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Each Way Odds for Newbies

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  • 24-06-2014 2:26pm
    #1
    Pat_Planky
    Registered Users Posts: 43 ✭


    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?
    Tagged:


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    #2
    joeguevara
    Registered Users Posts: 8,075 ✭✭✭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.


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    #3
    Pat_Planky
    Registered Users Posts: 43 ✭Pat_Planky


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


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    #4
    joeguevara
    Registered Users Posts: 8,075 ✭✭✭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


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    #5
    Kablamo!
    Registered Users Posts: 879 ✭✭✭Kablamo!


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


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    #6
    Pat_Planky
    Registered Users Posts: 43 ✭Pat_Planky


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


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    #7
    Kablamo!
    Registered Users Posts: 879 ✭✭✭Kablamo!


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


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    #8
    Pat_Planky
    Registered Users Posts: 43 ✭Pat_Planky


    Thanks a million Kablamo


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    #9
    scheister
    Registered Users Posts: 1,309 ✭✭✭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.


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