Place payouts are determined based on the field size.
In Horse Racing, this is the number of runners in a race.
- Where there are 8 or more runners in a race, a place is paid on first, second and third places.
- Where there are 7, 6 or 5 runners in a race, a place is paid on first and second places only. This will be shown in the race result as No Third Dividend.
- Where there are less than 5 runners in a race, punters will receive a payout for first place only. Place betting is not permitted.
- After more information on racing rules? Check out our full racing rules here.
Events like Golf and Cycling that offer each-way odds also have Place Payouts.These events will specify at the bottom of the market the number of places that will be paid out and at which odds. The example below shows Each Way Terms of 5 Places at 1/4 odds for the Australian PGA Championship.