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Better Place Odds Races

I've just backed Elik each way at 8/1 but i'm confused it says better place odds yet it shows1/5 for first 3 places. Whats better about that? or am I missing something?
2.15 Chester - Better Place OddsWin  
     08/05/2013 14:15Elik @ 8/1 (Each Way: 1/5 for first 3 places.)

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