Each Way Betting
 

Someone places a £1 outright winner each way bet with odds of 500/1.

If the person who has been bet on finishes as winner or runner-up, what will the payout be?

Please explain all scenarios.

Thanks

Re: Each Way Betting
 

I think it depends on how many places, also how many runners...but the each way will pay out the full odds for the winner so £501 (minus tax if not paid on the bet) and for a runner-up probably be £126 (quarter odds)

Re: Each Way Betting
 

32 participants.

Re: Each Way Betting
 

you dont pay tax on bets anymore,
is it £1 e/w= £2 total or 50p e/w =£1 total
if your horse comes in first you have 500 x bet and 1/4 x bet plus stake money back
if your horse comes in 2nd, 3rd, or sometimes 4th, (depending on how many run) you will get 1/4 x bet and e/w stake back

Re: Each Way Betting
 

Are you trying to tell us something ? Which pub are you in ?

Re: Each Way Betting
 

It is £1 each way. £2 total stake.

Re: Each Way Betting
 

You need to know what the person who is taking the bet is offering you on the Ew. Could be anything from 1/2 to 1/5

Re: Each Way Betting
 

I bet on the National 25p each way on that one that came in 5th at 500-1 and got £63 back. :D

Re: Each Way Betting
 

You must have bet with Paddy Power as most only pay out to 4th :D and you got 1/2 odds. There again the Grand National is an oddity in the bookmakers and punters year.

Handicap races with a high number of runners generally pay out 1/4 odds to 4th place.

General races with sufficient runners will pay out 1/5 up to 4th place. The payout can increase to 1/4 with a large number of runners.

The days of different payouts according to place are long gone.

Payouts as the OP requested would be £501 for win. £251 for place with 1/2 odds payout. £126 with 1/4 odds payout and £101 with 1/5 odds payout. However you would also need to ensure you asked for odds at the time of placing the bet otherwise you will get starting odds.

There again you cannot have an outright winner each way bet. It should be one or the other.

Re: Each Way Betting
 

it was bet365 ;)

I don't know anything about betting, save that really anyone could win the national cos of the risks and the rain. :)