What is the difference between a 'Place' and an 'Each Way' bet?

Short Answer: A Place bet only wins if your horse finishes in the top positions (usually 1st, 2nd, or 3rd). An Each Way bet is actually two separate bets: one for the horse to win and one for it to place.

1. The Each Way Split

If you put R10 Each Way, your total stake is R20. If the horse wins, you win both bets. If the horse finishes 2nd, you lose the 'Win' bet but win the 'Place' bet. This is a popular 'safety first' strategy for long-shot horses.

2. Place Terms

The number of 'places' paid depends on the number of runners in the race. In a small field of 5-7 horses, usually only the top 2 places pay. In a large handicap with 16+ runners, bookmakers often pay out up to 4th or 5th position.