Understanding Each Way Terms on Horse Racing
When you are placing a bet on a horse racing with your bookmaker you can choose whether to place a win bet on the horse or an each way bet. Should you decide to place an each way bet then what you are actually doing is placing two bets on the horse, one bet for the horse to win and one bet for the horse to place. The majority of punters will bet using a mix of both types of bet, although choosing when to bet each way is personal preference. If you are interesting to choose best bookmaker for horse racing betting, check our best horse racing bookmakers 2023 rating.
The one complicated part about betting each way is working out the returns off your bet and that is something that a lot of people struggle with. Aside from that, each way betting is easy to do and anyone can do it, from the professionals down to those who are just starting out and still learning. If you are unsure what returns you would get from a bet, and you want to check whether it is profitable to do the bet each way, use one of the many betting calculators that are available on the internet. By typing in the odds, the bet you have placed and the each way terms you will be told the return off the bet, this will make decision making much easier for you.
Each Way Terms
Different races have different each way terms and there are two things that determine what the terms are for a race. The first is the number of runners in the race and the second is the type of race that it is, both of these are important to consider, and both are used to make up the each way terms. Handicap races are the ones that offer the best place terms, and these races also offer an additional place in big fields so make sure you watch out for those.
The races that are non-handicaps are worked out using the following each way terms:
Non-Handicap Races
2 – 4 Runners: Win Only
5 – 7 Runners: 1/4 the odds over 2 places
8 or more Runners: 1/5 the odds over 3 places
The races that are handicap races are worked out using the following each way terms:
Handicap Races
2 – 4 Runners: Win Only
5 – 7 Runners: 1/4 the odds over 2 places
8 – 11 Runners: 1/5 the odds over 3 places
12 – 15 Runners: 1/4 the odds over 3 places
16 or more Runners: 1/4 the odds over 4 places
The first thing to remember when you are placing an each way bet is something that has already been mentioned and that is the bet is actually two separate bets. The first bet is on the horse to win the race, and the second bet is on the horse to place in the race, which is worked out using the above terms. When you are staking your bet, a 1 unit stake on an each way bet costs you a total of 2 units, so make sure you take this into account when deciding your stake.
If your selection wins then you will be paid out on both the win and place part of your bets if your selection places then just your place bet will have won and you will be paid out on that. If the horse fails to finish in the places then your bet will be a losing one and you will lose your entire stake.
Enhanced Each Way Terms
The terms that have been mentioned are the standard each way terms used by sports betting sites. This is the minimum they must offer to customers. However, if they wish they could enhance the terms on offer with a promotion on a specific race to try and get more customers betting with them. This is something that bookmakers do regularly, and something that each ay punters should always look out for as it can make your betting more profitable.
For example, when the big flat horse races are takg place in the summer, these races have a standard each way term of 1/5 odds because they are non-handicaps with eight or more runners. However, because the race in question is a big event and a lot of people will be betting on it, some bookmakers may decide to offer 1/4 odds on that race, to try and bring in some extra business. This is something that is certainly worth looking out for because it can add profit to your betting, it may not be much but every little bit counts when you are going up against the bookmakers.
Another example of enhancing the each way terms is when bookmakers decide to pay out on an extra place in a specific race, again to compete with each other and get more business in. The world’s most famous race is the Grand National and this race is a great example of this happening.
The Grand National is a big field handicap so the traditional terms on the race are 1/4 odds for the first four places. The race has so much attention around it and so many people bet on the race that bookmakers are fighting for business and to get more punters in they offer enhanced place terms. This is usually by adding an extra place on and paying out on the first five places, instead of the first four. Some bookmakers may even pay out on the first six places, such is the competition on this event.
This is a great added bonus for punters who are looking to get extra value from their bookmaker. Each way terms are standard across the board, but with promotions happening with different bookmakers all the time, you may be able to get better than the standard terms on some races. This is something to keep an eye out for, especially if you bet each way a lot, and it could add more profit to your betting in the long run.
