New to handicapping contests-what's this mean?

[AceInTheHole]

"Format: Mythical $2 Win/Place bets, payouts capped at $42.00 for Win and $22.00 for Place. "

I was thinking about tossing a shot at this contest and since I've never entered one I want to ask what this rule means.....? Does it mean no matter what my win selection would pay it would only count for 42 for purposes of the contest? Can someone explain in simple language what this rule means and what's the best strategy to maximize on this seeming limitation? Just want to try something different and this seems like fun!

[horses4courses]

"Format: Mythical $2 Win/Place bets, payouts capped at $42.00 for Win and $22.00 for Place. "

I was thinking about tossing a shot at this contest and since I've never entered one I want to ask what this rule means.....? Does it mean no matter what my win selection would pay it would only count for 42 for purposes of the contest? Can someone explain in simple language what this rule means and what's the best strategy to maximize on this seeming limitation? Just want to try something different and this seems like fun!

You're right.
There is a 20-1 limit on win payoffs, and 10-1 for place.
The rule is in place to guard against players throwing bomb after bomb.
Now they just throw 20-1 shot after 20-1 shot..... ;)

[Jay Trotter]

Ditto on what horses stated. Some people say you shouldn't make selection above the 20/1 threshold because of the cap as you are no longer getting value but other will say to still go after those higher odds runners because fewer people will be on them.

I say a winner is a winner even if you don't get the full value for your play. Good luck in your contest.