Win-Place-Show Bets Betting online horse racing can be fun and easy. There are several different wagers provided each race, but these are the three most basic: The first is that a”win” bet. Betting a horse to win is just as fun as it sounds — the horse has to win the race order for one to win the wager. Next, is a”location” wager. This is betting on a horse to finish in the top 2.