The bet is made up of two components: the’Win’ and also the’Place’. Every part of the bet has to be an equal bet, e.g. a #5 each way bet will probably have #5 to the’Win’ and #5 to the’Position’ making a total of #10.
The’Win’ part of your wager is on your horse to finish first, and also the’Place’ part is in your horse to finish either first or in a few of the places, e.g. 2nd, 3rd, 4th (5th or 6th with chosen bookmakers).
If your horse comes home first (wins), the’Win’ and’Place’ portions of your wager will pay out. But if your horse only places, you’ll shed the’Win’ section of your wager but you’ll still accumulate on the’Place’ 2nd, 3rd, 4th and 5th or 6th*.
The amount won depends upon number of factors. Most of all, was the race won by your horse or was he simply put? And what?
Let’s assume that your horse wins (1st) in 50/1 and you have endorsed him for #10 every way. The #5’win’ part of your bet pays out #250 (#5??50/1) plus the original #5’win’ stake is returned, providing you with #255, you’ll also receive paid on the’place’ portion of the bet also! Bookmakers will only pay out 1/4 of their quoted odds on’location’ part of the bet. The #5’place’ part of your wager overlooks #67.50. Worked out just like this — a quarter of 50/1 is 12.5/1, #5@12.5/1 = #62.50 along with your original #5 stake is returned, providing you #67.50. Add it to the #255’win’ part and you’ve got #322.50 in winnings.
Now let’s assume your horse came third, keep in mind that it does not make any difference to the payout if your horse finishes 2nd, 3rd or even 4th. As your horse didn’t win, you lose the’win’ part of the bet and #5. But you collect #67.50 on the’place’ portion of the wager. Worked out just like this — a quarter of 50/1 is 12.5/1, #5@12.5/1 = #62.50 and your initial #5 bet is returned, giving you #67.50.

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