Each-way means you are splitting your bet in half, where one half is all about winning, but the other half is focused on placing (finishing 2 nd, 3 rd, and sometimes 4 th). This increases your chance of getting money back, but means if your horse does win, you win less than if you had just bet ‘on the nose' (to win). Reductions in weights to be carried allowed because of certain conditions such as; an apprentice jockey is on a horse, a female horse racing against males, or three-year-olds racing against older horses. All Weather Racing Racing that takes place on an artificial surface. Also Ran Any selection not finishing 1st, 2nd, 3rd or 4th in a race or event. Here's a glossary of horse racing lingo to help you understand some of the more unusual words which have been adopted in horse racing. Horse racing dates back hundreds of years and over the journey it has developed a language all of its own.
Place terms in horse racing apply to a couple of different betting scenarios. You will find examples of Place terms across many different sports, but it is more commonly used in horse racing than anywhere else.
RPR - Racing Post Rating (compiled by our private form handicapper), adjusted for that day's weights. W1 - Horse having first run since wind surgery W2 - Horse having second run since wind surgery. 1-9 - position the horse finished. All-weather (Flat) and point-to-point (jumps) are in bold.
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What are Place terms?
Horse Racing Place Betting Strategy
You will see something like 3 Places at 1/5odds on a horse race. This means that any payout on a Place bet would be doneat 1/5th of the original odds. So if you backed a horse at 10/1 the Place oddswould be 2/1 odds.
What Does Place And Show Mean In Horse Racing
A Place in horse racing is a designated numberof finishing Places in the race.
Where will I see Place terms listed?
This will be available on any race card at any bookmaker for all races. Here is an example of where to look for Place terms at Bet365.
What determines Place terms?
There is an industry standard in racing sothat Place terms are all the same across all bookmakers. It is the type of raceand the number of runners within it that actually determine the Place terms.
Each Way betting
Each way betting is when a stake is split in half over two bets. For example a £10 total stake on a Red Rum each way bet at 10/1, would mean that £5 goes to a Win bet and £5 to a Place bet. The Place terms are at 1/4.
If Red Rum wins:
You get paid at 4/1 odds for the win bet: £5 @4/1 returns = £20 profit and £5 stake back
You also get paid for the Place bet: £5 @ 1/1(which is 1/4 of 10/1) returns = £5 and £5 stake back.
If Red Rum Places:
You get nothing from the 4/1 odds for the winbet
You get paid at even money for the Place bet:£5 @ 1/1 (which is 1/4 of 10/1) returns = £5 and £5 stake back.
If Red Rum loses (doesn't finish high enough for even a Place finish)
Both bets lose
Place Betting
This is different from an each way bet, butstill involves Places. In a Place bet you are simply backing your selection tomake, for example, the top three in a race (or whatever the Places for a givenrace are). It doesn't matter if the horse finishes first, second or third youwill get paid at the same odds.
Note you will have a very hard time finding a bookmaker that accepts Place only bets. The Tote would be the Place to really go as you get things like a Placepot. That's where you select a horse to Place from six designated races.
Bookie Specials
Note that bookmakers do offer a lot of specialpromotions that allow you to take extra Places. For example when the big GrandNational comes around, then a bookmaker may extend the Places by adding threemore on to the regulation four that would be available.
Changes happen
If you have backed a horse early in the day in an each way bet, then things could change by the time the race goes off. This will happen when non-runners crop up. Let's say that it was a race of 8 horses which is at 1/5 Place terms on three Places. If a horse drops out then the Place terms on that heat will shift to 1/4 on the first two Places. Because of having a runner less, it would fall into a different bracket for Place Terms (see the table above for reference).
Want to learn more about horse racing? Check out our other comprehensive beginner guides.