Grand National Betting: Each-Way Betting Explained

If you’re unfamiliar with betting then it’s useful to know about the types of bets you can have on the Grand National. One of the most popular is the each-way bet.

An each-way basically consists of two separate bets; a win bet and a place bet. For the win part of the bet to give a return the selection must win or finish first in the event. For the place part of the bet to give a return the selection must either win or finish in one of the predetermined ‘places’ for the event. The odds paid on the place part of the bet are usually a fraction (commonly $\tfrac{1}{2}$ , $\tfrac{1}{3}$ , $\tfrac{1}{4}$ or $\tfrac{1}{5}$ ) of the win odds. In the Grand National most bookmakers go with place terms that are $\tfrac{1}{5}$ the odds if your horse finishes in the first 4 places, although many now pay out on the first 5.

Staking

Because an each-way wager comprises two bets, the total staked is twice the unit stake. For example, a £5 each-way single would cost £10.

Settling the bets

Calculation of returns uses either decimal odds or (fractional odds + 1).

Each Way Bet Example

£5 each-way on a horse ‘to win the Grand National’ at 20/1 and $\tfrac{1}{5}$ the odds a place 1, 2, 3 or 4th.

Returns for the win part of the bet would be £5 × 20 = £100.00, plus your £5 stake = £105.00
Returns for the place part of the bet would be £5 × 4 = £20.00, plus your £5 stake = £25.00
If the horse ‘won the Grand National’ the total returns would be £105 + £25 = £130.00 and if the horse didn’t win the race but finished in the first 4 the returns would be £25. If the horse didn’t finish in the top 4 the wager would be lost.

It is advised that if you are betting on a horse in the Grand National that you should place your bet as an each-way bet. That means you will get a return should our horse finish among the place positions.

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