Each way and Place Market

An each way bet is a combination bet involving two separate bets a win bet and a place bet. As a place bet is more complicated to understand this will be looked at first.

The first thing to understand is that a place bet is a bet where the selected horse must finish the race within a range of positions (for a winning bet). The range is dependent on the number of runners in the race and the type of race

Next, knowledge of the payout structure is needed. The odds paid on a place bet are a fraction of the win odds either or 1/5 and are also dependent on the number of runners and race type.

Runners Handicap races Non-handicap races

2-4

Win Only

Win Only

5-7

1/4 Odds 1st 2nd

1/4 Odds 1st 2nd

8-11

1/5 Odds 1st 2nd 3rd

1/5 Odds 1st 2nd 3rd

12-15

1/4 Odds 1st 2nd 3rd

1/5 Odds 1st 2nd 3rd

16+

1/4 1st 2nd 3rd 4th

1/5 Odds 1st 2nd 3rd

As can be seen from the above table the odds change once there are more than eight runners, but this change is dependent on the race type. Because predicting the outcome of a handicap race is far harder due to the handicapper evening the field with a handicap bookies offer better odds once there are at least 12 runners; and once there are16 plus runners one extra place is also paid. For some bookies this is also the case for nursery races due to each horse being an unknown quantity but check before placing a bet.

As with all events any bet on a non-runner will be refunded, but when the no-runner is not your selection the number of places paid is not affected (not all bookies use this rule). Instead all bets are subjected to a deduction factor in accordance with the following table. (Obviously, in the event that the number of runners is the same or less then the number of places paid, all bets will be void.)

Number of Places paid
Place Only price of runner (at the time of withdrawal) 2 3 4
Over 14/1 0% 0% 0%
10/1 to 14/1 5% 0% 0%
6/1 to 9/1 5% 5% 5%
9/2 to 11/2 10% 5% 5%
10/3 to 4/1 10% 10% 5%
5/2 to 3/1 15% 10% 5%
15/8 to 9/4 15% 10% 10%
13/8 to 7/4 20% 15% 10%
5/4 to 6/4 20% 15% 10%
Evens to 6/5 25% 15% 10%
5/6 to 20/21 25% 20% 15%
4/6 to 4/5 30% 20% 15%
4/7 to 8/13 30%

20%

15%
4/9 to 8/15 35% 25% 15%
1/3 to 2/5 35% 25% 20%
2/7 to 3/10 40% 25% 20%
1/5 to 1/4 40% 30% 20%
2/17 to 2/11 45% 30% 20%
1/16 to 1/9 45% 30% 25%
1/18 or less 50% 35% 25%

Not all bookies follow this rule as strictly as they should so it is always better to shop around. Many of the smaller and independent bookmakers often waiver the smaller deductions of 5 to 15 percent. This can clearly add substantially to any pay out.

So, a place bet is one portion of an each way bet. The other is a win bet, this bet is simply a bet on the winner of the race. When you put on a 10 each way bet, your total out lay is 20. 10 on the win and 10 on the place.

   
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