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The total cost of placing a bet on each horse can quickly exceed any potential winnings. Payout: Even if you bet on all the horses and one of them wins, the payout may not cover the total amount you spent on bets for all the horses. In some cases, you may end up losing money overall.

Why can't you just bet on all the horses in a race? - Quora

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If one win bet isR$10, for across the board wager, you usually have to cover the cost of all three bets, and you will have to pay at leastR$30.

Win Place and Show Betting Explained - Wizard Race and Sports

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