1(in the UK) a bet on a horse to win a place in a race, usually first, second, or third.
Example sentencesExamples
Professionals don't completely eschew the standard win and place bet, but their focus is overwhelmingly on the exotic bets, especially trifectas.
A race must have five runners or more for you to be able to make a place bet.
Synonyms
wager, stake, gamble, ante
1.1(in the US) a bet on a horse to come first or second.
Example sentencesExamples
It stands to reason that the most famous place bet in the world was a subject of some confusion in the great motion picture, "The Sting."
It was a fine day at a lovely little track, a day only slightly marred by the fact that I didn't cash once, not even one teensy little place bet to give me a momentary feeling of winnerness.
Derivatives
place betting
noun
Virtually risk-free laying means that bookmakers are enjoying too big a share of the cake and gobbling it down, and punters are not happy about having to rely on a few brave bookies and the Tote for place betting.
Example sentencesExamples
But while the payoffs are lower for place bets, there are certain situations in which place betting can be lucrative.
If we go back to the Racing Act of 1971, section 38 talks about win betting, place betting, double betting, and so on.
Ensure that you seek out the best value from your bookmaker here as many firms will be offering place betting on five or even six places.