Yes, placebo is in the scrabble dictionary

...and is worth 17 points by itself.

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Placebo Definition

noun

An inactive substance or preparation used as a control in an experiment or test to determine the effectiveness of a medicinal drug.
from The American Heritage Dictionary of the English Language, 4th Edition
Roman Catholic Church The service or office of vespers for the dead.
from The American Heritage Dictionary of the English Language, 4th Edition
Something of no intrinsic remedial value that is used to appease or reassure another.
from The American Heritage Dictionary of the English Language, 4th Edition
A usually pharmacologically inert preparation prescribed more for the mental relief of the patient than for its actual effect on a disorder.
from Free Scrabble Dictionary
An inert or innocuous substance used especially in controlled experiments testing the efficacy of another substance (as a drug).
from Free Scrabble Dictionary

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Top Words by points

Points

placebo

13

2 letter words with PLACEBO

Points

ae

2

ab

4

op

4

el

2

bo

4

be

4

ba

4

la

2

lo

2

pa

4

pe

4

po

4

oe

2

al

2

3 letter words with PLACEBO

Points

cop

7

col

5

cel

5

ope

5

opa

5

cob

7

ole

3

oca

5

obe

5

oba

5

eco

5

lab

5

lac

5

lap

5

lea

3

lob

5

lop

5

alb

5

apo

5

ape

5

alp

5

ale

3

bae

5

bal

5

bap

7

bel

5

boa

5

bop

7

pol

5

pec

7

pea

5

ace

5

pal

5

pac

7

cab

7

cap

7

cep

7

4 letter words with PLACEBO

Points

loca

6

lope

6

plea

6

peal

6

pale

6

pace

8

olea

4

opal

6

pleb

8

leap

6

able

6

alec

6

aloe

4

bale

6

beal

6

blae

6

bloc

8

bola

6

bole

6

calo

6

cape

8

capo

8

clap

8

clop

8

coal

6

cola

6

cole

6

cope

8

pole

6

lace

6

lobe

6

5 letter words with PLACEBO

Points

place

9

paleo

7

cable

9

copal

9

coble

9

becap

11

7 letter words with PLACEBO

Points

placebo

13

Found 89 words in 0.215 seconds