Sensor placement for the purpose of detecting/tracking news outbreak and preventing rumor spreading is a challenging problem in a large scale online social network (OSN). This problem is a kind of subset selection problem: choosing a small set of items from a large population so to maximize some prespecified set function. However, it is known to be NP-complete. Existing heuristics are very costly especially for modern OSNs which usually contain hundreds of millions of users. This paper aims to design methods to find \emph{good solutions} that can well trade off efficiency and accuracy. We first show that it is possible to obtain a high quality solution with a probabilistic guarantee from a "{\em candidate set}" of the underlying social network. By exploring this candidate set, one can increase the efficiency of placing social sensors. We also present how this candidate set can be obtained using "{\em graph sampling}", which has an advantage over previous methods of not requiring the prior knowledge of the complete network topology. Experiments carried out on two real datasets demonstrate not only the accuracy and efficiency of our approach, but also effectiveness in detecting and predicting news outbreak.