place bet

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a bet that a horse will finish a race no worse than second

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In the case of place betting, they are way too high at 24 per cent, a gargantuan figure which basically makes Tote place betting as appealing as wearing a tramp's underpants.
And turnover on place betting would surely do the same if the deduction was reduced so that dividends started to bear some resemblance to what one could normally get from the place part of a conventional fixed-odds punt.
Under official place betting terms, once the number of entries drops below 16, layers are only obliged to pay out on the first three places.
Over the last two years, the total of win bets has surged by more than a quarter, while place betting has outperformed every other sector with a remarkable increase of two-thirds.