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Place Bet

general

A bet in horse racing where the selected horse must finish in either first or second place. It offers a lower payout than a win bet but has a higher chance of success.

Key Takeaways

  • 1A bet in horse racing where the selected horse must finish in either first or second place. It offer

Place Bet

A bet in horse racing where the selected horse must finish in either first or second place. It offers a lower payout than a win bet but has a higher chance of success.

Example

The cautious bettor made a place bet on the favorite, feeling confident it would finish in the top two.

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Expected Value + Kelly Criterion + Monte Carlo — the same math from MIT and Bell Labs.