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.

    • ‘A race must have five runners or more for you to be able to make a place bet.’
    • ‘Professionals don't completely eschew the standard win and place bet, but their focus is overwhelmingly on the exotic bets, especially trifectas.’
    wager, stake, gamble, ante
    View synonyms
    1. 1.1 (in the US) a bet on a horse to come first or second.
      • ‘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.’
      • ‘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."’