Each Way Odds for Newbies

Pat_Planky

Hello. Can someone please explain to me how the odds are calculated when an each way bet is won by a place?
So say..."My Horse has odds of 20:1 and I put a fiver on him each way (for a total of €10) and he comes in second."....
How much will I get and how is it calculated?

joeguevara

It depends, but usually if he is place i.e. 2nd/3rd/sometimes 4th and 5th depending on the race, you will get 1/4 odds.

So you in essence had a €5 at 20:1 x.25 = 25

If he had won you would have had €5 x20:1 + €5 x20:1 x.25 = €125

THink thats right.

Pat_Planky

Very helpful Jjoeguevara, thanks.
Do most bookies use the same quarter odds ratio or does it depend on the booky?

joeguevara

Pat_Planky wrote: »

Very helpful Jjoeguevara, thanks.
Do most bookies use the same quarter odds ratio or does it depend on the booky?

I'm not a big better, but every time I placed an each way bet it was quarter odds. Definitely check with the bookie and also check the number of places they will pay out on and the number of horses that need to start/finish before those places will be paid out on.

Joe

Kablamo!

It depends on the number of runners, if it's a handicap race, etc. 1/5 of the odds is very common also.

Pat_Planky

Thanks Kablamo. Do they tell you on the betting slip? I don't remember noticing anything...

Kablamo!

No, but you could ask when you're placing the bet.

Pat_Planky

Thanks a million Kablamo

scheister

taken from the Paddy Power Site

The following governs settlement of the place part of each-way bets:
Handicaps of 16 or more runners: 1/4 odds for the first four places
Handicaps of 12-15 runners: 1/4 odds for the first three places
All other races of 8 or more runners: 1/5 odds for the first three places
All races of 5, 6 or 7 runners: 1/4 odds for the first two places
All races of less than 5 runners: all place stakes will be treated as win stakes.