All You Need To Know About “Paying 5 Places” Offers

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When you are betting online, you will probably have seen the option of each way betting and have likely heard bookmakers advertise themselves as “paying extra places”

But what does all this mean? How does the each way bet work? What’s the deal with extra place payouts? How do you find them? How do you make those types of bets? We’ve all wondered these questions and now, at last, you can learn the answers — thanks to Betting.org.

In our easy guide to paying 5 places, we’ll fill in the answers to all of those questions and more! We’ll talk you through what all the betting jargon actually means and give you real, practical tips about finding bookmakers paying 5 places (and maybe more!). We’ll provide a full overview as to how you can go about using those extra place payouts and 5 place payouts in your betting strategy.

What Does It All Mean? Each Way And Paying Places Explained!

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Each way and place bets can be offered on any sport where there are multiple runners, racers, or participants. So you’ll find them in horse racing, greyhound racing, motorsports, and more, but not on bets for football, tennis or other sports where there are just two competitors!

Let’s start with the simplest type of bet – the win bet. You put your money on the horse, golfer, or racing driver you hope will win, at odds offered by the bookie. So a 10/1 (11.00) bet with a £10 stake on Rory McIlroy to win golf’s US Masters would return £110 (your £10 stake plus £100 profit) if he wins the tournament.

But an each way bet is more complicated. Essentially you are placing two bets: one bet is a standard win bet, the second is for a place. Originally this meant that if the horse, dog, golfer etc came second, but as we’ll discuss, place bets are now offered for finishing second, third, fourth, and with some bookies, offering each way bet 5 places or more! As you have a higher chance of a return on your place bet, the bookie offers it at a fraction of the win odds, usually 1/4 or 1/5.

It’s complicated, but essentially just think of it this way: Each way bets make it more likely that you will get some form of return on your bet. The more places are offered by the bookmaker, the greater that likelihood is. So, a bookie paying three places each way is good, but a bookie paying 5 places is better!

To explain things further, we’ve put together a simple example for you, again using Rory McIlroy at the US Masters. Read on for the full break down!

How Does The Each Way 5 Places Work?

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To help you understand the principle better, here’s a worked example.

McIlroy has odds of 10/1 (11.0) and, in our example, we’ll be putting a £10 each way bet on, which pays for 5 places at 1/4.

  • The £10 each way bet costs £20 in stake – that’s £10 stake for the win bet part, £10 stake for the place part.
  • If McIlroy wins (hooray!):

    • You win both the win bet and the place bet:
    • The win bet pays out at 10/1 odds, returning you £110 (£10 win stake plus £100 win profit)
    • The place bet pays out at a quarter of the 10/1 win odds. This works out to 2.5/1 or 5/2 (3.5) odds. The £10 place bet at 5/2 (3.5) odds returns £35 (£10 place stake plus £25 place profit).
    • So, for the win, your £20 stake returns you a total of £145 (£20 total stake, £125 total profit)
  • If McIlroy comes second, third, fourth, or fifth:

    • You have lost the win part of the each way bet, but you still win the place part of the each way bet.
    • The place bet pays out at a quarter of the 10/1 win odds. This works out to 2.5/1 or 5/2 (3.5) odds. The £10 place bet at 5/2 (3.5) odds returns £35 (£10 place stake plus £25 place profit).
    • So, for the place, your £20 stake returns you a total of £35 (£20 total stake, £15 total profit)

When To Look For 5 Places Offers?

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Obviously, when you’re placing your bets and you want an each way bet, you want to find the bookies offering multiple places. However, this is often easier said than done, and you can find yourself wondering which bookies are paying 5 places? And when do they do this?

The answer is that paying 5 places is becoming more and more common. In today’s highly competitive betting market, all it takes is one bookmaker to start offering each way bet 5 places and the rest will have to offer the same just to stay competitive!

You are most likely to find bookmakers paying 5 places at the really big events, such as the Grand National, Epsom Derby, US Masters, The Open etc. These are huge events that attract a lot of betting action and in the last few years, it’s been commonplace to find bookies paying 5 places on these events. The trend that began with the big races has continued, and nowadays, even regular races can be found with bookmakers offering 5 places.

For example, a quick look prior to the 2018 Grand National showed us that several bookies were offering each way bets paying four places. In particular, 888Sport, BetBright, Betfred, and Betway were all offering places at 1/4 odds.

But we didn’t want four places, we wanted five! So we found these bookies paying 5 places: Betfair, Boylesports (both paying 1/5 odds) and Coral, Ladbrokes, William Hill ( all paying 1/4 odds). And seeing as Coral, Ladbrokes, and William Hill are regularly featured in Betting.org’s top 10 bookmakers lists, these were the bookies we paid most attention to. After all, five bookies paying 1/4 odds are better choices than those paying 1/5 odds!

