When a horse has been placed, it means it has not won the race, but has finished in second or third place. In some races where there are a lot of runners, such as the Grand National, a horse can be successfully placed as high as seventh or eighth, depending on the promotion a bookmaker is offering.
What does placed betting mean in horse racing?
In horse racing, a “place” bet is a type of wager where you bet that a specific horse will finish in either first or second place. If the horse you bet on finishes the race in either of these positions, you win the bet. The exact payout for a place bet depends on the odds offered for the horse you bet on and the amount of money wagered on that horse to place.
Place bets offer a slightly higher chance of winning compared to “win” bets (where you bet on a horse to finish first), but the payouts are generally lower because the bet covers two possible outcomes (first or second place).
It’s important to note that the specific rules and payouts for place bets can vary based on the race track and the type of bet you place. Always check the rules and odds provided by the race track or the betting facility where you are placing your bet.