Placed (general terms)
Refers to a selection coming second, third or fourth in an
event. The positions which are considered to be placed depends
on the size of the field (e.g. in a race with only 5-7 participants,
only second and third count as placed). The odds for bets on
selections being placed is usually calculated as a fraction
of the odds to win (e.g. in the race referred to above, second
and third get odds at a quarter of the winning price)
