These bets are nothing more than double bets or “sure bets” (not to be confused with surebets). Basically, by activating this option we are covering our backs. By placing a winner and placed bet on horses, we will be betting on a winning animal, but at the same time, we will be betting that it will be among the first positions.
You heard it right, if you see the G/C option when betting on horse racing, you can make this type of double bet. You will be able to predict that a horse wins, but at the same time, that it finishes in the top positions, usually between second and third. In practice, it will be like placing two bets at the same time.
Winning and placed odds on horses: How they work
To calculate the odds on the winner and placed bets on horses we need to know what the placed odds are on the table, which will normally be between 1/3 and 1/5. From there, a formula is applied, which you will normally find already implemented when placing the bet automatically but which works like this: Subtract 1 from the original odds, divide by the placed odds, and add 1:
- A horse wins at $4.70 per $1 bet and the placed odds are 1/3
- Place odds= 4,70-1= 3,70/3=1,85+1=2,85$.
- If the horse wins, we pay $2 (double bet) and get $4,70
- If he places, we get $2.85.
As we have seen in the previous example, the way the horse bets to win and place is very simple. Double bet and if the less likely prediction (winner) comes out, we get a lot and if the more likely one comes out, we get a lot. The logic is similar to the patented system in combined football betting: we sacrifice some profit, but we have an insurance. In the above case, with a single bet on a winner we would get $4.70 for only $1, but if we lose, nothing.
When to place win/place bets on horses
Knowing how the winner and place bets work already gives us a very clear clue on how to use them. The ideal is to use them as a resource to have insurance in the following situations:
- It is a high odds: In this case, it is unlikely, but we want to play it. Therefore, we will be able to aspire to that coveted quota but safeguarded in the placed one.
- There is little competition: If there are only two powerful horses, it will be much juicier to use this resource than if there are 5 or 6.
When not to use this resource? If the horse we want to bet on is a clear favourite and has a very low odds, it would not make much sense. What if it is very clear that he will win but the odds are high? In this case, check your prediction carefully, but it could be worth taking the risk.
As a general rule, you will be looking for the position to include not only the highest odds, but also as many positions as possible. At the same time, we want the fraction to be as high as possible, as it will be in our best interest.
Only on horses?
This type of betting is not only available on horse races. In all those where there is classification as greyhounds, motor or sometimes the classification of sports competitions we can find it. In the latter case it is less frequent, and where they are most popular is in horse racing.
Winner-placed bets on horses are, yes, a source of annoyance by action or omission, and at the same time, a “less bad”. They are unglamorous, but effective in the long run. They are not the ones that will make your numbers skyrocket, they are the ones that will prevent you from making losses (gains on the balance sheet, that is). Sometimes, you will regret not having put them in, and at other times you will think “I could have made even more”.