If, for example, there are less than five runners, then a place only bet could mean that two of the five places would pay out, and so it's likely that no place only betting would be available for that race.Īnother important point to remember when considering a place only bet is that the term has a slightly different meaning in North America than it does in the UK. These scenarios are typically dictated by the number of horses or greyhounds running the race. In a win bet, however, the horse must win, otherwise there is no pay out.ĭue to the wider number of winning possibilities for the bettor, place bets may not be available in certain scenarios. Put simply, to win a place only bet, the horse needs to finish in one of multiple positions. This is because of the wider number of winning options available within a place only bet.
Place only bets usually pay out a smaller sum of money than other kinds of bets, for example win bets.
