One of the most popular of all horse race betting strategies is to bet on a horse either winning or being placed. The definition of being placed can vary, so the interpretation of this term needs to be clarified with the bookmaker before a bet is made. It normally depends on the race and the number of horses taking part. Usually, with a race consisting of eight or less runners, a horse is placed if it finishes first or second. With a larger race, with 10 or more participants, this is expanded so that the third finishing horse is also placed. Exceptionally, as for example in the case of the famous Grand National where fields of 40 horses are not unknown, the first four finishers are placed (and one famous bookmaker this year was offering odds up to the 5^th horse to cross the line).

A variation of these horse race betting strategies can be found in the US where the concept of win, place or show can be found. In this case “place” means that a horse finishes in the first two, whilst show allows for a horse coming first, second or third in a race.

Obviously, the amount that can be won varies with the type of bet. A bet on an outright win will offer the highest odds, but has the greater possibility of failing. Horses and jockeys are not machines, and illness, a loss of form, or unfavourable conditions can work against the hottest of favourites. With a place bet you have two, three, or even more chances to win so the pay-out will be lower.

What win and place horse racing tips are useful to learn? One consideration should be the length of the race. Generally, the superior horses perform better over long distances, so there is a good chance that a win, or a place by a favourite in such a race, will not offer good odds. For this reason, some experienced bettors favour shorter races where more can happen, and the odds are better. This, however, has an element of risk or chance to it, so this may not necessarily be a sound move to follow.

There are other win and place horse racing tips which can be followed. For example, another strategy is to bet against the favourite, which can be productive in the long run. However, this does not mean that we should just choose another horse randomly. Betting on a long shot to win may give us a healthy pay-out if they pass the winning post first, but there is a reason why they are a long shot, and that is because they have little chance of doing well. Instead, find a horse with reasonable form that runs well in the conditions, and on the ground, and, in the case of a handicap race is not carrying too much weight.

We could also consider placing two bets, one on the favourite to win or place, and the other (or lay) on another horse.

Like all horse race betting strategies, this will only work on a regular basis if we are prepared to research the race, the horse and the jockeys beforehand. We need to assess the odds of betting for, and against the favourite, and the potential pay-out from a win or place bet. Above all, we need to make a detailed record of what bets we have place, which succeeded and which failed, so we can learn to optimise our strategy in the future, and increase our chances of winning.