Limits betting odds for those fond of the naps (4)

I believe the answer is:

beds

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'limits' is the definition.
The definition and answer can be both locations as well as being plural nouns.
Perhaps they are linked in a way I don't understand?

I can't explain the remainder of the clue.

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(Other definitions for beds that I've seen before include "Garden plots -- English country (abbr)" , "County; furniture" , "to which people may retire" , "Pieces of furniture" , "furniture items?" .)

I've seen this clue in the Irish Times (Crosaire) and the Irish Times.

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