There are few more popular sports to bet on than horse racing. The sport is most popular around the time of the biggest meetings on the calendar, with record numbers of bets typically wagered on events such as the Kentucky Derby, Belmont Stakes and Breeders’ Cup.
A wealth of betting markets are available when it comes to making selections on horse racing, making it straightforward to make selections when you’re at the racetrack.
However, a prominent betting selection for many novices can be found the form of the place betting option. You can find out more about finding winners in this market and how you can improve your returns when making selections here.
What Is A Place Bet?
A place bet is slightly different to the popular win option in the market, as it offers a layer of insurance to the bettor. That comes in the form that the selection covers off the prospect of the horse finishing second, as well as first. Therefore, a bet on this market will return funds regardless of whether your selection comes second or first.
It is worth mentioning that a place bet in other countries could vary, as in the U.S. it only covers the first two runners, while in the United Kingdom, this market can cover at least the first three, and potentially more in races with bigger fields. However, the general principle remains the same, as the selected runner must finish in the desired places to gain returns.
Find more information here: https://www.twinspires.com/edge/racing/betting-info/horse-racing/place-bet/
Is It Valuable?
Place betting is a popular option among both experienced and novice bettors, as it considerably improves the chances of getting returns on your selection. However, how valuable it can be for bettors is typically determined by the selection that you make.
For example, if a horse is 9/4 favorite in a win market, then their odds in the place market will be considerably short. Therefore, you could expect to find odds of around 1/3 for the same selection to finish in the first two positions. The place betting market is most popular with bettors that are looking at runners at slightly bigger prices.
Therefore, a runner in the outright win market could be priced up at 13/2 but the same selection may be a 9/4 chance to finish in the top two places. It could be a safer option to back an outside chance in this market, as it reduces the risk of losing your stake should the outsider finish second in the race.
What To Consider Before Making A Place Bet
Place bets can be hugely popular among bettors, as it reduces the chances of picking a losing selection. The added insurance of covering at least the first two places means that you can also get excited about your selection even if the favorite is miles ahead of the field, as you will only need a second-place finish to get returns on your selection.
One of the biggest factors to consider when making wagers on this market is the fact that it is rarely used by experienced punters to back a favorite. Instead, it is a popular alternative to take on the market leader in the betting. Therefore, you could still win returns should the market prove to be correct, but you could still pick up returns should your hunch turn out to be true and the selection was the most likely danger in the betting.
Researching Place Bets
The research process is as important when making a place bet as it is when examining the most likely winner of a race. Therefore, you should assess all the possible data before nailing down on one selection. This includes assessing the form in the book, which means looking at each horses recent runs on track, and whether they have a winning or losing record over the distance that they are competing over.
It is also vitally important to consider whether the horse has a fitness advantage over their rivals, with horses that have competed in the last 35 days typically proving their fitness on the track. Ratings are also an exceptionally important factor to consider, with runners that have lofty rankings proving their quality over an extended period of time. Other factors worth considering include jockey and trainer form, and the conditions in which runners often run their best race on track.
Other Sports That Offer Place Betting
Place betting is popular across a number of other different sports, especially those that draw a high number of potential selections. One of the most popular is golf, which enables bettors to place a bet on a player to finish in the top ten or 15 in a certain event.
Bets can also be placed on this market in soccer, with bettors able to wager on sides to finish in the top four in competitions such as the Premier League, Bundesliga, and La Liga.
