. Many top handicappers and persons occupying sensitive positions use this method of wagering.
  
• Bearing In (Out) - Failing to maintain a straight course, veering to the left or right. Can be caused by injury, fatigue, outside distraction, or poor riding.
  
• Beeswax - UK slang term for betting tax. Also known as 'Bees' or 'Ajax'.
  
• Bell Lap - In harness racing, the last lap of a race, signified by the ringing of the bell.
  
• Bet - A transaction in which monies are deposited or guaranteed.
  
• Betting Board - A board used by the bookmaker to display the odds of the horses engaged in a race.
  
• Betting Ring - The main area at a racecourse where the bookmakers operate.
  
• Betting Tax - Tax on a Bookmaker's turnover. In the UK this is a 'Duty' levied on every Pound wagered. Common methods of recouping this by the punter are to deduct tax from returns (winnings) or to pay tax with the stake/wager. In the latter case, no tax is deducted from the punter's winnings.
  
• Bettor (US) - Someone who places or has a bet. A 'Punter' in the UK.
  
• Beyer Number - A handicapping tool, popularized by author Andrew Beyer, assigning a numerical value to each race run by a horse based on final time and track condition. This enables different horses running at different racetracks to be objectively compared.
  
• Bismarck - A favourite which the bookmakers do not expect to win.
  
• Blanket Finish - When the horses finish so close to the winning line you could theoretically put a single blanket across them.
  
• Blind Bet - A bet made by a racetrack bookmaker on another horse to divert other bookmakers' attention away from his sizeable betting on his/her main horse thus to avoid a shortening of the odds on the main horse.
  
• Blinkers - A cup-shaped device applied over the sides of the horse's head near his eyes to limit his vision. This helps to prevent him from swerving away from distracting objects or other horses on either side of him. Blinker cups come in a variety of sizes and shapes to allow as little or as much vision as the trainer feels is appropriate.
  
• Board - Short for 'Tote Board' on which odds, betting pools and other race information are displayed.
  
• Bomb(er) - A winning horse sent off at very high odds.
  
• Book - A bookmaker's tally of amounts bet on each competitor, and odds necessary to assure him of profit.
  
• Bookie - (U.K.) Short for bookmaker. The person or shop who accepts bets.
  
• Bookmaker - Person who is licensed to accept bets on the result of an event based on their provision of odds to the customer. (Sportsbook US).
  
• Bottle - UK slang, odds of 2 to 1.
  
• Box - A wagering term denoting a combination bet whereby all possible numeric combinations are covered.
  
• Boxed (in) - To be trapped between other horses.
  
• Bobble - A bad step away from the starting gate, sometimes caused by the ground breaking away from under a horse and causing him to duck his head or go to his knees.
  
• Bolt - Sudden veering from a straight course.
  
• Book - A collection of all the bets taken on fixed odds betting events.
  
• Bookmaker (Bookie) - A person registered and licensed to bet with the public.
  
• Breakage - Those pennies that are left over in pari-mutuel payoffs which are rounded out to a nickel or dime.
  
• Breeders' Cup - Thoroughbred racing's year-end championship. Known as Breeders' Cup Day, it consists of eight races conducted on one day at a different racetrack each year with purses and awards totalling $13 million. First run in 1984.
  
• Bridge-Jumper (US) - Bettor who specializes in large show bets on odd-on favourites.
  
• Buck (US) - A bet of US$ 100 (also known as a 'dollar bet').
  
• Bug Boy - An apprentice rider.
  
• Bull Ring - Small racetrack less than one mile around.
  
• Burkington Bertie - 100/30.
  
• Buy Price - In Spread or Index betting, the higher figure quoted by an Index bookmaker.
  
• Buy the Rack (US) - Purchase every possible daily-double or other combination ticket.
  
• Canadian - Also known as a Super Yankee. A Canadian is a combination bet consisting of 26 bets with 5 selections in different events. The combination bet is made up of 10 doubles, 10 trebles, five 4-folds and one 5-fold.
  
