When is the best way to bet each way?

[Gingertipster]

PL have probably covered this before but as I was asked by Mowgli about why I seldom bet each-way thought I would ask it anyway. When is the best time to bet each-way? Of course if a horse is thought value at a certain price then it is value for both a win and an each way bet. However, the best value is usually in the win bet. In a 16 runner handicap we get 1/4 the odds for being in the first 4 (1/4) of the field. That is fair and have no problem doing so if only one or two horses are likely to be value. But if there is a non-runner most bookies for 15 runners pay 1/4 for the first three (1/5th of the field). So I have to consider are there likely to be any non-runners? If so I will probably stick to the win only. Many punters will usually bet each-way in big handicaps where all the runners are at say 5/1 plus. However lets say there are 32 runners. To be as good value as a 16 runer field it should be paid out for more places. But those bookies do not, they pay on exactly the same (4) as a 16 runner field (half the number). So it is in fact best to back win only. Possibly backing 2,3 or 11 horses just to win. I certainly do not wish the bookies to pay out on so many places. To allow for the pay out of each way bets a bookie has to offer smaller prices for win only backers. I wish there were no each way betting! That is not to say it is always best to bet win only. Where there is an odds on or short priced favourite. In bets nearer to off time where I believe only one horse is value I will bet each way if the circumstances are right (16 or 5 runner handicap or against a short priced favourite). Sometimes I bet ew even when I will lose money with the place bet. A bet on a 100/30 or 7/2 chance at 1/4 the odds when there seems a negligable chance of not being placed, is almost a free win bet. Ante-post bets are seldom value. Doubling the amount bet just for what amounts to a saver, and at the risk of injury / no show. Best in my opinion to have a win bet, then I can back others to win that might also be value, back savers / lay my selection on the day. Have made an exception with Exotic Dancer 6/1 for the King George. Against a short priced fav, seems a sound horse so should get there, can not see him out of the first 3 and is value (got a better than 14.3% chance). Yes, you have to be able to take it when a 31/1 or 22/1 horse finishes 2nd like they have for me this weekend. But had that 31/1 shot Magic Sky jumped the last well and probably won, would we be having this "conversation". I would either have to half my win stake (for same overall stake) or double the overall stakes (risking more). If someone backs 3 horses each way he is effectively backing 3 horses to win and 3 savers. Exactly the same as me having 6 win bets, 3 as main bets and 3 savers. Yet if their 3 (in this case but usually 1) selections run poorly, he loses where as I may have another 3 running for me. To be continued.

[mowgli77]

Re: When is the best way to bet each way? With the ability to have a place bet on the exchanges the each way bet for me has changed. If I had £100 to put on a horse I would have to put £50 each way or put say £30 ew and £40 win. Instead I can now split that stake and have say £30 win and £70 place on Betfair. It depends how confident in the horse you are backing and what you consider value for the win or ew part of the bet. If you are backing 5 or 6 horses in a field you can't really say you are too confident in any one selection but I see the idea of varying stakes and having a lot of the field covered. I liked the price of Exotic Dancer yesterday on Betfair (about 9.2) but still didn't think it would beat Kauto so I backed it to place instead at lower odds and got paid out. I noticed that Gingertipster had backed Kauto for £90 and also backed Exotic Dancer but both to win. I thought it was an opportunity to get paid out for a win on Kauto and a place on Exotic Dancer as any profit on Kauto is reduced by the bet on Exotic Dancer. I often use the place bet as a covering bet if the odds are quite high on my selection and can see a fair few in the field as dangers, some people have a threshold that they will bet ew (such as 6-1) but that is down to the individual. I also mentioned ew/place betting in Bowles' thread as I have the utmost confidence in both Bowles' and Gingertipsters selections but it is frustrating to see a punter getting 2nd and 3rd placed horses at double figure odds when nthey have backed 4 in the field but all to win. We all like to find a winner and profit is the name of the fame but minimising loss is also important in situations like this. :ok