Paddy Power is a land-based and online bookmaker renowned for its love of horse racing. You will find evidence of just how much this multinational bookie loves the sport of kings from the promotions, special offers and free bets they offer customers.
Traders cover day-to-day racing from around the globe, focussing on the UK and Irish schedule but the betting app really comes into its own when the big meetings and festivals are shown live on terrestrial television. This is where Paddy Power separates itself from the rest of the competition.
When placing a bet on a major race, such as the Grand National, Cheltenham Gold Cup or the Ebor it’s likely you’ll ask yourself how many places does Paddy Power pay? Knowing the answer to this could prove the difference between making a profit and losing your stake money on horse racing bets.
How many places does Paddy Power pay?
The question of how many places does Paddy Power pay could apply to many sports. Places refer to the number of finishers that will be paid out on an each-way bet and you can gamble each way on horse racing, greyhound racing, golf, rugby, snooker, football and more. Any sports fixture with more than two runners often have each-way options but the most popular is horse racing as the fields are often large with most events having seven or more competitors available to bet on.
How many places are paid each way depends on the number of runners. The more potential winners the less chance of you predicting the winner but more places will be paid each way.
Before placing an each-way bet it’s important that you study the place terms and find out how many runners are involved, how many places are paid and the fraction, such as ½ the odds for a place, ¼ the odds or ⅓ the odds. Let’s look at some examples.
Last year’s Cheltenham Gold Cup had a large enough field that three places were paid and you would have seen the place terms listed as ⅕ the odds 1-2-3. That means your selection needed to win to return the biggest profit or finish second or third to return the place money which was paid at a ⅕ of the odds. A 25/1 runner up would pay 5/1.
The rules on horse racing each way are listed below;
- Less than 5 runners: WIN ONLY
- 5-7 runners: 1st & 2nd place @ 1/4 odds
- 8+ runners: 1st, 2nd & 3rd place @ 1/5 odds.
- Handicaps 12-15 runners: 1st, 2nd & 3rd place @ 1/4 odds
- Handicaps 15+ runners: 1st, 2nd, 3rd & 4th place @ 1/4 odds
Promotions and Specials May Affect Number Of Places Paid
Paddy Power are known in the online gambling industry for their love of offering customers promotions and specials. They do this to entice new customers to sign up for an account or to drive repeat business. These deals are often available on the biggest races of the year, such as the Cheltenham Festival, Aintree Festival or the Ebor Festival. Offering customers better place terms than they’ll get at the competition encourages them to gamble at Paddy Power.
An example of this type of promo can often be found in the Grand National when Paddy Power offers improved bet terms. The basis for a race the size of the Aintree showpiece is ¼ the odds 1-2-3-4, but many bookies are generous enough to stretch to five places, but Paddy Power will often go above and beyond that, extending it to ¼ the odds six places.
This is huge, and it could make the difference between making a profit and losing your stake money. For example, if you take a punt on a 100/1 shot each way in the Grand National with a company paying ¼ the odds four or five places and your pick ends sixth, you lose your stake money. If you gambled at Paddy Power on six places, you would receive payment of ¼ the odds of the 100/1.
Enhanced each-way is an excellent promotion for Paddy Power as it helps them stand out from the crowd on the big races in an already crowded market. It’s perfect for each way bettors as it increases their chance of landing a profit.