WIN • PLACE • EACH WAY • LAY
Betting on horse racing isn’t as complicated as it first looks. Once you know the basics, it’s easy to follow, and Racing Buddy will always be there to guide you. Here’s how the four most common bet types work:

WIN BET

A Win bet is the simplest and most popular wager. You’re backing your horse to finish 1st place.

- If it wins, you’re paid out at the odds you took when placing the bet.

- If it finishes anywhere else, you lose your stake.

Win bets are higher risk but higher reward, all or nothing. They’re ideal when you’ve got a strong fancy, such as Buddy’s Best Bet.

PLACE BET

A Place bet gives you more ways to win because your horse doesn’t need to finish first.

- Depending on the number of runners and the bookmaker’s rules, places can pay out on the top 2, 3, 4, or even more.

- 5–7 runners - usually top 2.

- 8+ runners - usually top 3.

- 16+ runners (big handicaps) → often top 4 (sometimes 5 or 6 in specials).

- Payouts are smaller than a Win bet because it’s easier to place than to win.

This type of bet is popular for longshots that may not win but still have a strong chance of finishing in the frame, like Lively Outsiders.

EACH WAY BET

An Each Way bet is really two bets in one:

1. Win Bet – your horse to win.
2. Place Bet – your horse to finish in the places.

That means your stake is doubled (a £10 Each Way bet costs £20).

- If your horse wins - you collect on both the Win and Place parts.

- If your horse places only - you still get paid on the Place part.

- If it finishes outside the places - both parts lose.

The Fractional Odds Rule:

When your horse places (but doesn’t win), bookies don’t pay out at the full odds. Instead, they pay a fraction of the odds, usually 1/4 (a quarter) or 1/5 (a fifth), depending on the race and bookmaker.

Example:

- You back £10 Each Way (£20 total) on a horse at 10/1, with place terms 1/5 odds for the top 3.

- If the horse wins, you win £100 from the Win part (10 × £10), plus £20 from the Place part (10/1 reduced to 2/1 at 1/5 odds, × £10). Total = £120 profit plus your £20 stake back = £140 return.

- If the horse places only, you just win the Place part (£20 profit plus £10 stake back). Total return = £30.

This structure makes Each Way betting especially attractive for big-priced runners, even if they don’t win, the place payout can be rewarding.

LAY BET

A Lay bet flips the script. Instead of backing a horse to win, you’re backing it to lose.

- If the horse is beaten (finishes anywhere except 1st), you win.

- If the horse wins, you pay out, sometimes more than your stake, because in effect you’re acting like the bookmaker.

Lay bets are powerful for spotting overhyped favourites the market has priced too short. Racing Buddy highlights these situations so you can profit when the favourite fails to deliver.

Racing Buddy Tip:

- Use Win bets for strong fancies.
- Place bets for safer, steady returns.
- Each Way bets when you fancy a big-priced runner but want cover.
- Lay bets when you believe a short-priced horse is vulnerable.