Betting terminology unjargonified for you – now we do the old classic confuser – “Each Way”.
Each Way bets are actually (uncommon for horse racing) surprisingly simple to understand. When you make a bet each-way, this means that you are (with horses) having the bet in two ways (or both ways, hence the “each”) – one bet to win, and one for the horse to be placed.
Place betting rules
A place generally means that the horse finishes in the first three, though there are also rules relating to this (and, indeed bookmakers can and do change these from timt-to-time), generally, though, these are the place betting rules:
- In races with fewer than 5 runner – NO PLACE BETTING – market is win only;
- In races with between 6 and 8 runners – TWO PLACES PAID – your horse must finish first or second;
- In HANDICAP races with 9-15 runners, or stakes races with 9 or more runners – THREE PLACES PAID – your horse must finish first, second or third;
- In HANDICAP races with 16+ runners – FOUR PLACES PAID – your horse must finish in the first four places to win.
The place part of each way bets usually pays a quarter or a fifth of the win odds, though your bookmaker has to let you know the amount before you bet. Note the different rule for handicaps and other types of race. Also, in certain races (such as the Grand National) some bookmakers pay out on 5 or even 6 places for each way bets, just check before you bet.