What is the difference between Place, Win and Win/Place bets?

Place, Win and Win/Place bets are different bet types in horse racing.

• Win: When you place a bet on a horse to win, your bet pays only if your horse finishes in first place.
• Place: When you place a bet on a horse to place, your horse needs to come in first, second or third place for you to win. The payout for placing is lower than the payout to win.
• Win/Place: A combination of a Win and Place bet. If your selection finishes first, both Win and Place bets pay a return. If your selection finishes in certain positions, the Place bet pays a return depending on the number of runners while your Win bet is lost.