When placing a wheel bet, the horse whose position specifically is named is called the “key.” While the other horse or horses can finish in any particular order to cash a winning ticket, the key horse must finish in that exact spot. If the bettor wagered that the horse specifically would take second or third but that horse wins, the ticket is a loser. The key horse must finish in the exact spot wagered for the ticket to be good. The other horse can finish in either of the available positions for the ticket to win. So if the key horse is selected to finish third and one other horse is bet to finish in the money, it could win or place and still leave the bettor with a winning ticket.
