- A Place Only bet involves backing a specific horse to secure a top position in the race — typically first, second, or third place.
What Is A Place Only Bet?
A Place bet in horse racing involves selecting a specific horse to finish within the “places”, typically the first three positions in the race. Assuming there are three places, if your chosen horse finishes first, second, or third, you win your bet; however, if it finishes third or worse, you lose.
Some bettors choose Place bets to boost their chances of winning without fully committing to a win bet. However, the trade-off for this increased likelihood of success is lower payouts compared to win bets.
Keep in mind that the number of places paid out can differ based on the race and track, so it’s essential to review the regulations and payouts beforehand.
Example
Consider a horse race featuring 10 contenders with 3 available places. You assess that Horse A stands a solid chance of securing one of the top three spots, but you’re not confident enough to back it for a win. Instead, you opt for a £10 Place bet on Horse A with odds of 1.5.
Should Horse A clinch first, second, or third place, your bet succeeds, yielding a £15 payout (£10 stake plus £5 profit). However, if Horse A finishes outside these positions, your stake is lost.
Where to Make Place Only Bets
Unlike numerous bookmakers, betting exchanges enable bettors to place bets exclusively on a horse to finish within the designated places, without requiring an each-way bet.
Here’s the sites I recommend for making Place only bets.
What To Look For In A Place Only Bet
Here are my recommendations for what bettors should prioritise when considering Place only bets:
Track & Distance
Assess the horse’s track record on the current course and distance. Some horses excel on particular surfaces or over specific distances, so analysing past performances becomes crucial to gauge their potential performance in the upcoming race.
Recent Form
Examine the horse’s recent performances and form to determine if it has consistently finished in the top positions in its previous races, as this can be an indication of the horse’s current fitness and ability to place in the current race.
Value Odds
Take into account the odds offered for a place bet on each horse. These odds reflect the perceived probability of the horse finishing among the top positions. Look for horses with favourable odds that offer a reasonable payout relative to the level of risk involved.
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