Place Betting

This betting option focuses on selecting a horse to finish in a placing position, rather than winning outright. The rules and payout structures differ slightly based on the number of runners in the field.

Fixed Odds Place Betting

This option operates similarly to Fixed Odds (FO) for a win but pays out if the selected horse finishes in a placing position. The placing rules are as follows:

• Fields with 8 or more runners: Pays on the first three horses.
• Fields with 5 to 7 runners: Pays on the first two horses; no third-place dividend is offered.
• Fields with fewer than 5 runners: Place betting is generally unavailable through many Australian bookmakers.

More Places Betting (Up To 10th Place)

A more recent development in racing place betting has been the emergence of the ability to bet on runners to finish up to top 10 in some races. Bet365 was the first bookmaker to offer up to 5 places in most races, Picklebet came on the scene and started to do it up to 4 places, then more recently Sportsbet started to offer it in most races including up to 10 places in the 2024 Melbourne Cup. This betting option allows you to secure a collect if you feel that your runner might just miss a place. Typically, more places betting only applies to horse racing.

Top Tote Place Betting

This option provides the highest place payout among the three major Australian tote pools, ensuring punters receive the most favorable return available. This option is not commonly seen for place betting.