You used our horse racing calculator at OddsMonkey, and then placed a £5 each way bet at odds of 10/1. You scanned the market, and after some consideration, you backed Tiger Roll to win the Grand National. Let’s say you are preparing to watch the Grand National, and you have looked at the odds for some outright bets. You essentially place a safety net around your win bet and catch a small profit if you still see your horse finish in a worthy position. Placing an each way bet on this horse would cover it having an incredible race and winning, and also cover it performing but not beating the favourite. These bets are usually placed on a horse who has the ability and potential to win, but is not the favourite for the race, meaning the odds are somewhat higher than the favourite’s will be. You can easily use our horse racing calculator to find out how the odds will affect your returns.Įssentially, you give yourself two chances to win from the same selection, one with predominantly higher odds, but one more likely to actually win. If the horse only places, we lose the win part but win the place part. If our horse wins, we win both the win part and the place part. With an each way bet we are actually placing 2 separate bets. When placing an each way bet it’s not always clear what your return is going to be.
