How does a win-only bet differ from a place-only bet?
A win-only bet returns money only if your horse finishes first; stake times the quoted odds is paid back when the horse wins. A place-only bet pays if the horse finishes in one of the designated placed positions (second, third, etc.) and returns a smaller payout because it covers finishing positions other than first [jc-jargon] [jc-glossary].
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Updated
Sources
- The Jockey Club: Get Past the Jargon — accessed
- The Jockey Club: Racing Explained Glossary — accessed