EACH WAY BETS EXPLAINED
The Each Way bet is the most popular way to back a horse at the Grand National. This type of bet is popular because it covers horses finishing in the top four places. It's easy for people to understand why this type of wager is preferred. We also cover general horse racing so you can understand how an every-way bet works regardless of the race.
HOW DOES IT WORK
The idea of horse races is to pick the winner. It can be difficult to predict the outcome of an event like the Grand National with 40 runners.
This is where the 'Each Way' bet comes in handy. This gives you the opportunity to receive a return on your investment if the horse you are backing doesn't win, but finishes in the 2nd, 3rd or 4th places.
You can only bet on one thing with each-way. The first is that your horse will win. The second is that the horse will finish anywhere from 5th to 7th.
Your bet is divided into two parts, the 'Win' part and the?Place' part. Each stake must be equal, e.g. A PS5 each-way bet will give you PS5 on 'Win' and PS5 for 'Place', making it a total of PS10.
Your horse must finish first. The 'Win’ part of your wager is on your horse. The 'Place’ part of your bet on your horse must finish in one of the places. 2nd, 3rd and 4th (or 6th if you choose a bookmaker).
The exact same applies to any horse race you can wager on throughout the year.
HOW DO I WIN?
For each-way horse racing bets, there are certain rules that bookmakers must adhere to. These rules are based upon the number of horses participating in a race.
1 - 4 runners. No Places. Win Only.
5-7 runners - 1/4 Odds for 1st and 2nd places only
8+ runners – 1/5 odds - 1st-2nd and 3rd places
12-15 runners (handicapped race only) - 1/4 odds for 1st, 2nd, and 3rd places
16+ runners (handicapped race only) - 1/4 odds for 1st, 2nd and 3rd place
Your bet will pay both the 'Win and 'Place' portions if your horse wins. If your horse places only, the 'Win" part of your wager will not pay.
If your horse finishes second, third, fourth, fifth, 5th, or 6th*, you will still be able to collect the 'Place" part of your wager.
Please note that if a horse race is handicapped and has more than 16 participants, the bookmaker must pay 1/4 of the odds.
If they increase that number to 5th, or 6th, the payout will be reduced to 1/5.
HOW MUCH CAN I GET?
There are many factors that affect the amount of money won. The most important factor is whether your horse won the race or was he just placed. What were the odds of your horse winning?
Let's say your horse wins at 40/1. You've backed him for PS5 each, which equals PS10 total.
Your PS5 "win" portion of your bet pays PS200 (PS5x40/1) and the original PS5 "win" stake is returned to you, giving you PS205.
The 'place' portion of the bet will also pay out. Bookmakers typically pay only 1/5 of the odds for the 'place’ portion of a bet on big races.
Your PS5 "place" portion of your bet will pay out PS40. This works out as follows: A fifth of 40/1 is eight/1, PS5@8/1 equals PS40.00, your original PS5 stake gets returned, giving you PS45
You'll get PS250 in winnings if you add that to the PS205 "win" portion.
Let's say your horse finished third. It doesn't matter if your horse finishes second, third, fourth, or fifth with some bookmakers.
Your horse did not win the race, so you lose the 'win portion' of the wager and PS5. You will still receive PS40 for the 'placement' portion of the wager and the PS5 place portion of your original betting, as explained above. Learn Each Way Betting Experience