3rd adds the bonus, 2nd keeps it the same and 1st clears it.You get a boost to rewards for getting 2nd place repeatedly without getting 1st place. It's +10% per 2nd place, up to a maximum of +50%. The bonus is still applied on your next 1st place, but it then resets after that.
This bonus is meant to keep your exp from being very bad if you're in a GC that loses a lot, but if you consistently get 2nd place, the rewards actually surpass getting 1st place all the time.
You can't really control this, though, and I'm sure a lot of people on your team care about winning and don't just want the best rewards possible.
To my knowledge, 3rd place does not boost the bonus higher, but the bonus is applied to it.
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