place betting

You’ll hear a range of opinions on place betting. There are some advocates of it. Many others have little time for it… and maybe some unkind words for those who engage in it!

We’re all about winning money on the punt so there’s only one question about place betting that matters: Will it help us win more money?

Win only or each way?

If you look at a bet as an investment, then first take the total amount you’re willing to outlay.

The question then is whether you invest your stake entirely on a win, or whether you take a portion of it and stake that on the place instead.

You’ll get more collects if you do the latter, of course, but the returns will be a lot less than betting to win.

So is the trade-off worth it?

Focus on value

To answer that question properly, we need to look at it through the over-arching principle of all successful betting: long-term value.

Let’s say you have $100 to invest on your horse. You could have the whole $100 on the win, the whole $100 on the place, $50 each way… or (for example) $20 to win and $80 to place, or any other combination.

The key thing to remember is that if you stake for both a win and a place, you’re having two bets. The two bets will each have a different expected value (EV).

In any successful betting strategy, you should always take the option that offers superior EV – or in more relatable terms, superior PoT (profit on turnover).

If you focus all of your resources (your bankroll) on the strategy with the greatest EV, or PoT, then you’ll be better off in the end than any other strategy.

So the question becomes: Can a place betting strategy present a greater EV than win betting?

The price problem with place betting

The answer to that question lies in the return you get, which is reflected in the price.

While it depends on the price you’re able to obtain on each individual bet, overwhelmingly you’ll find that place betting prices offered by bookies simply don’t measure up.

We asked a few of the Champion Bets pros why they’re not regular place bettors, and the response was universally about price.

The returns you get make it impossible to match the PoT offered by win betting.

This hasn’t always been the case. In the “good old days” (whenever that was!) bookmakers generally offered each-way dividends at 25% of the win dividend.

If you have a look these days, invariably that figure is lower. It can hover a bit, but place dividends these days are closer to 20% of the win dividend… or even lower.

This shift has really taken a lot of the value out of place betting.

The pro’s view on place betting

Melbourne racing analyst Trevor Lawson isn’t keen on place betting either.

“I have a real focus on protecting and maintaining my bankroll: in simple terms, my aim is always to get the highest possible return for the lowest outlay,” he said.

“I just can’t achieve that with place betting. The outlay I need to have for a decent dollar return is simply too great and it goes against my instincts to protect my bankroll.”

We said that place betting is really a separate bet to a win bet… if Trevor is having separate bets, he’s far more interested in backing multiple horses at value for the win, taking advantage of superior value available in the win market.

Again, that’s what all successful betting comes down to: value!

Punt like a pro with Trevor Lawson’s Melbourne Ratings.

As well as a full set of rated prices, speed maps and suggested bets, you can spend each and every raceday with a pro punter: the Melbourne Ratings Live Page gives you direct access to Trev himself to ask whatever you like.

If you're keen to win, it’s the only way to punt.

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