• Card - Another term for fixture or race meeting.
  
• Carpet - UK slang for Odds of 3 to 1 (also known as 'Tres' or 'Gimmel').
  
• Caulk - Projection on the bottom of a shoe to give the horse better traction, especially on a wet track.
  
• Century - GBP£ 100 (also known as a 'Ton').
  
• Chalk - Wagering favorite in a race. Dates from the days when on-track bookmakers would write current odds on a chalkboard.
  
• Chalk Player - Bettor who wagers on favorites.
  
• Chase - See 'Steeplechase'.
  
• Checked - A horse pulled up by his jockey for an instant because he is cut off or in tight quarters.
  
• Chute - Extension of the backstretch or homestretch to allow a longer straight run.
  
• Client (US) - Purchaser of betting information from horseman or other tipster.
  
• Close (US) - Final odds on a horse (e.g. 'closed at 5 to 1'). Confusingly equates to 'Starting Price' in the UK.
  
• Closer - A horse that runs best in the latter part of the race (closing race), coming from off the pace.
  
• Co-Favorites - Where three or more competitors share the status as favorite.
  
• Colors (Colours) - Racing silks, the jacket and cap worn by jockeys. Silks can be generic and provided by the track or specific to one owner.
  
• Colt - An ungelded (entire) male horse four-years-old or younger.
  
• Combination Bet - Selecting any number of teams/horses to finish first and second in either order.
  
• Conditional Jockey - Same as 'Apprentice' but also allowed to jump.
  
• Correct Weight - Horses are allocated a weight to carry that is checked before and, for at least the placegetters, after a race. Correct weight must be signaled before bets can be paid out.
  
• Daily Double - Type of wager calling for the selection of winners of two consecutive races, usually the first and second. See 'Late Double'.
  
• Daily Racing Form - A daily newspaper containing racing information including news, past performance data and handicapping.
  
• Daily Triple - A wager where the bettor must select the winner of three consecutive races.
  
• Dead Heat - A tie. Two or more horses finishing equal in a race.
  
• Dead Track - Racing surface lacking resiliency.
  
• Declaration Of Weights - The publication of weights allocated to each horse nominated for a race by the handicapper.
  
• Declared - In the United States, a horse withdrawn from a stakes race in advance of scratch time. In Europe, a horse confirmed to start in a race.
  
• Deductions - When a horse is scratched from a race after betting on that race has already started, deductions are taken out of the win and place bets at a rate in proportion to the odds of the scratched horse.
  
• Derby - A stakes event for three-year-olds.
  
• Dime (US) - A bet of USD$ 1,000 (also known as a 'dime bet').
  
• Distanced - Well beaten, finishing a long distance behind the winner.
  
• Dividend - The amount that a winning or placed horse returns for every $1 bet by the bettor.
  
• Dog (US) - The underdog in any betting proposition.
  
• Dog Player (US) - A bettor who mainly wagers on the underdog.
  
• Double - Selecting the winners in two specific races.
  
• Double Carpet - UK slang for Odds of 33 to 1, based on 'Carpet'.
  
• Draw - Refers to a horse's placing in the starting stalls. For flat racing only. Stall numbers are drawn at random.
  
• Drift - (Also, Ease) Odds that 'Lengthen', are said to have drifted, or be 'On The Drift'.
  
• Driving - Strong urging by rider.
  
• Dual Forecast - A tote bet operating in races of 3 or more declared runners in which the punter has to pick the first two to finish in either order.
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In horse racing, the term purse distribution may refer to the total amount of money paid out to the owners of horses racing at a particular track over a given period of time, or to the percentages of a race's total purse that are awarded to each of the highest finishers. This article focuses on the latter definition.

