The win double needs both horses to win to be successful while the place double needs both horses to place to be successful. As you are placing two bets in one, your stake will be doubled, so a 10 stake would double to 20 to cover both the win double and place double.
Simply put, three-way betting odds offer three wagering options that focus on regulation time results only. They differ from two-way odds as a TIE is added as a third betting choice. Three-way lines are offered in most competitions where a draw is a possible outcome.
A 3-way bet is a bet on an event that has three possible outcomes: Team A wins, Team B wins, or a draw. The odds on a 3-way bet will always be higher than odds on a similar two-way bet considering there is an additional outcome. Therefore, when one places a 3-way bet there is only one way to win and two ways to lose.