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What is an Each Way Bet & How it Can Work for You on Gold Cup Day at Cheltenham

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On Cheltenham Gold Cup day, smart punters are placing each way bets on the fourth and final day of the Festival?

What is an Each Way Bet

An each way bet is where you bet on a horse both to win a race but also place. That means the unit stake on the bet doubles. A £5 each way bet costs you £10 – £5 going on the win and then another £5 for the place.

While there are standard place terms that all horse racing betting sites follow, the bookies are often feeling generous at Cheltenham. In a race with four or fewer runners, each way bets can’t be placed. However, this wager is available on events with five or more horses competing.

If there are between five and seven runners, the place terms are a quarter of the outright win price on first and second. When eight or more horses take part, the least you can expect is three places. Depending on the size of the field and type of race, the fraction of the outright win is either a quarter or a fifth.

How an Each Way Bet Can Work for You on Gold Cup Day

There are plenty of large fields declared on Gold Cup day, so expect plenty of what they call extra place races on the final day of the Festival. Some bookies don’t just play on first, second and third on the big race but fourth and even fifth place.

The reason why top betting sites do this is simple. They want to attract betting interest on the Cheltenham Gold Cup but it doesn’t stop there. There is a lot of attention on the big race, which they call the blue riband event of steeplechases because the best jumps horses take part.

Away from the Gold Cup, there are a number of other races on the card which pay extra places. The County Hurdle (2:10) often sees the bookies offer six, seven and even eight places. This Grade 3 handicap over an extended 2m is a tricky one for punters.

Prior to that, there is also the Grade 1 JCB Triumph Hurdle (1:30). The best four-year-old hurdlers in training take part in the race. Some bookmakers pay on fourth place here, again as incentive to get you to bet.

Just before the Gold Cup, the Grade 1 Albert Bartlett Novices Hurdle (2:50) over 2m also has a big field. There are four and five places on offer for this race.

Despite just a final field of 11, the Cheltenham Gold Cup itself (3:30) is an extra place race for each way bets too. Most bookies have four places available overnight here.

A race for amateur jockeys, the Festival Open Hunter Chase (4:10) that follows the Gold Cup pays four or even five places. Finally, the Martin Pipe Conditional Jockeys Handicap Hurdle (5:30) that brings the curtain down on the Festival has five and even six places on offer.

Each Way Cheltenham Tips for Gold Cup Day

These are SportsLens experts’ Cheltenham tips for Gold Cup Day for those looking for an each way bet or two:

  • 1:30 JCB Triumph Hurdle – Porticello (4 places) @ 14/1 with Virgin Bet
  • 2:10 County Hurdle – Tax For Max (5 places) @ 18/1 with Virgin Bet
  • 2:50 Albert Bartlett Novices Hurdle – Shantreusse (4 places) @ 10/1 with Virgin Bet
  • 3:30 Cheltenham Gold Cup – Royale Pagaille (4 places) @ 12/1 with Virgin Bet
  • 4:10 Festival Open Hunters Chase – Cousin Pascal (4 places) @ 14/1 with Virgin Bet
  • 5:30 Martin Pipe Conditional Jockeys Handicap Hurdle – Banbridge (5 places) @ 12/1 with Virgin Bet

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