Horse racing bets don’t come much better than this! As far as I am concerned this bet is the one bet that needs perfecting. With the right knowledge of how and when to place this type of bet, your betting success can sky rocket. The very ultimate in horse racing bets for sure.
We have already explained the basic use of the win single bet in this series. We now need to focus on the use of this most useful of horse racing bets. It is not the easiest thing to explain to those new to the game. However every single horse racing punter must adopt this approach.
I personally know one of the greatest horse betting minds ever to grace this planet. This approach, he and many others like him including myself, use daily to make money betting on horses.
To place an each way bet, is simply to place two bets at the same time. Instead of having your entire £10 stake on a win single. You would place £5 each way. Each way being, you now have a £5 win single bet and you also have a £5 place bet.
Place meaning that your horse needs to finish in the official places for a race to collect that part of your bet. If you hit the jackpot and your horse wins, then you are paid out on both sections of your bet. If your horse were to finish outside of the official places then you would lose your entire stake money.
Psychologically each way betting when you know what you are doing, is far superior than backing win singles. It is easy to rack up a string of losers when betting to win only. However, with experience well placed each way bets are far more likely to show a return. The place part of the bet can be used to protect the win stake if the mathematics are correct. We will go in to this later on in one of our more intermediate lessons.
The official places for a race vary with conditions, but currently the conditions look like this:
Number of runners/type of race Place terms
2-4 runners / No place betting allowed
5-7 runners / 1st and 2nd one quarter the odds
8 + runners / 1st, 2nd and 3rd one fifth odds
Handicaps 12-15 runners / 1st, 2nd and 3rd one quarter odds
Handicaps 16 + runners / 1st, 2nd, 3rd and 4th one quarter odds
You can see clearly that in races of less with less than four horses, no each way betting is allowed.
Example: £10 each way bet (Totals £20) on a 4/1 horse that wins in a 14 runner handicap would return:
£10(each way stake)x4(winning odds)= 40. 40/4(1/4 place term win)= 10. The sum added equals your profit £40+£10 = £50 profit.
The same £10 when the horse finished either 2nd, 3rd or 4th would look like the following. Now this gets confusing, remember you have to calculate what the sum total of your win bet WOULD have been and then divide this by your place terms. This will then give you your return figure for the place part of your bet!
£10 each way bet (Totals £20) Win place loses -£10 (win stake lost) + 40/4 (place term win) = 10. The sum added equals your return in this case £0. You lose the £10 staked on the win side of your bet because it lost. You win £10 with the place return and also receive your original place stake back. Returning your £20 stake and losing or gaining you nothing. mega888