Some wagering operators have minimum bets of $1 while others will allow even smaller wagers. Tote or Fixed Odds - selected for the wager. If you place a $5 Win bet on a horse you will receive 500% of whatever betting product - i.e. So for five units a punter would be required to outlay $5. The more units a punter takes, the more the bet will cost them. A punter can take as many units as they like, subject to the gambling agency being prepared to take on liability for the bet. The cost of a Win / Place bet is $1 for one full unit, i.e. If you have a Place bet on a race with five runners and a scratching(s) reduces the field to four (or fewer), your bet will then be refunded, subject to the rules of each bookmaker and the betting product (Tote or Fixed Odds) selected. If you have already put on a Place bet and then a scratching reduces the field size to seven or fewer, your bet will be subject to the rules applying to the reduced field size. For fields of four or fewer runners, there will be no place dividend paid out. For fields of seven or fewer runners, the place dividend is only paid out across 1st and 2nd. * The number of runners in the field will determine the amount of placings that will be paid out. If they are correct they will win a sum of money relevant to their investment and the betting product ( Fixed Odds or Tote betting).Ī Place bet is a bet type that requires you to select a horse that finishes in the placings, meaning either 1st, 2nd or 3rd*. Punters can also back a horse to Win AND Place, this is better known as an Each Way bet.Ī Win bet is a bet type that requires the punter to select the horse they believe will be first past the post.

All you need to do is keep an eye on your selection in running and hope they manage to win or place, in keeping with your bet. Of all the bet types available these are the two most simple to place they are also the easiest to follow and enjoy as a punter. Backing a horse to win or place is as simple - and for many, as good! - as punting gets.

What does 4 to 5 odds pay