Each Way Bets Explained
HOW DOES IT WORK?
The wager consists of two parts: the’Win’ and the’Place’. Each region of the bet must be an equal stake, e.g. a #5 each way bet will probably have #5 to the’Win’ and #5 on the’Place’ creating a total of #10.
The’Win’ section of your bet is on your horse to complete, and the’Position’ part is on your horse to finish first or in one of the places, e.g. 2nd, 3rd, 4th (5th or even 6th with chosen bookmakers).
HOW DO I WIN?
If your horse comes home first (wins), the’Win’ and’Place’ portions of your wager will pay out. But if your horse only puts, you’ll shed the’Win’ part of your wager but you’ll still accumulate on the’Place’ 2nd, 3rd, 4th and 5th or 6th*.
HOW MUCH DO I GET?
The amount won depends on number of factors. Most importantly, was the race won by your horse , or was he just put? And what chances did you get?
Let’s assume that your horse wins (1st) at 50/1 and you’ve endorsed him for #10 every way. The #5’win’ part of your wager overlooks #250 (#5??50/1) and also the original #5’win’ bet is returned, giving you #255, you’ll also receive paid out on the’place’ part of this bet also! But, bookmakers will only pay 1/4 of their odds that are quoted out on’location’ portion of this wager. The #5’place’ portion of your wager pays out #67.50. Worked out just like this — a quarter of 50/1 is 12.5/1, #5@12.5/1 = #62.50 and your original #5 stake is returned, giving you #67.50. Add that to the #255’win’ portion and you’ve got #322.50 in winnings.
Now let us assume that your horse came third, bear in mind it doesn’t make any difference to the payout when your horse finishes 2nd, 3rd or even 4th. As your horse did not win, you lose the’triumph’ part of the bet and #5. However, you collect #67.50 on the’place’ part of the wager. Worked out like this — a quarter of 50/1 is 12.5/1, #5@12.5/1 = #62.50 along with your original #5 stake is returned, giving you #67.50.
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