In races of five runners, the each-way value is often found with the second horse in the pre-post betting market. The missed profit on winning long shots is never compensated by the poor place returns for those that are narrowly beaten - big prices are always better backed as win-only in the long term. Not generally understood is the fact that each-way betting is more effective at lower prices. Importantly, the two places in a five-runner event account for 40 per cent of the total (as against 37.5 per cent for the three places in an eight-runner race). In cases where a subsequent non-runner is declared the bet stands as win-only for system purposes (this provision is made on the basis that bets are often placed early in the day).Ī carefully researched 20/1 shot is only equivalent to a 2/1 winner when placed second or third in an eight-runner race, giving very poor value (a one-point each-way stake would return six points at one-quarter odds, making it equal to a 2/1 win).Ĭontrary to popular belief, the best value for each-way backers is found in races of five runners, where the return for a place is one-third odds.
In any race with five declared runners, place an each-way bet on the second-named horse in the pre-post betting market.