Your runner(s) must finish 1st, 2nd, 3rd in a race (depending on the number of runners in the race) to win the Place bet.
Note: for Australian and New Zealand racing, if there are 5-7 horses in a race Place pay 1st and 2nd only, if there are less than 5 runners no Place betting is offered.
You place a $10 Place bet (total stake $10) at Place odds of 4.00, your runner finishes 3rd in the race.
Calculate your Place return
Return = Stake x Odds
Win (Profit) = (Stake x Odds) less Stake
Total amount bet (stake): $100
Return: $400 (Stake $100 x 4)
Place (Profit): $300 (stake $100 x 4 less stake of $100)
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