Last Updated on 19/05/2026 by Andy Clark
Today’s each-way bet of the day from Henry Gibbs is below — one carefully-selected horse from today’s UK and Irish racing where each-way terms make the place return genuinely valuable.
Updated daily before the first race, with full reasoning, place terms, and our recommended Best Odds Guaranteed bookmakers.
For each-way betting strategy, place-term explanations, how to size an each-way stake, and FAQs, scroll past today’s selection.
Today’s Each-Way Bet of the Day
Henry’s each-way selection for today:
Back Today’s Each-Way Bet at Betfred →
Betfred is our recommended each-way bookmaker for Best Odds Guaranteed from 7am on race day. Odds correct at time of writing. 18+. T&Cs apply.
Free Bets for Today’s Each-Way Bet
If you don’t already have an account at a Best Odds Guaranteed bookmaker, claim a welcome offer first — BOG significantly improves each-way returns over the long run.
For more horse racing welcome offers, see our horse racing free bets hub and Best Odds Guaranteed guide.
What Is an Each-Way Bet?
An each-way bet is actually two bets in one — half your stake goes on the horse to win, and the other half goes on the horse to place (finish in a paid place position). Because each-way is two bets, the total stake is double the unit stake.
Example: A £5 each-way bet costs £10 total — £5 win + £5 place.
If your horse wins, both portions pay out (win bet at full odds + place bet at reduced terms). If your horse finishes second, third, fourth or fifth (depending on the place terms), only the place portion pays out.
How Each-Way Place Terms Work
Different races have different each-way terms based on field size:
| Field Size | Race Type | Places Paid | Place Fraction |
|---|---|---|---|
| 5-7 runners | All races | 1, 2 | 1/4 odds |
| 8+ runners | Non-handicap | 1, 2, 3 | 1/5 odds |
| 8-11 runners | Handicap | 1, 2, 3 | 1/5 odds |
| 12-15 runners | Handicap | 1, 2, 3 | 1/4 odds |
| 16+ runners | Handicap | 1, 2, 3, 4 | 1/4 odds |
| Major festivals | Enhanced | 5+ places | Various |
Key takeaway: Big-field handicaps (16+ runners) pay four places at 1/4 odds — far more generous than small-field races. Henry’s each-way bet of the day typically focuses on races with strong place-term value.
What the “1/4 Odds” Place Fraction Means
If your horse is priced at 10/1 and places, the place portion of your each-way bet pays at 1/4 of the win odds — so 10/1 becomes 2.5/1 on the place portion.
Worked example:
- £5 each-way bet (£10 total stake) on a 10/1 horse
- Horse finishes 3rd (paid place position)
- Win portion: LOSES (£5 lost)
- Place portion: WINS at 2.5/1 (£12.50 profit + £5 stake = £17.50 return)
- Net result: £7.50 profit on £10 total stake
If the horse had won, the full each-way bet would have returned:
- Win portion: £50 + £5 stake = £55
- Place portion: £12.50 + £5 stake = £17.50
- Total return: £72.50 on £10 stake (£62.50 profit)
When to Bet Each-Way vs Win Only
Not every horse race suits an each-way bet. Henry’s daily each-way bet of the day applies a clear framework for when each-way works and when win-only is the better play.
Each-Way Works Best When:
1. The horse is priced 5/1 or longer. Each-way at shorter prices (4/1 or below) typically doesn’t return enough on the place portion to justify the doubled stake. The place portion at 4/1 only pays at 1/1 — minimal profit even if it places.
2. The race has 8+ runners. Smaller fields pay only 2 places, reducing the each-way chance significantly. Look for fields of 8+ for non-handicaps, and 12+ for big-priced handicap value.
3. Big-field handicaps with extra places. Festival meetings (Cheltenham, Royal Ascot, Glorious Goodwood, Grand National) frequently offer extra place terms — 4, 5 or even 6 places paid. These are prime each-way targets.
4. The horse has form figures showing it places consistently. A horse with form 0-2-3-2 across recent races is a strong each-way candidate — it’s not winning consistently, but it’s hitting the places. Win-only punters dismiss these horses; each-way punters target them.
Each-Way Doesn’t Suit When:
1. The horse is priced shorter than 4/1. The place portion returns too little to justify the doubled stake.
2. The field is small (5-7 runners). Only 2 places paid means each-way value erodes quickly.
3. The horse’s form is win-or-bust. Some horses either win or finish nowhere — they don’t typically hit places. Front-runners in soft going, horses dropping significantly in trip, or horses up significantly in class often fall into this category.
4. The race terms are 1/5 odds at shorter prices. A 6/1 horse in a 1/5-odds race pays only 1.2/1 on the place portion — marginal value.
