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The King's Plate explained: odds, bets and race facts
Turn King's Plate morning line or tote odds into a chance in the explainer below. Then check the race facts, the bets and how much Woodbine keeps from the main bet types.
The King's Plate: one mile & one quarter on the all-weather track at Woodbine, for Canadian-foaled three-year-olds. Next run: Saturday, August 14, 2027.
Share kept from the win pool
Win pool at Woodbine (live racing): 11.65% association share + 2% horsepeople + 0.5% Ontario + 0.8% federal = 14.95% in all.
Money bet to win on each horse
Blue: paid back to winners. Grey: deducted before anyone is paid.
| Horse | Bet on it | Share | Tote odds | Pays on $2 |
|---|---|---|---|---|
| Horse 1 | $300,000 | 30.0% | 1.8–1 | $5.67 |
| Horse 2 | $200,000 | 20.0% | 3.3–1 | $8.51 |
| Horse 3 | $150,000 | 15.0% | 4.7–1 | $11.34 |
| Horse 4 | $120,000 | 12.0% | 6.1–1 | $14.18 |
| Horse 5 | $90,000 | 9.0% | 8.5–1 | $18.90 |
| Horse 6 | $70,000 | 7.0% | 11–1 | $24.30 |
| Horse 7 | $45,000 | 4.5% | 18–1 | $37.80 |
| Horse 8 | $25,000 | 2.5% | 33–1 | $68.04 |
The favourite (horse 1) carries 30% of the pool: if it wins, every $2 ticket on it gets $5.67. Prices move until the gates open, because every new bet changes the shares.
How a pari-mutuel pool pays
All win bets go into one pool. First the legal percentages come off: the association's percentage; the deduction from each dollar bet authorized under a provincial enactment; the payment to the Receiver General, determined in accordance with subsection 204(4) of the Act. What is left is the net pool.
Pays per $1 = net pool ÷ money bet on the winner (net pool divided by the value of win bets on the winner). Pays on $2 = twice that. Tote odds “X–1” = pays per $1 minus the dollar staked.
Place and show pools work the same way, except the net pool first returns the stakes on the 2 or 3 placed horses and then splits the rest between them.
Deductions at Woodbine by pool
| Pool | Association | Other | Total |
|---|---|---|---|
| Win | 11.65% | 3.3% | 14.95% |
| Place and show | 13.65% | 3.3% | 16.95% |
| Exacta | 17.2% | 3.3% | 20.5% |
| Trifecta | 19.7% | 5.3% | 25% |
Source: woodbine.com, laws-lois.justice.gc.ca, woodbine.com (checked Oct 27, 2026).
King's Plate at a glance
Distance
One Mile & One QuarterThe race distance Woodbine lists for the Plate at Woodbine Racetrack in Toronto.
Surface
All-Weather SurfaceThe track type Woodbine lists for the race.
Purse
$1,000,000The prize money Woodbine lists for the race.
Who can run
Foaled in Canada Three-Year-Olds (scale weight)Eligibility as Woodbine states it in the stakes schedule.
Triple Crown
First legThe Plate is the first leg of the Canadian Triple Crown. The Prince of Wales Stakes at Fort Erie and the Breeders' Stakes at Woodbine follow.
Latest winner
LusterWon the running on Saturday, August 15, 2026. Post time was 6:12 P.M. ET.
Next running
Saturday, August 14, 2027The date Woodbine has announced for the next King's Plate.
From price to chance
Chance = 1 ÷ decimal odds. Fair chance = chance ÷ sum of all chances in the field.
Example: For example, +250 = 28.6%. In this sample field of 8 prices, not a real Plate field, chances add to 106.4%: fair chance 26.8%.
Bets and Woodbine takeout
| Bet | What you need | Woodbine takeout |
|---|---|---|
| Win | Your horse finishes first | 11.65% |
| Place | Your horse finishes first or second | 13.65% |
| Show | Your horse finishes first, second or third | 13.65% |
| Exacta | First and second in exact order | 17.20% |
| Trifecta | First, second and third in exact order | 19.70% |
| Pick 4 / Pick 5 | The winner of every race in the sequence | 21.70% |
| Stakes Pick 3 with the Plate | The winner of each leg, including the Plate | 15% |
| Double and Hi5 pools | Woodbine lists these with their own rate | Separate rate, below the all-other rate |
| Other pools not named by Woodbine | All other pools | 23.00% |
Rates for bets at Woodbine's own licensed sites. US pools have a separate minimum total takeout. Woodbine also lists deductions for horsepeople and governments. More in bet types.
Tote odds vs fixed odds
Tote (pari-mutuel) odds
- All bets of one type go into one pool
- Takeout comes off the pool first
- The morning line is only a forecast
- The price moves with every bet
- Your final price is set when betting closes
Fixed odds (where offered)
- The price is locked when you bet
- The margin is built into each price
- For example, a sample field of 8 prices (not the real Plate) adds to 106.4%
- That extra 6.4% is the margin
- Compare formats with the odds converter
Sources
- woodbine.com /kingsplate/race-information · checked Oct 27, 2026
- woodbine.com /events/kings-plate · checked Oct 27, 2026
- woodbine.com /stakes-schedule · checked Oct 27, 2026
- woodbine.com /rules-regulations · checked Oct 27, 2026
- laws-lois.justice.gc.ca /eng/acts/c-46/section-204.html · checked Oct 27, 2026
Questions
How are King's Plate odds set at the track?
Track odds are pari-mutuel. They come from how much money is in each pool after takeout. The morning line is a forecast; the final price is fixed when betting closes.
Who can run in the King's Plate?
Woodbine lists the race for Foaled in Canada Three-Year-Olds (scale weight). It is the first leg of the Canadian Triple Crown.
When is the next King's Plate?
Woodbine has announced the next running for Saturday, August 14, 2027. Check the official Woodbine site for post time closer to the date.
Who won the latest King's Plate?
Luster won on Saturday, August 15, 2026. The jockey was John Velazquez and the trainer was Josie Carroll.
How much does a trifecta box cost?
For example, a four-horse trifecta box (24 combinations) at $1 each costs $24.00. The box calculator counts combinations and cost for you.