To put it simply the place terms in a horse race depend on how many runners actually take part in the race (the number of horses under starters.
Race Winning Grandson of Corona Cartel. # Race Winning Grandson of Corona Cartel. 4 year old Quarter Horse in Bristol, IN. [Click here for more details].
The way fans bet on horse racing is called "pari-mutuel wagering". Betting to win, place and show (three separate bets) $2 across the board on Number 1 is.