Which bookies are paying 5 places is a common question relating to horse racing betting. There was a time in horse racing betting where all bookmakers stuck rigidly to the each-way betting rules set out in the rules of racing. The maximum number of places in any race that bookies used to payout on was 4, and that was only in handicap races in which there were 16 runners or more.
That’s all changed in recent years, with many bookmakers choosing to offer enhanced places on some horse races. For example, some bookmakers now pay out on 5 places in many big handicaps. That’s why many punters ask, which bookies are paying 5 places?
Bookmakers that often offer enhanced terms include Sky Bet, Paddy Power, William Hill, Betfred, and Betfair Sportsbook. Other bookmakers also offer enhanced place terms, and it’s always worth checking which bookmakers are offering the best place terms before you bet.
How Do I Find Out Which Bookies Are Paying 5 Places?
If you only have one bookmaker account, you can normally find out if they are paying 5 places on a race by looking at the race information above the list of runners and odds. If they are paying five places, you’ll normally see each-way terms 1-2-3-4-5. If they’re only paying 2, 3, or 4 places on a race, this will be displayed as 1-2, 1-2-3, and 1-2-3-4.
If you have lots of bookmaker accounts, it can be a pain to check each race on each betting site. However, you don’t need to do this. Luckily, there are odds comparison sites that will do this for you, the most famous being Oddschecker.
Odds comparison sites allow you to click on a race and see the odds and the each-way terms offered by each bookmaker. The number of places is normally shown as the first number, so 4 or 5, etc. This number is then normally followed by a fraction of either 1/4 or 1/5. This fraction is an important number, as this is used to divide the odds of your selection to settle the each-way part of your bet.
For example, let’s say you had a bet of £10 each-way (£20) on a horse at 5/1, 4 places, 1/4 odds, and it placed second. You would divide 5/1 by 4 to get 1/4 of the odds, which in this case would be 2.25 (5/4). You’d then multiply £10 by 2.25 to get a total return of £22.50 and a profit of £2.50.
For comparison, let’s say you had a bet of £10 each-way (£20) on a horse at 5/1, 5 places, 1/5 odds, and it placed second. You would divide 5/1 by 5 to get 1/5 of the odds, which in this case would be 2.00 (evens). You’d then multiply £10 by 2.00 to get a total return of £20.00, resulting in you getting your £20 back.
Should I Always Take Enhanced Placed Terms?
The question of whether you should always take enhanced place terms is open to debate. As highlighted in the example above, you would be £2.50 better off by betting on your horse at 1/4 odds 4 places rather than 1/5 odds 5 places in this scenario.
But what if your horse had finished fifth in the example race. If you had bet on it at ¼ odds 4 places, you would have lost your £20. If you had bet on your horse at 1/5 odds 5 places, you would still have got your £20 back.
There is no 100% correct answer when it comes to taking enhanced placed terms or not. What we’d recommend is a careful thought process as to where you think the horse you’re betting on will finish.
You may think your horse has a good chance of winning, and that there are only two horses that you think can possibly finish in front of it. In this scenario, you should probably take the ¼ odds 4 places. You’re confident that your horse will finish in the first four and you’ll make slightly more profit if it does.
But if you think there are at least four dangers to your horse, then taking 1/5 odds 5 places would seem a better idea. This way you will still get your money back if it comes fifth.
Just remember that it is impossible to be right all the time when dealing with enhanced odds. You just need to be right more often than you’re not. This is the way to produce the type of long-term profits from horse racing that you should be looking to make.
Do Any Bookmakers Offer More Than 5 Places?
The world of online racing is so competitive that some bookmakers are pushing the boundaries of enhanced place terms to new limits. You can now often get 6 places in the biggest handicaps each week, especially at the biggest meetings such as Royal Ascot, the Qatar Goodwood Festival, the Yorkshire Ebor Festival, and the Cheltenham Festival. Bookies have even been known to offer eight places on the Grand National.
What you need to consider when such massively enhances placed terms on offer is are you also getting the best odds? For example, the first bookmaker may offer a horse at 10/1, 1/4, odds 4 places. The second may offer 9/1, 1/5 odds, 5 places, and the third may offer 8/1, 1/5 odds, 6 places.
You again need to make the decision of which offer you think is best. Do you think your horse has a good chance of winning, which is where the real profits are made, or are you betting on it because you’ll think you’ll make a small profit from it placing? If you think it will place, where do you think it will place?
How Do You Decide What Are The Best Enhanced Place Offers?
If you’re struggling to decide what are the best enhanced-place terms or just struggling to pick winners, our professional horse racing tipsters include all this advice in their subscription services. Some free tips are also available. If you mainly want to bet each-way, just make sure you choose a tipster that shares your ethos on betting each-way on the horses to make profits.
We hope that’s answered your question, which bookies are paying 5 places. If you want any more advice about horse racing betting, you’ll find loads more interesting articles here on the Betting Gods blog. Happy punting!