Maximise your profits, follow Gatespeed’s advice on utilising Each-Way value.
Each-Way Betting – Your Friend, Not Your Foe
1. How many places are on offer
Depending on the race, each way betting terms will vary. All non-handicap races exceeding eight runners will pay out on the top three finishers at one fifth of the odds. Between five to seven runners in any event will pay you out on the first two spots at one-quarter of the odds. In handicaps, each way terms depend on the number of runners taking part. Again, five to seven runners will reward you with quarter of the odds, between eight and eleven runners will result in each way terms being one-fifth of the odds with three places. Between twelve and fifteen runners will still require a top three finish, but each way terms will be one quarter of the odds. The each-way terms with sixteen or more runners in handicaps are one quarter of the odds, four places. Some Bookmakers may offer extra place specials for bigger races, we will cover this later on.
2. See what your selection must beat
This is very important, even if you are not planning on backing for each-way purposes. You can “like” a horse in any given race, but sometimes it is just better to let the bet slide. If you can identify more than two more serious dangers, then it may be better to look elsewhere for a bet. The place to start looking through any given race is the favourite. Can you find many holes in the favourite’s form? If the answer is yes, then start making your way down the card to find that value. Each-way betting especially flourishes when you fancy a horse at a decent price, yet you really fear the favourite. Finishing second or third to the favourite still rewards you. Never be afraid of just one horse. Horse racing is a game of fine margins. Take whatever the markets give you, even if it is backing a 5/1 second favourite each-way at one-fifth of the odds.
3. Place Specials
Extra place specials are becoming more prominent in the promotional tactics of high-street Bookmakers. While the offer of extra places does sound fool proof, it is certainly worth taking a look at the terms and conditions. Many firms offer one-fifth of the odds instead of one-quarter. Sometimes, that may be useful for your 33/1 shot in races with thirty runners, but usually, quarter odds and four places will be more profitable in the long term, especially if you have done your homework and are confident of your selection over the whole field. Extra places with one-quarter of the odds is the bookie you should be doing business with. Although it is rare, this does exist.
4. Antepost Each-Way Punting
This applies to races that are likely to attract small field sizes. A prime example is the Arkle Challenge Trophy from the Cheltenham Festival in 2017. The Arkle Challenge Trophy only attracted five runners. Footpad was the short-priced winner on the day. However, many punters would have seen this race as a waste of time due to the short price of Footpad. Others would have spotted opportunity. The trick here was to single out horses who were going to run here and not in a different race at the festival. Although there were only five runners, antepost supporters of Brain Power would have been rewarded with 14/1 (or bigger) for a place. Targeting races, particularly of Grade 1 status with very short favourites can result in you getting place terms of the first three even when there are less than eight runners.
5. Embrace the Stigma
Many punters will ignore each-way betting, citing small returns as a potential reason. This is totally irrational. Not only is each-way betting the smarter way to bet, but it helps you maintain a very solid bank. Pick out horses you are confident can hit the frame. It is nearly always going to work out better than the 6/4 shots you are confident will win. Each way betting gives you a greater margin for error and you will not need to continuously need to seek winner after winner to stay ahead.