A Conversation for A Day at the Races

Each way bet

Post 1

Simon B

Is it correct that, in an each way bet, its the number of horses in the race that actually determines whether your horse needs to finish in the top two, three, four etc. for you to get a return on your bet?

I went to the horse racing for the first time at Glorious Goodwood this year and didn't fully "get" this bit.


Each way bet

Post 2

Trout Montague

An each way bet is actually two bets, one for the win, and one for the place. Hence a pound each way will cost you two pounds, being a one pound wager for the horse to win, and a further pound for the horse to place.

As Cinnamon Boobies rightly states, both whether or not a horse will be considered to have succesfully 'placed', and the payout, will depend on the number of horses in the race. This will be subject to the individual bookmaker's rules, but as a general guide, the following can be used:

4 or less runners - no each-way betting
5-7 runners - 1/4 odds / 1st & 2nd
8 -11 runners - 1/5 odds / 1st, 2nd & 3rd
12-15 runners - 1/4 odds / 1st, 2nd & 3rd
16+ runners - 1/4 odds / 1st, 2nd, 3rd & 4th


Dr. Montague Trout
10 August 2002

Each way bet

Post 3

Trout Montague

I have added in my journal space some text on betting on horse racing in Hong Kong. I intend to add to it before submitting it as an entry so maybe you can pay a visit and give me some advice.


Dr Montague Trout
10 August 2002

Each way bet

Post 4

Sea Change

How literal is the each way bet and how literal is the concept of place (why would it be defined as two bets?). It seems to me that if your horse comes in first, it has gotten itself also in the place subset. Do you win twice?

Each way bet

Post 5

Trout Montague

Yes you do win twice because you have placed two bets. A pound each-way" is a pound to win and a pound to place, and hence costs two quid. If the horse wins, you get the winning odds on your pound to win plus the fractional odds on your pound to place.

In Hong Kong, and I suspect elsewhere, it is possible to wager a pure place bet, where you accept that you will only get "place" dividend on your stake even if the horse wins. It is literally one bet on the horse to come in the frame.

However, in England, bookies don't usually accept a place bet, unless it is accompanied by the win bet. Two bets, two stakes and two chances to win.

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