If you are betting on horse racing, you should definitely consider each way markets. They provide a layer of security to your bets and also allow you to get money back for your bets even when your horse does not win.
An each way bet consists of two parts: a “win bet” and a “place bet.” When you place an each way bet, two bets of identical amounts are placed on the same horse. One stake is on the horse to win, whilst the other is on the horse to finish in the places which is determined by the number of runners.
The odds of the horse
The odds are set by the bookmakers and represent the horse’s chance of winning. The odds will be set considering many factors such as, previous form and also the amount of money being placed on the horse. When it comes to each way betting, bookmakers will pay either 1/5 or 1/4 of the horses starting price. For example, if a horse is priced at 10/1 to win the race and the bookmaker is paying 1/5 of the odds to place you are getting a price of 2/1 to place. If your horse places you will only receive a return for the place part of the bet.
The number of places
This refers to the position in which the horse must finish in order for the place part of the bet to be a winner. Races with less than 8 runners will usually only pay for the first 2 places. Races with 8-14 runners will normally pay out for the first 3 places and races with more than 14 horses will often pay 4 places. It is worth keeping an eye on this as some bookmakers will often offer specials on these markets where they will pay for extra places. For example, in the Grand National some bookmakers have been known to pay for as many as 8 places.
The advantages of each-way betting
Each way betting is popular as it provides you with a chance of getting a return from your bets even when your horse does not win. Horse racing is a challenging sport to bet on and finding winners is tricky. Each way bets adds some safety to your bets and in races with a lot of runners you can get a nice price on your horse to finish in the places and not just winning.
Research – This is crucial when it comes to betting on horse racing as there are so many things to consider before having a bet. With each way betting you need to be aware of the number of places that are being paid and what the odds on your horse to place are. Be sure to check out if your bookmaker is offering extra places as this will affect the odds on a horse.
Staking – Each way betting is essentially two bets being placed at the same time. When you enter your stake, it will double it to cover both parts of the bet. This is important to remember as you will need to enter half of your chosen stake when placing the bet to avoid placing more than you intended.
Horse racing is an exciting sport to watch and bet on, each way betting can add to entertainment as you have a chance of winning even when your horse doesn’t win the race. With so many races to bet on a day it is worth looking for extra place markets and races with lots of horses as these present more opportunities for each way bets. Before placing a bet you should consider the points we have raised in this articles as well as our other content at BettorMind.
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