How Henry Picks the Each-Way Bet of the Day
Henry Gibbs covers both flat and National Hunt racing at thatsagoal.com, producing a daily Nap, each-way bet and Lucky 15 tip throughout the year. The each-way bet of the day specifically targets longer-priced horses with strong place chance — typically 6/1 to 25/1.
Henry’s daily each-way methodology:
1. Field size and place terms first. Henry filters to races with 8+ runners (preferably 12+ in handicaps where 1/4 odds apply). Festival meetings with extra places always get priority each-way attention.
2. Place form rather than win form. A horse that’s finished in the top three in 5 of its last 8 starts is a stronger each-way candidate than a horse with one win in eight. Place consistency is the trait Henry weights heaviest.
3. Course and distance proven. Each-way bets at unfamiliar courses or untested distances carry extra risk. Henry favours horses with course wins, course places, or proven form at the exact trip.
4. Trainer and jockey strike rates at the course. Some trainer-course combinations consistently produce placed horses (e.g. Mark Johnston handicappers at Pontefract, Jonjo O’Neill at Cheltenham). Henry weights these patterns heavily.
5. The market position. Each-way value often sits with horses drifting in the market when underlying form suggests they should be shorter. Henry checks the price movement throughout the morning and looks for horses where the place chance exceeds the implied each-way odds.
6. Avoiding obvious traps. Henry avoids horses with stamina questions in soft ground, horses moving up significantly in class for the first time, and horses fitted with first-time blinkers (which can affect any horse unpredictably).
For Henry’s other daily tips and weekly coverage, see his author profile page.
Best Bookmakers for Each-Way Betting
Each-way punters need bookmakers that combine three things: Best Odds Guaranteed, extra place promotions on big races, and competitive each-way terms on borderline-field races (the 8-runner non-handicaps where some bookmakers pay 3 places while others pay 2).
Best Each-Way Bookmaker Comparison
| Bookmaker | BOG From | Extra Places Daily | Each-Way Bonus | Our Pick For |
|---|---|---|---|---|
| Betfred | 7am | ✓ Daily extra places | Some races | Earliest BOG |
| BoyleSports | 8am | ✓ Daily extra places | UK + Irish | Each-way value on Irish racing |
| Coral | 8am | ✓ Daily extra places | Variable | Featured race extra places |
| Ladbrokes | 8am | ✓ Daily extra places | Variable | Loyalty rewards via Grid Card |
| bet365 | 8am | ✓ Selected races | Variable | Best live streaming for in-running |
| William Hill | 8am | ✓ Daily extra places | Variable | Money Back If 2nd |
Henry’s recommended each-way bookmaker: Betfred for the 7am BOG (one hour earlier than competitors, capturing pre-rush prices), combined with their daily extra place races. Worth holding a second account at Paddy Power for festival meetings when they typically offer the most generous extra place terms.
For the full BOG explanation see our Best Odds Guaranteed guide.
Each-Way Bet Calculator — How Much to Stake
Each-way is two bets in one, so the total stake is always double the unit stake. Here’s how each-way costs work at common stake levels:
| Unit Stake (Each-Way) | Total Cost | Win Return at 8/1 | Place Return at 8/1 (1/4 odds) |
|---|---|---|---|
| £1 e/w | £2 | £11 | £4 |
| £2 e/w | £4 | £22 | £8 |
| £5 e/w | £10 | £55 | £20 |
| £10 e/w | £20 | £110 | £40 |
| £20 e/w | £40 | £220 | £80 |
| £25 e/w | £50 | £275 | £100 |
Henry’s standard each-way stake: £5 each-way (£10 total stake). This delivers meaningful returns at typical 6/1-12/1 prices without committing significant capital to any single bet.
Each-Way Bet of the Day at Major Festivals
Henry produces specific each-way bets across the major UK and Irish racing festivals where extra places and enhanced each-way terms make each-way betting particularly valuable:
- Cheltenham Festival (March) — see our Cheltenham festival tips hub and Cheltenham each-way Lucky 15
- Grand National at Aintree (April) — see our Grand National tips hub — the Grand National itself typically pays 5-6 places, making it the season’s premier each-way race
- Royal Ascot (June) — 5-day flat racing festival with extra place promotions across all bookmakers
- Glorious Goodwood (July-August) — flat racing showcase with regular extra place markets
- St Leger Festival (September) — flat finale with extra places on featured races
Festival-specific each-way tips include enhanced commentary on place terms, recommended bookmaker per race, and value identification at the larger fields. For the latest festival coverage including Best Odds Guaranteed and Non-Runner No Bet protection, see our betting guides hub.
Each-Way Bet of the Day FAQs
What is each-way betting?
An each-way bet is two bets combined — half your stake on the horse to win, half on the horse to place (finish in a paid place position). The number of places paid and the place fraction depends on the race type and field size. Each-way bets cost double the unit stake.
What odds should a horse be for an each-way bet?
