Corrected entry: In the final scene at the fake betting parlor, the following dialogue is exchanged: Doyle Lonnegan: I put it all on Lucky Dan; half a million dollars to win. Kid Twist: To win? I said place! Place it on Lucky Dan. That horse is gonna run second! Doyle Lonnegan: There's been a mistake! Gimme my money back! When you bet on your horse to 'place', you get to collect if your horse finishes in first or second. It would be disappointing to Lonnegan that the payout would be less than he expected, but he's still in the black; it's not a loss. Consequently, it shouldn't elicit the reaction and the demand for his money back when he gained on the bet.
Bishop73
30th Apr 2020
The Sting (1973)
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Correction: The scene plays out exactly as you described and explains Lonnegan's reaction in wanting his money back. Lonnegan bet that Lucky Dan would win. He did not bet that Lucky Dan would place. By betting on Lucky Dan to win, Lonnegan loses his bet if Lucky Dan finishes 2nd. That's what the whole problem was and why he wanted his money back.
Bishop73