Why Place betting is better than each way

Many people like to back EW when they think a horse is too big a price to back to win and a place will give them some returns for their bet. Other punters look for value in backing horses to place,
Why Place betting is better than each way
Darren Brett
Darren Brett Tipster Competition Manager

Horse Racing, greyhounds and snooker specialist with thirty years experience of writing about sport across multiple platforms. A QPR and Snooker fan

Win and Place Bets

For many a year, I have been backing win & place instead of each way.

The reason being is you can use any stake you want and you are not risking losing half your stake if your horse doesn't win.

For those that are risk-averse place betting also negates the "worry" of the horse missing out on 1st place.  

Risk Aversion
Those who are risk averse prefer a surer outcome to an outcome that could potentially give a significantly higher return.

For a rundown of all bet types check out the article below. 

Types Of Horse Racing Bet
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Types Of Horse Racing Bet

National Hunt Racing Example

Let's look at the Denman Chase, the betting was supplied by Paddy Power at 10.45 am on the day of the race. 

The each way terms were 1/5 odds for 1,2,3.

HorseWin
Silviniaco Conti 4/6
Menorah13/2
The Giant Bolster 7/1
Mail De Bievre8/1
Weird Al 20/1
Junior 22/2
Master Of The Hall 28/1
Little Josh 33/1

My Plan

Let's say you fancied Weird Al and wanted to invest £20 so decided to back him £10 ew at 20/1, he  grabs 3rd place and you get £50 return, 1/5 of 20/1 is 4/1 and you had £10 on it.

Realistically you only got 6/4 for your place as your initial stake was £20, 

£20 on a 6/4 would return £50, ok the horse might have won

but are you happy to back a 6/4 shot that was actually 20/1 to win the race?

Weird  Al was priced up at 5/2 to be placed and you still want to back him with £20.

You could, therefore, place all of your stake on him at 5/2 and get returns of £70, much more than if backing ew 

OR 

you could risk a small £2/£3 on him to win and stake the rest on the place.

£2 win at 20/1 & £18 place at 5/2, the £18 place would still return £63.

So now your thinking what if he won, ok so you win less but what're the chances of you picking a 20/1 horse winner for every race?

Eventually, you will pick a winner but the amount of money your winning on the place bet will offset any eventual returns of backing a winner.

My Race Day

When I go racing I like to stake £20 a race and I always back with the Tote and I place £5 win & £15 place on my bets.

I am more than happy to stake £20 a race and get evens for my place and make a £10 profit per race.

I could leave the track with £60/£70 profit this way and yet not picked a winner.

Wouldn't you be more than happy to make £60/£70 profit per meeting (using £5/£15 stakes), 

if your staking plan is higher then your returns will be greater.

Something to think about when backing bigger priced horses in big fields.

Your Comprehensive Guide to Tote Betting
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Your Comprehensive Guide to Tote Betting

Flat Racing Win and Place Example

Below you can see a tighter race with two horses under even money to place, with the others odds against to place. 

In time you will start recognising which races offer value in the place market. 

HorseWinPlace 1-2-3
Big Evs13/81/3
Asfoora100/308/13
Believing8/17/5
Starlust17/26/4
Live In The Dream11/115/8
Desperate Hero12/15/2
Ponntos14/15/2
Kerdos20/17/2
Rogue Lightning20/17/2
Sturlasson125/114/1

Place Percentage Chance

In a previous season i noted all the placed horses.

The 1st horse in the betting placed 60% of the time, the 2nd horse in the betting placed 48% of the time etc. 

Obviously, you need to consider the number of runners, the odds, and the place terms before striking your place bet.  

  • 1st Horse in Betting = 60%
  • 2nd Horse in Betting = 48%
  • 3rd Horse In Betting = 38%
  • 4th Horse In Betting = 31%
  • 5th Horse In Betting = 25%
  • 6th Horse In Betting = 20%
  • 7th Horse In Betting =16.5%
  • 8th Horse In Betting = 14%


Place Terms

RunnersPlace Terms
2, 3, 4Winner Only
5, 6, 7Winner or Second Place
8 or moreWinner, Second or Third
Non Handicap of 16 or moreWinner, Second or Third
16 or more HandicapWinner, Second, Third or Fourth


If you use the OLBG Odds Conversion table you can check the percentage chance of a horse placing versus the percentage chance that the odds equate to. 

Odds Converter | Fractional to Decimal Odds & Probability
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Odds Converter | Fractional to Decimal Odds & Probability


Place Betting Specials

Many of the leading bookmakers offer money back specials on leading horse races, here for example you could mix and match (win and place as above) knowing that you will get your money back when finishing 2nd or 3rd. 

Bookmaker Specials
14.25 Goodwood - Thoroughbred Stakes - Money Back As Cash If 2nd or 3rd

I hope you have enjoyed this blog and it has made you consider the merits of place betting. 

Responsible Gambling

Whatever way you bet, you should always do it responsibly. The following articles were written on OLBG and are a guide to this important subject.

How to be Sensible and Gamble Responsibly (Examples)
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How to be Sensible and Gamble Responsibly (Examples)

Responsible Gambling Features, Function and Help
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Responsible Gambling Features, Function and Help

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