Background[edit]

Prior to the 1970s, only the owners of the first four finishers in a horse race in the United States typically received any money at all. In Thoroughbred racing, it was common for 65% of the race's purse was awarded to the winner, with the second, third and fourth horses earning 20%, 10% and 5% respectively. This procedure had some drawbacks, especially in the event of inclement weather — owners would often seek to 'scratch,' or withdraw their horses from a race, if the track was wet, and even more so if rain forced a scheduled turf, or grass race, to be moved to the main, or dirt, track. It was largely in an effort to encourage larger fields in these circumstances that many American state racing associations began changing their purse-distribution formats during the last three decades of the 20th Century.

One frequently-implemented reform was to include horses finishing fifth in the purse distribution; the method most often employed for doing this was to award 60% of the purse to the winner, 20% to second, 11% to third, 6% to fourth and 3% to fifth, a format still observed by many tracks today. Some tracks even went so far as to include the sixth-place runner in the purse as well; most often, this resulted in 60% being given to the winner, 20% to second, 10% to third, 5% to fourth, 3% to fifth and 2% to sixth.

In 1975, the state of Florida enacted a purse-distribution format that has had revolutionary implications for the sport of horse racing in the United States: Its adopted plan provided 1% of the purse to all finishers in the race lower than fourth; this meant that the percentages paid out to the horses finishing second, third and fourth (but not first) became variable, depending upon the size of the field. For example, if a race had twelve starters, 60% of the purse went to the winner, 18% to second, 10% to third, 4% to fourth and 1% each to fifth through twelfth; with only six starters the winner received the same 60%, but 20% went to second, 13% to third, 5% to fourth and 1% each to fifth and sixth. This system is still in use at all of the state's thoroughbred tracks today, although a slight modification in the actual percentages (resulting in the second-place share being increased at the expense of the third and/or fourth) was made in 2005.

Some tracks have taken to awarding less than 1% to each unplaced finisher, especially those tracks at which the purses have been greatly enhanced due to revenue from affiliated casinos, which may or may not be on the premises of the track itself — since in that case the smaller percentage is adequate to cover the fee to which the jockey is entitled, which can be up to $100.

The popularity of Florida's new format among horse owners led to calls for it or something similar to be adopted in other states as well, and as the 20th Century neared its end many states had indeed followed Florida's example, although the specific percentages varied somewhat from one state to the next. New York State long resisted this trend, although in 1971 that state had reduced the winner's share from 65% to 60%, awarding 22% to second, 12% to third and 6% to fourth. Finally, in December 1994 the New York Racing Association included horses finishing fifth in its purse awards for the first time (changing to the 60-20-11-6-3 format referred to above) and in December 2003 expanded its purse awards to all finishers, allocating the same 60% to the winner, but 20% to second, 10% to third, 5% to fourth, 3% to fifth and the remaining 2% to be divided equally among the other finishers. These percentages change to 55-20-12-6-4-3 with the opening of the Saratoga meeting on July 20, 2018.^[1]

Current practice[edit]

In some racing jurisdictions, a 'starter's bonus' is paid to horses not among the top finishers in a race; this bonus is added to the stated value of the purse, and therefore nothing needs to be subtracted from the top shares to provide it. California uses this approach, paying a starter's bonus of $400 to each horse placed worse than fifth at its Los Angeles-area tracks and $300 at the tracks located in the northern part of the state. Such bonuses are also the rule in Delaware, Pennsylvania, and Texas.

Of the 33 American states that conducted thoroughbred racing in 2014, for example, purse money was paid to all horses in 20 of them, while 10 did not do so (with eight of these paying the first five finishers), and in the remaining three states some of the state's racetracks awarded money to every horse and others did not. Various schemes were employed in Canada, with Woodbine Racetrack, the nation's largest and most prestigious racetrack, paying starter's bonuses to all horses not among the first five to finish (later the first eight in stakes races).

