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Default help with IF statement

I need a cell to calculate points based on position finished example if
racer finished 1st then he gets 50 points. another racer finishes 2nd he gets
49 point and so on.
Here what Ive tried but it only lets me enter up to 7 th place. I need it to
go to 50th place at least.
=IF(C5<1,"",IF(C5<2,"50",IF(C5<3,"49",IF(C5<4,"47" ,IF(C5<5,"46",IF(C5<6,"45",IF(C5<7,"44",IF(C5<8,"4 3"))))))))

Thanks
 
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