What Does Place Mean in Horse Racing?

When placing free bets or traditional sports bets on horse races, you might see the option to choose a ‘place’ bet, which can be quite confusing if you do not know what a place bet is. Here at Racing TV, we are going to go through what a place bet is, how they can be used and how they differ from other forms of betting.

In the sport of horse racing, a ‘Place’ is a type of bet, and a place bet is a wager for a horse to finish within a predetermined number of positions, but not necessarily to win. Place bets are incredibly popular, as they allow for the horse to finish in one of multiple positions and a return to be made, instead of the horse having to win the race for a return. Depending on the races and racecards, this means a couple of the top positions will pay out if the chosen horse finishes in these.

The number of horses that count as ‘placed’ depends on several factors, which include:

Here is a helpful, general guide on what is typically used as the place positions:

Sometimes, bookmakers will offer extra place offers for major events and races, with places such as 5th, 6th, and 7th being available for additional payouts.

Example of a Place bet:

To help with the understanding, we will go through how a place bet might work, so if you see any horse racing tips suggesting you place a horse, you will know how to do it!

Let’s say you bet:

The bet would be successful in this case, as the horse has finished inside the place positions. With the odds being 1/5, the return would be £12. As the return is not too high, place bets are usually placed alongside win bets, which is known as an each-way bet.

An each-way bet is basically two bets in one:

So if you place a £10 each-way bet (£20 total stake), it breaks down like this:

If your horse finishes 2nd or 3rd, you lose the win part, but you still win the place part, giving you a return even without a win.

Outside of betting, "place" is also used to describe a horse’s actual finishing position in a race, usually meaning 2nd or 3rd place.

You’ll often hear people say things like:

In this context, it simply means the horse finished near the top, even if it didn’t win.

In big-field races, some reports will refer to the top 4 or 5 finishers as ‘placed’ horses, especially if they received prize money.

Place bets have a special and unique place in horse racing betting, as they are used for backing horses with solid form, yet are not winning material, or for beginners getting started with understanding horse racing. Whilst place bets do not offer high odds, understanding when to use place bets can be a useful tool to have in your betting arsenal.

If you are looking to watch horse racing, then Racing TV is the best place to be, as we offer live coverage from races across the United Kingdom and Ireland. For upcoming action, horse racing enthusiasts can check out our available racecards, which are filled with all the information you would need to know about the events.