Henry typically targets each-way bets at 6/1 to 25/1. Below 5/1, the place portion returns don’t justify the doubled stake. Above 25/1, the chance of placing usually doesn’t match the implied odds — though specific big-field handicaps with extra places can change this calculation.
How many places are paid in an each-way bet?
Standard each-way place terms:
- 5-7 runner races: 2 places paid at 1/4 odds
- 8+ runner non-handicaps: 3 places paid at 1/5 odds
- 8-11 runner handicaps: 3 places paid at 1/5 odds
- 12-15 runner handicaps: 3 places paid at 1/4 odds
- 16+ runner handicaps: 4 places paid at 1/4 odds
Festival meetings frequently offer enhanced each-way terms with extra places (5-6 places paid in major handicaps).
What is the difference between 1/4 odds and 1/5 odds in each-way betting?
The place fraction determines how much of your win odds the place portion pays. 1/4 odds is more generous than 1/5 odds:
- A 10/1 horse at 1/4 odds pays 2.5/1 on the place portion
- A 10/1 horse at 1/5 odds pays 2/1 on the place portion
For each-way value, look for races offering 1/4 odds rather than 1/5 odds where possible — particularly in big-field handicaps.
Is each-way betting better than win-only betting?
Each-way is better when you’re backing horses at longer odds (6/1+) in larger fields (8+ runners). Win-only is better for short-priced favourites (under 4/1) in any race, and for any horse in small fields (5-7 runners) where only 2 places are paid.
What is an extra place each-way bet?
An extra place promotion is when a bookmaker pays out on an additional place beyond the standard terms — for example, paying 4 places at 1/4 odds in an 8-runner handicap (instead of the standard 3 places). Extra places significantly improve each-way value and are common during festival meetings and on featured races.
Can I cash out an each-way bet?
Yes — most major UK bookmakers offer cash-out on each-way bets. The cash-out value reflects current odds and your bet’s status. If your horse is leading near the line, cash-out values rise. If it’s struggling, cash-out values fall. Most punters either run their each-way bets to the line or partial cash-out at key points in the race.
Are each-way bets best on flat racing or jumps racing?
Each-way bets work on both codes. Flat racing tends to feature larger field handicaps (Royal Ascot, Goodwood) with extra place opportunities. Jumps racing produces consistent placing horses at longer prices (particularly at Cheltenham and the Grand National). Henry covers both codes in the each-way bet of the day rotation.
What is the minimum each-way bet stake?
Most UK bookmakers accept each-way bets from as little as 10p each-way (20p total stake). Some bookmakers cap minimum each-way stakes at £1 (£2 total). Check individual bookmaker terms — most accept small stakes online but retail shops may have higher minimums.
Can I bet each-way on the Grand National?
The Grand National is the premier each-way race of the year. Most bookmakers pay 5 places at 1/4 odds (some pay 6 places) on the Grand National itself, making it the most generous each-way race in UK betting. For Grand National each-way coverage, see our Grand National tips hub.
Does Henry’s each-way bet of the day include festival enhanced places?
Yes — during the major festivals (Cheltenham, Royal Ascot, Grand National week, Glorious Goodwood), Henry’s each-way bet of the day specifically targets races with extra place promotions. Festival each-way tips will note the enhanced place terms in the daily commentary.
Where can I find the each-way tips for tomorrow?
Henry publishes tomorrow’s each-way bet of the day once the racecards are confirmed — typically around 6pm the evening before. Check back later today or first thing tomorrow morning for tomorrow’s selection.
Is each-way betting profitable long-term?
Each-way betting can be profitable long-term if you focus on big-field handicaps at longer prices, capture Best Odds Guaranteed prices early, target extra place promotions, and avoid each-way bets at shorter prices than 5/1. Most punters who follow a disciplined each-way strategy report better long-term returns than win-only punters, though the win rate (in terms of single-bet hits) is lower because place-only returns are smaller than win returns.
More Horse Racing Tips from Henry
- Nap of the Day — Henry’s single best win bet of the day
- Lucky 15 Tips — Henry’s daily four-horse Lucky 15 selection
- ITV Racing Saturday Tips — Henry’s weekly Saturday preview
- Henry Gibbs author profile — full racing coverage from Henry
- Horse Racing Pundits Tips — pundit consensus tips
Useful Each-Way Betting Resources
- Best Odds Guaranteed guide — when BOG kicks in at each bookmaker
- Non-Runner No Bet explained — protecting each-way ante-post bets
- Horse racing free bets — welcome offers for new horse racing punters
- Lucky 15 Tips — Henry’s four-horse multiple bet
- Cheltenham Festival Tips — festival each-way coverage
- Grand National Tips — Aintree each-way coverage
Back Today’s Each-Way Bet at Betfred — £50 Free Bet for New Customers →
Henry covers both flat and National Hunt racing at thatsagoal.com. Producing a daily NAP, each-way bet and lucky 15 tip throughout the year.