A swinger bet is a wager where you bet on a horse to win and place. This type of bet is considered a “saver” bet, as it gives you a chance to win some money even if your horse doesn’t win the race. The payout for a swinger bet is less than the payout for a win bet, but it is also less risky. If your horse wins, you will collect the win odds. If your horse places (finishes in the top three), you will collect the place odds. If your horse does not win or place, you will lose your bet.