Place Markets - Positions/Payouts help please?

[westbamtrading]

Can someone please give me a rundown of the place markets, what the different boundaries are and how many places/payout do i get? From what i understand

5 and under = winner only
5-7 = first and second
8-16 = first,second, third, fourth
.. am i on the right track?

[spreadbetting]

With Betfair it's never that simple as all place market terms are set when the market is created and dependant on the runners at that time not the off time. So say the market opens with 8 runners (3 places) but before the off 4 get withdrawn Betfair will still settle the market to 3 places even though only 4 ran.

Betfair do follow the industry standard when setting up the place markets as per https://help.coral.co.uk/s/article/Each-Way-Betting . Always worth checking the number of places you're betting to with Betfair as it won't necessarily match the bookies. I'm sure bet angel will display it somewhere as it does get sent with the API price data.

[westbamtrading]

With Betfair it's never that simple as all place market terms are set when the market is created and dependant on the runners at that time not the off time. So say the market opens with 8 runners (3 places) but before the off 4 get withdrawn Betfair will still settle the market to 3 places even though only 4 ran.

^^Interesting!

Thanks for the reply.