Paddy Power is an Irish bookmaker founded in 1988. It is the largest bookmaker in Ireland, with a network of over 600 retail outlets. The company also offers online sports betting, online casino, online poker, and online bingo. Paddy Power is known for its innovative betting services, including its “Money Back Specials” and “Power Prices,” which allow customers to get more value for their bets.
The company also offers a range of horse racing services, including the popular “Each-Way” betting option. This type of bet allows customers to back a horse to either win or place in the race, giving them the chance to win even if their horse doesn’t win the race.
What Does Each-Way Mean?
Each-way betting is a form of betting where you can place two separate bets on the same horse. The first bet is for the horse to win the race, and the second bet is for the horse to finish in a place, usually the top three. If your horse wins the race, you will be paid out on both bets. If your horse finishes in the place, you will only be paid out on the place bet.
The amount of money you receive from each-way betting depends on the number of runners in the race, the odds of your horse, and the type of race. In most races, a place bet will pay out at a quarter of the odds of a win bet, so if you bet £10 on a horse at 4/1 to win, you will receive £40 if it wins, and £10 if it places.
Advantages of Each-Way Betting
Each-way betting is a popular way to bet on horses, as it gives you the chance to win even if your horse doesn’t win the race. This type of bet also gives you the opportunity to take advantage of good odds on a horse that you think may not win but could still finish in the top three.
Another advantage of each-way betting is that it allows you to spread your risk across two bets, as you only need your horse to finish in the place to win some money. This is a great way to make sure that you don’t lose your entire stake if your horse doesn’t win the race.
Disadvantages of Each-Way Betting
The main disadvantage of each-way betting is that you only get paid out if your horse finishes in the place. This means that if your horse finishes fourth or lower, you won’t get any money back from your stake.
Another disadvantage is that you will usually receive less money from a place bet than you would from a win bet. This means that if you bet on a horse with good odds, you could end up losing money if it only finishes in the place.
How to Place an Each-Way Bet with Paddy Power
Placing an each-way bet with Paddy Power is easy. All you have to do is select the horse you would like to bet on, enter the amount you would like to bet, and then select the “each-way” option.
Once you have done this, your bet will be placed and you will be able to see the amount you will receive from each bet, as well as the total amount you will receive if your horse wins or places.
Tips for Placing an Each-Way Bet
When placing an each-way bet, it is important to consider the odds of the horse you are betting on. If the odds are too low, your stake may not be enough to cover the cost of the place bet, so it is important to choose a horse with good odds.
It is also important to consider the type of race you are betting on. Some races are more difficult to win than others, so it is important to choose a horse that has a good chance of finishing in the place.
Types of Each-Way Bet
There are two main types of each-way bet: single and multiple.
A single each-way bet is when you place one bet on one horse. This means that if the horse wins, you will receive the win part of the bet, and if it places, you will receive the place part of the bet.
A multiple each-way bet is when you place one bet on multiple horses. This means that if one of the horses you have chosen wins, you will receive the win part of the bet, and if any of the horses you have chosen places, you will receive the place part of the bet.
Each-Way Betting Rules
When placing an each-way bet, it is important to be aware of the rules of the bet. For example, in some races, only the first two finishers will receive a payout, so it is important to check this before placing your bet.
It is also important to be aware of the minimum stake for each-way bets. This is usually £2 for single bets, and £4 for multiple bets.
Additional Each-Way Betting Options
Paddy Power also offers some additional each-way betting options, including:
- Ante-Post Each-Way Betting: This allows you to place an each-way bet before the race has started. This can be a good option if you think a horse has good chances of winning and is offering good odds.
- Tricast Each-Way Betting: This allows you to back three horses to finish in the top three, with the win and place part of the bet being split between the three horses.
- Multiples Each-Way Betting: This allows you to back multiple horses in the same race and split the win and place parts of the bet between them. For example, if you back three horses to finish in the top three, you can split the win and place parts of the bet between them.
Conclusion
Each-way betting is a popular way to bet on horses, as it gives you the chance to win even if your horse doesn’t win the race. Paddy Power offers a range of each-way betting options, including single and multiple bets, ante-post bets, and tricast bets. It is important to be aware of the minimum stake for each-way bets, as well as the rules of the bet, before placing your bet.