Place Betting In Horse Racing

[porkchop]

Bookies offer E/W place betting on 1 2 3 4 in handicap races when 16 horses run . However in non handicap races or in maiden hurdles when there could be over 20 horses in a race the bookies only pay e/w on the first 3. Can anyone explain the logic for this?

[weecalf]

Don't know if its the reason .In the handicaps the horses are given the weights according to their ability and to ensure each has an equal chance.so in the race of 16 runners it would be deemed harder to find a winner or placed horse .

[Sycamore3House]

http://www.winningratings.com/non-handicap-horse-racing.php

This explains non handicap racing. Maiden hurdles are races where horses have not won a race before.
Weecalf's post is correct in handicap races.