Of course a good handicapper can win more place bets in a hundred or a thousand than he could while betting. straight, and of course he can win more show bets than place bets. But his average prices on place bets and show bets that win will be so much lower than his average price on winning straight bets that after a year or two an analysis of the several hundred wagers almost certain ly will demonstrate two things, each leading to the same conclusion: (1) if money has been made over the period by betting place or show, more money would have been made by wagering the same amounts on identically the same horses, but to win only; (2) if money has been lost over the period by place or show betting, then less money ; would have been lost by wagering the same amounts on identically the same horses, but to win only. In other words, place and/or show betting, whether independently or in conjunction with win betting, is a style of play effec tive neither in minimizing losses nor in increasing profits.