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Place Bets

 

 

Although this type of sportsbook is usually associated with horse racing, it has become popular for many other sports categories as well. Generally, this type of bet is used for placing wagers on the first three places of a race. In case the selected contestant ranks among the top three, the bet will be won.

However, especially with regards to horse racing, bettors must be aware of certain special regulations. For example, most bookmakers apply the rule that a third place of a contestant only qualifies for a payout if the total number of starters was seven or more. If this requirement isn't met, then the contestant that was chosen by the bettor must at least rank 2nd or better.

In case the total number of starters is even bigger, some bookmakers adapt their regulations to the extent that the first four finishers might qualify for a payout. Nevertheless, bettors are well advised to check out the specific terms and conditions of their respective bookmaker to prevent ill-informed decision making.

Place bets for other sports categories

As was mentioned before, this type of sportsbook has its origin in horse racing. Today, however, it is available for many other sports categories as well, such as Formula 1, skiing, or for the Olympic Games.

Especially for soccer competitions, placement bets provide an extensive supply of betting options with regards to national championships, international competitions and the like.  

Compared to conventional sportsbooks like straight bets, place bets are extremely popular because of their simplicity and high winning prospects. Especially novices in the area of sports betting like to resort to this option, although the potential figure obviously is lower than for other, more risky alternatives of sports betting.