Can You Get Better Than Paying 5 Places?

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What’s better than paying 5 places? 6 places! Oh yes, finding bookmakers paying for 6 places might be rare, but it’s certainly possible. Again, as each way bet 5 places becomes more commonplace, competition is playing a part and now bookies are trying to catch your attention by offering even more places in a horse race.

Again, looking at the 2018 Grand National, we found that both BetVictor and Paddy Power were paying out for the first six places, albeit at just 1/5 odds. That meant if you put a bet on sixth place finisher Road To Riches at 33-1 with William Hill, you were out of luck! But if you put the same bet on with Paddy Power, you were quids in!

It’s never too early to start looking for the extra places offers. We found that 888Sport, BetVictor, and Betway are already offering bets on the 2019 Grand National paying 6 places each way (at 1/5 odds) — and that’s with (at the time of writing) nearly 10 months to go!

But the intrigue doesn’t stop at paying 6 places, oh no, not at all. Granted, finding events paying more than 5 or 6 places is rare, it’s usually only in events where there are a large number of competitors, and you’ll most likely find the extra places at 1/5 odds. For example, the 2018 Masters Golf at Augusta had Coral offering 10 places at 1/5 odds. Ten places!

However, as you start to look at higher and higher number of places offered, always remember that there has to be a trade-off somewhere. At the Masters, Coral offered 10 places at 1/5 odds while Betfred offered 5 places at 1/4 odds. And generally, Betfred were offering better odds. So it’s really a case of working out who pays what and making your choice from there. Backing Marc Leishman (finished 9th) at Coral would have been worth it for sure, but if you had winner Patrick Reed, you probably have gotten a better result from Betfred!

How Do You Know How Many Places Are Being Paid?

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So, now you know all about each way place betting and how it can really benefit your betting strategy. But, how do you find out how many places each bookie is paying on?

The answer to this is that it pretty much depends on the bookmaker. As with all betting advice, a little knowledge is a great thing. When it comes to details on how many places are paying and what fraction they are paying at, you’ll often find the answers in the bookie’s terms and conditions. In there you’ll see that bookies have definite formulas for places and fractions. For example, numbers of horses or dogs in the field makes a difference; so 2-4 runner races might only pay win-only whereas 5-7 runners might only pay 2 places.

But with most bookies, you’ll be able to find the essential place and fraction info right there in the event list. After all, bookies want you to know when they have a good deal available! What’s more, with the major event, you’re likely to see plenty of discussion about extra places deals across their website and advertising campaigns!

A Duo of Tips For Paying 5 Places Offers

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Top Tip #1 – Look For The Best Fraction Odds On Your Each Way Bet 5 Places!

When you want to find a bookmaker paying 5 places, it’s important to realise that not all bookies are equal! Some bookies will offer you 5 places at 1/5 odds, which seems good, but there are some that offer the same bet at 1/4 odds… and that’s so much better!

If you want figures, we’ll go back to that Rory McIlroy example of a £10 each way bet at 10/1 (11.00) odds. If you place your bet with bookmakers paying 5 places at 1/5 odds and he finishes anywhere between 2nd and 5th, you’ll get a return of £30. However, if you another bookie offering the same 5 places at 1/4 odds, that same bet will return £35. It might only be £5 difference, but it’s an extra £5 for doing nothing but undertaking a little extra research!

Top Tip #2 – Always Check The Odds!

It might be tempting to always go with the bookie you know has offered 5 places in the past, but before you do, it’s worth thinking about how they do this! Some bookies who are paying 5 places will offset these losses by offering weaker odds for the win. So, when seeing which bookies are paying 5 places for your chosen race or event, it’s always worth running the selection through an online odds checker. And here at Betting.org we have the solution with our fabulous Odds Comparison Tool. It’s free and it’s fast: all you need to do is put your race selection in and within seconds you’ll see a list of the bookies offering the very best odds for the race! Find the bookies offering each way bet 5 places on this list and you’re good to go and make your bet!

Paying 5 Places – Your New Favourite Choice For Horse Racing Betting!

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As you’ve seen in our guide to betting on events paying 5 places, these offers are a great way to get the most potential returns from your betting! Yes, it’s great to put a fabulous win-bet on a rank outsider at 200/1 (201.0) but if you’re the sort of bettor who would rather win less money but more frequently, each way bets are definitely the way to go.

Furthermore, when it comes to placing each way bets you shouldn’t be happy with a bookie paying for just three or four places. More and more, you can find great bookmakers offering really good odds on races, and who will pay for 5 places to boot. Given the fact paying 5 places offers are fairly widespread these days, why accept anything less?

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