The place terms matter as much as the price
A racing bet slip needs more than a horse and a set of odds. The bet type, number of paid places and applicable deductions can all change the return.
Read those terms before confirming. A place in everyday conversation is not necessarily a paid place under the selected market.
Win, place and each-way
A win bet backs the horse to win the race. A place bet backs it to finish within the positions specified by the market.
An each-way bet contains two stakes: one on the win and one on the place. R20 each-way therefore costs R40 altogether.
A worked each-way example
Suppose the win odds are 6.00 and the place terms are one-quarter of the fractional win odds. The fractional win odds are 5/1, so the decimal place odds are 2.25.
| Outcome | Total return | Net result |
|---|---|---|
| Horse wins | R165 | R125 profit |
| Horse places only | R45 | R5 profit |
| Outside paid places | R0 | R40 loss |
This assumes both parts settle without deductions or a dead heat. The each-way calculator helps with the arithmetic, but you must enter the actual place fraction.
Fixed odds and pools are different
Fixed-odds bets use the price accepted on the slip, subject to the operator's settlement rules. Pool bets share a pool under the relevant rules, so a displayed estimate is not the same as a final dividend.
Before the field changes
- Check the rule for a non-runner.
- Check whether a withdrawal changes the paid places or creates a deduction.
- Check how dead heats are settled.
- Check whether tax or other deductions apply to the selected bet.
Don't assume the return shown when the bet was placed is the final amount after every possible adjustment. Keep the bet reference and the terms attached to it.
Price the whole stake
Each-way betting can look like one small stake while committing twice that amount. Count both parts against your spending limit before confirming.