Starting in 2005 the Kentucky Derby included the fifth-place finisher in its purse distribution; from 1915 through 2004 only the first four finishers (and only the first three in most years prior to 1915) in the Derby received purse money.^[2] In 2014 the New York Racing Association began paying out purse money to the first eight finishers not only in the Belmont Stakes but also in many other major stakes races.^[3] The Breeders' Cup made a change along these lines in 2016, increasing the number of purse-earning runners from five to eight, the sixth-, seventh-, and eighth-place finishers each receiving 1% of the purse.^[4]

Australia has also adopted American-style innovations in dividing its purses in thoroughbred horse races, paying the top eight finishers at some tracks and even ten at others, with the awards for 6th through 8th (or 6th through 10th) the same regardless of the actual placing within that segment — sometimes 1% each, other times a fixed dollar amount. In the Melbourne Cup, each horse placing 6th through 10th receives approximately 2% of the total purse. In addition, virtually all Australian thoroughbred tracks pay out a starter's bonus — known in that country as a 'Starter Subsidy' — to horses which do not finish in the top eight or ten (or the top four or five at tracks which do not pay regular purse money further down than those places).

The practice of paying at least some purse money to unplaced horses has not yet spread to European racing jurisdictions, however.

Bonuses and added money[edit]

Currently, most North American purses are shown as a lump sum of guaranteed money: for example, the purse of the Kentucky Derby was increased to $3,000,000 guaranteed in 2019.^[5] The purse distribution is typically applied to this guaranteed amount. However, some purses may include a bonus, for example for state-bred winners, which is only payable to horses that meet the bonus condition. If the condition is not met, the total amount paid out may be lower than the stated purse.^[6] Alternately, a bonus may be shown as an addition to the purse. For example, in the 2004 Kentucky Derby, Smarty Jones earned a $5 million bonus on top of his share of the regular purse distribution, resulting in what was then a record winnings of $5.8 million.^[7]

In the case of the Breeders' Cup, the current purse structure includes an 8% travel allowance, which covers travel expenses for out-of-state competitors that have won a designated Breeders' Cup Challenge race earlier in the year. Thus the value of the race is 92% of the purse.^[8]

Added money refers to situations where the value of the race is increased by some or all of the entry fees. This includes nomination fees, which are required in advance of the event, and starter fees, which are payable at the time the event is held. All such added money is paid to the winning horse's owner in addition to the regular purse distribution. In the past, added money was a more significant portion of the winnings of major races, and increased the disparity between the amounts paid to the first place horse and the second. To illustrate the impact, the Kentucky Derby's purse was changed from an added money basis to a guaranteed basis in 1996. Churchill Downs paid some added money on top of the guaranteed amount in 1996 due to a large field, but not in 1997. The result was as follows:

What Does Win Place And Show Mean In Horse Racing Entries

References[edit]

1. ^https://www.nyra.com/saratoga/news/increased-purses,-new-purse-distribution-announced-for-2018-saratoga-meet
2. ^https://www.bloodhorse.com/horse-racing/articles/172413/churchill-2-million-derby-purse-magic-number
3. ^https://www.paulickreport.com/news/the-biz/nyra-increases-belmont-stakes-purse-to-1-5-million/
4. ^http://www.santaanita.com/press-releases/breeders-cup-classic-purse-raised-to-6-million/#.W0fzneXPzIU
5. ^'Kentucky Derby Purse Raised to $3 Million'. www.americasbestracing.net. Retrieved 10 June 2020.
6. ^'Chart of the 2020 Tampa Bay Derby'. www.equibase.com. Retrieved 10 June 2020.
7. ^'ESPN.com - Triple Crown 2004 - Smarty Jones earns largest payoff ever for race win'. www.espn.com. Retrieved 10 June 2020.
8. ^'How It Works Breeders' Cup'. www.breederscup.com. Retrieved 10 June 2020.
9. ^'Chart of the 1995 Kentucky Derby'. www.equibase.com. Retrieved 10 June 2020.
10. ^'Chart of the 1996 Kentucky Derby'. www.equibase.com. Retrieved 10 June 2020.
11. ^'Chart of the 1997 Kentucky Derby'. www.equibase.com. Retrieved 10 June 2020.

What Does Win Place And Show Mean In Horse Racing Scratches