Can any two of a thing ever be alike? Perhaps, but not when it comes to bets. There are many ways to place a bet, depending on the horse racing system. The three most commonly used ones are betting to show, betting to place, and betting to win. When you bet to show, you are playing the game at the safest, most cautious level. You are betting that your horse will finish first, second, or third. When you bet to place, you are, in effect, wagering that your horse will finish either first or second. When you bet to win, on the other hand, you are staking money on a horse. and you win when your horse finishes first. Logically, betting to win is the most difficult, and for this reason, it generates the best horse racing results, profit-wise. On average, betting to show payoffs are much lower than betting to win payoffs.

In European tracks, punters rarely bet to show or place because the number of payout places differ according to the number of race participants. To illustrate, in the UK, most bookmakers recognize only the first two finishers as winning bets when the race has seven runners or less. With eight runners or more, the places increase to three. Meanwhile, in a handicap race with 16 or more runners, the first four finishers are considered "placed." Clearly, in the UK, a place bet is considered a winner based on the number of horses in the running. In contrast, a place bet only pays off in the U.S if you pick out the horse that finishes second or third - regardless of how many competitors are in the running.

Assuredly, location plays a huge role in determining your win and how much you rake in. Remember this horse racing tip the next time you flop down cash on a horse. To maximize profit on each bet, factor in where you are and the betting rules that apply for this area. When you place an "Each-Way" bet, for instance, your pay-out depends on where you are betting from. In the U.S, you would see a pay-out only if your horse comes in first or second. Yet in the U.K and elsewhere in Europe, you would receive a pay-out if your horse wins or is "placed" in relation to the number of runners.

So, can any two of a thing be alike? Not ever - when it comes to bets. A show bet is a show bet; a place bet is a place bet; and to steal liberally from Rudyard Kipling, "ne'er the twain shall they meet."