The Grand National is one of the world’s most famous horse races. It is a steeplechase over a distance of 4 miles 514 yards (6.907 km) and it takes place annually at Aintree Racecourse, near Liverpool, England. Every year, millions of people around the world tune in to watch the race and to place bets on the outcome. But how many places do each-way bets cover in the Grand National?
What is an each-way bet?
An each-way bet is a type of bet that allows you to receive a return if your selection finishes in the top two, three or four (depending on the race and the number of runners). An each-way bet is actually two bets in one – a ‘win’ bet and a ‘place’ bet. The win bet is a bet on your selection to win the race; the place bet is a bet on your selection to finish in a specified number of places.
How does an each-way bet work?
To make an each-way bet, you need to specify the number of places you want to cover and the amount of your stake. For example, if you make an each-way bet on a horse to win the Grand National, you could specify that you want to cover four places and you could stake £10. This means that you are placing a £10 bet on your horse to win, and a separate £10 bet on your horse to finish in the top four.
If your horse wins the race, you will receive the winnings from both bets. If your horse finishes in the top four but doesn’t win, you will only receive the place winnings.
How many places does an each-way bet cover in the Grand National?
The number of places covered by an each-way bet in the Grand National varies, depending on the number of runners in the race. If there are fewer than eight runners, the each-way bet will only cover the first two places. If there are eight to sixteen runners, the each-way bet will cover the first three places. If there are more than sixteen runners, the each-way bet will cover the first four places.
How is the each-way bet paid out?
When you make an each-way bet, you need to specify the amount of your stake. This amount is divided in half and the two bets (win and place) are placed separately. The winnings from the win bet are paid out in full, while the winnings from the place bet are paid out at a predetermined fraction of the odds.
For example, if you place an each-way bet on a horse to win the Grand National, and your horse finishes in the top four but doesn’t win, you will receive a fraction of the odds that are specified by the bookmaker. This fraction is usually one-fifth or one-fourth of the odds.
What other rules apply to each-way bets?
In addition to the above rules, there are a few other rules that apply to each-way bets.
Rule 1: Non-runners
If one of the horses that you have backed in an each-way bet is declared a non-runner, your bet will be settled as a win bet only.
Rule 2: Joint favourites
If two or more horses are joint favourites for the race, the each-way bet will be settled at a fraction of the odds for one-quarter of the total number of joint favourites.
Rule 3: Dead heat
If two or more horses finish in a dead heat for a place, the stake is divided by the number of horses in the dead heat and the winnings are paid out at the full odds.
Conclusion
An each-way bet is a type of bet that allows you to receive a return if your selection finishes in the top two, three or four (depending on the race and the number of runners). In the Grand National, the number of places covered by an each-way bet varies, depending on the number of runners in the race. When you make an each-way bet, your stake is divided in half and the two bets (win and place) are placed separately. There are also a few other rules that apply to each-way bets, such as non-runners, joint favourites and dead heats.
In conclusion, the Grand National is one of the most famous races in the world, and understanding how each-way bets work can help you make informed decisions when it comes to placing bets on the race.