Betting each way?? grand national today?

Question

i will be betting £10 on numbersixvalverde in the grand national today (won £140 with this horse last year) but i can bet for the win or each way. the odds are 14 - 1 so what does each way betting mean?

Answer 1

£10 each way is £10 win and £10 place.

your win bet will pay out at 14/1

your place bet will pay out at quarter the odds, so 14/4.

If it wins you will get £195

If it places you will get £45

Answer 2

The first guy was spot on......if you win you get £140 plus your £10 stake for winning then the placing bet pays back at a quarter of the odds so that is £35 and your £10 stake back.

If it comes in the top four you just get the £35 and your £10 place stake.

Good luck !