noun. 1. : a bet on a horse to finish no worse than second in a race. 2. : a bet that the shooter in a crap game will make his point or that a particular point will appear before a 7.
A Place bet is a bet type that requires you to select a horse to finish in the placings (1st, 2nd or 3rd). Your runner can finish either 1st, 2nd or 3rd for a winning resulted bet. The number of runners in the field will determine the amount of placings that will be paid out.