Definition of place bet in English:

place bet

noun

  • 1(in the UK) a bet on a horse to win a place in a race, usually first, second, or third.

    • ‘Professionals don't completely eschew the standard win and place bet, but their focus is overwhelmingly on the exotic bets, especially trifectas.’
    • ‘A race must have five runners or more for you to be able to make a place bet.’
    1. 1.1 (in the US) a bet on a horse to come first or second.
      • ‘It stands to reason that the most famous place bet in the world was a subject of some confusion in the great motion picture, "The Sting."’
      • ‘It was a fine day at a lovely little track, a day only slightly marred by the fact that I didn't cash once, not even one teensy little place bet to give me a momentary feeling of winnerness.’