As far as I'm aware, content place holder tags don't even get passed to the client, they're for server-side use only, so you won't be able to access them with Javascript like this.
An easy way to do this is to put a <div> tag around the place holder in your Master page, then use that tag to add your content to instead.
So in your Master page:
<div id="mainContent">
<asp:contentplaceholder id="cphmain" runat="server" >
</asp:contentplaceholder>
</div>
Then in the Javascript on your content page:
var ph = document.getElementById('mainContent');
var divtest = document.createElement('div');
divtest.setAttribute('id', 'rounddivepanel');
divtest.innerHTML = 'my new div is here';
ph.appendChild(divtest);