There is a difference in how reduction factors work in "Place" markets compared to "Win" markets.

 

In "Win" markets, reduction factors are calculated to add up to 100% when all runners are added together. In a "Place" market, a single horse has less impact on your chance of winning, and the total reduction factors can exceed 200%.

 

The main difference between the two markets is that in a "Place" market the reduction factor is applied only to the potential winnings of the bet and not to the negotiated price.

 

Example:

• You placed a bet in the "Place" market on the horse 'Diamond Night' for R$10 @ 8.0.
• Your possible earnings would be: R$10 x (8.0 - 1) = R$70.
• A horse in the same race is withdrawn, with a reduction factor of 25%.

 

Your possible earnings now would be: R$70 x (100% - 25%) = R$70 x 75 / 100 = R$52.50.

Therefore, the reversed traded price would be 6.25.
(In the "Win" market, a 25% reduction factor would result in a price of 6.0.)

 

Other differences in "Place" markets:

 

• All reduction factors will be applied (including those of 2.5% or less).

 

Only if the reduction factor of a withdrawn horse is 4.0% or greater will all unmatched lay bets be cancelled.