Each way betting?

Question

I don't bet a lot but try and get a bet in for the grand national every year. Normaly I bet to win but this year I decided to go for and each way bet. I bet £10 and the bookie asked if that was £5 each way to which I agreed. I now have a betting slip that says:

E/W £5.00 (horses name) 22/1

I know i will get £147.50 if it wins but how much do I get if it places lower than first?

Thanks in advance

Answer 1

the bookie should pay out on 1st, 2nd, 3rd & 4th place and depending on where you placed the bet (different bookmakers) you will either get 1/4 or 1/5 of the odds. i.e 1/5 22/1 is 4.4 x £5 is £22 + £5 bet back, total of £27.

Answer 2

It depends, sometimes for a horse to be placed you are payed on on 1/4 or a 1/5 of the odds. If your horse is placed, and paying out at 1/4 odd you will win 32.50, if paying out at 1/5 of the odds you will win 27.00

Answer 3

pretty sure its 1/4 of the odds so divide the odds by 4 multiply it by your stake and add your stake

Answer 4

You will get - £27.50p if your horse comes 2nd, 3rd or 4th.  plus £5 of your stake back. (1/4 of what you would have won if your horse wins).

Each way basically means that you are covered for 1st,2nd,3rd and 4th in the race.  Most races are generaly just 1st, 2nd and 3rd.  But because of the amount of horses entered tomorrow you get extra.  Each way is a great way of covering your back, and aslong as a horse has better odds than 5-1 you will make a profit with a place/

I hope thats clear enough, I dont think I made a very good job of explaining it though.

Answer 5

it should be 5 an a half times your 5 quid, plus your 5 quid back,on the first four places.  but sum bookmarkers ,are doing first 5 places, for less odds for places.   not sure if this helps

Answer 6

Each way means £5 for the horse to win and £5 for it to be placed, for the national I think it's 1st, 2nd 3rd and 4th.If it is placed it will probably be a quarter of the odds, which will be 11/2  or 5.5/1 that's about £32.50 I think. unless it's a 1 fifth of the odds then you'll just have to wait and see, to tired for sums at the mo.