Eachway vs. Straight Wins

I am interested to get some views about backing a horse for wins only, or backing it eachway.

The vast majority of the time I only back for a win as I don't find there to be that much value in the fixed place odds, besides ante-post betting. (That and the fact that my horse usually runs in the bush when it doesn't win ). I would rather have a full strike on the win than cover with an eachway.

However, I always debate the relative merits of an eachway versus straight win bet after having a number of close up second and third place finishers.

What approaches, and in what circumstances, do you take to backing eachway or straight wins and how has it worked out for you?

Fixed odds places will obviously be very cramped for horses priced up at 2/1 and shorter, so maybe the question is aimed more at horses in the 3/1 - 7/1 range (and longer). It would still be interesting to hear if anyone does take an eachway approach for short-priced horses. Pocket Power might be a good example of this in the ante-post July betting (2/1 a win and 5/10 a place must have been a popular bet), although that one did not work out too well.

I don't personally, but I do know someone who bets fair sized down to 7/2 e/w (1/5th) = so if for instance its a £100 e/w and it finishes 3rd hes got all but £30 back on is 'investment'.

I sometimes back each way, the way my punting goes I should back each way all the time as I have this rediculous knack of finishing 2nd!

I find there is often incredible value in backing each way with the UK firms and often will have straight place bets on Betfair without even having a punt on the win.

Taking a place bet can reduce risk significantly and is a great way to collect on a long shot despite it not winning. The problem in SA is that the fixed place bets offered by the local betting firms are at prohibitive odds and the tote payouts arnt that much better.

The bottom line in punting is if a horse is overpriced its worth a bet, if its underpriced its worth a lay. This applies to win and place bets in their own right...

Normally on the nose of a fav, however if the price is right nothing wrong with a good e.w. Eruption last weekend was a good example

Go Eachway on ONE WAY today.

Thanks for your views.

It's having 2 models.

1. selection model..
which racecourse
which races..
which stables..
which jockeys..
which draws..
what price/odds..

2. financial model..
10% of the pool..
see the attachment for 30 bets at even money..

its a statistical business, not an emotional business..
look at it from bookmakers perspective..
33% of fav win..

hence, most bookmakers follow the following rule..

stand the fav for R10k AND the 2nd fav for half (R5k)..irrespective if the horse is called pocketpower or not.

Attached files Book1.xls (19 KB)Â