Nah, that'd be if he bet 20 on his horse to win, and won it. He went eachway so his £20 has basically been split into £10 on him winning, and £10 on his horse placing in the top 4 or 5.
For the place bets the bookies deduct from your winnings for the number of places that will win you something, which today would be either 4 or 5 I think, and I think they deduct 1/4 or 1/5 for each place.
If that makes sense, haha. I'm relatively new to it as well!
Last edited by Cll_ws; 14-04-2012 at 17:35.