Show points but no winnings?

Hello all!  So, I have one stallion who's pretty awesome when it comes to show points.  He's even placed in the top of the Quarter Horses at the moment.  However, he has absolutely no winnings for this month despite the amount of points earned and hasn't placed in any shows.  I'm confused as to how he can earn so many show points while not earning any cash or placing?  Also, do show points even really do anything for horses other than look cool?

Thanks!

The Stallion in question

Hello! Points are separate from the Money earnings so it's entirely possible for your horse to have no earnings but a good amount of points (For example, Calligan is the same right now since he's at the bottom of the stat range in his grade, He's not winning but consistently placing high enough to get a good amount of points).
You can only earn money if your horse places in the top three, but you still get points, and member EXP, no matter what placing your horse gets in the show. To my understanding it's scaled the same way money is, where the more entries in the show and the higher your horses places the more Points and EXP you get.

As to the purpose of points, right now it seems mostly cosmetic since the introduction of member EXP being the way to advance and unlock features, but I personally think of points as a sort of status symbol type thing, that shows how successful you are at consistently showing your horses. Earned money would fall more into producing successful show horses, but I think the points show the dedication more since the money only counts the top 3 placings. 

Thank you!  I wasn't aware that they earned points for placing outside of first second and third.

Maybe a horses points could someday give it certain 'skills' such as 1-5% extra earnings or something like that?