Grand National Each-Way Betting & Place Odds: Guide 2026

Check out our Grand National Runners A-Z Guide or our Grand National Runners hub with star ratings to help you find the horse to back. 

Grand National Each-Way Betting & Place Odds: Guide 2026

Each-way betting is one of the most popular ways to approach the Grand National at Aintree. Central to each-way betting is the place part, the section of your bet that pays if a horse finishes within a set number of positions, usually the top 5–7 depending on the bookmaker.

This guide explains place odds, how to identify value in place bets, and demonstrates worked examples for each-way wagering in the 2026 Grand National.

What are place odds?

Place odds are the fraction of the win odds that a bookmaker pays out if your horse finishes in the designated place positions.

• Example: A horse at 20/1 with 1/5 place terms pays 4/1 for the place portion of your bet if it finishes in the place positions.
• The number of place positions in the Grand National is often extended due to the large field (up to 34 runners), typically paying for the top 5 or 6 places and sometimes more.

Each-way betting and placement odds allow bettors to back horses who may go close but are less likely to win.

Why place bets can offer value

In a race as unpredictable as the Grand National:

1. 1. Field size increases unpredictability – Even strong horses can struggle to win.
2. 2. Long distance and fences – Stamina and jumping ability are more relevant than speed.
3. 3. Higher likelihood of finishing in the places – Many horses are capable of a top-four or top-six finish, even if they are not favourites to win.

By taking advantage of the place part of each-way bets, bettors can come out with a decent return, even if their selections don't win.

How each-way betting works

An each-way bet combines win and place stakes:

• Win portion: Pays out if the horse wins.
• Place portion: Pays out if the horse finishes in the designated places.

Example:

• Stake: £5 each-way (£10 total)
• Horse odds: 20/1
• Place terms: 1/5 (top 5 places)

Place calculation:

• Place odds = 20 ÷ 5 = 4/1
• Place return = £5 at 4/1 = £25 returned in total including stake

Total return if horse wins = £130 (£105 from the win part and £25 from the place part)

This illustrates how the place portion can deliver a return even if the horse does not win.

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Selecting each-way and place bets for the Grand National

When choosing horses for each-way bets with value in the place market:

1. 1. Look for horses priced 5/1 or bigger – this means if your horse places you would break even.
2. 2. Focus on stamina and course experience – Horses with proven long-distance form or Aintree experience are ideal.
3. 3. Check bookmaker place terms – Some bookmakers pay up to 6 or 7 places, which can improve the likelihood of each-way payouts.

Final Word

Each-way betting is ideal for large-field races like the Grand National.

• Place odds offer value even if a horse doesn’t win.
• Look for mid-priced horses with stamina and Aintree experience.
• Always consider bookmaker place terms to maximise potential returns.
• Use worked examples to understand how your stake translates into potential returns.
• By understanding place odds and selecting horses carefully, bettors can approach the Grand National with a measured and informed strategy.

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