1 4 vs 1 5 Each-Way Odds
Why the numbers matter
Look: when a bookmaker posts 1 4 or 1 5 each-way, they’re not just sprinkling decimals for fun. Those fractions lock in the payout you’ll see if your horse places. A 1 4 odds means you win £4 for every £1 staked; 1 5 shrinks that to £5 for every £1, but only on the place part.
Breaking down the math
Here is the deal: a 1 4 each-way win part pays out at 4 to 1, the place part at a fraction of that, usually 1⁄4 of the win odds. So a £10 win bet returns £50 (stake + £40 profit). The place leg, at 1⁄4, is 1 4 × 1⁄4 = 1 16, meaning you get £1.25 for each £1 placed. Multiply by £10 and you’ve pocketed £12.50 on the place side.
Switch to 1 5 each-way. Win leg still 5 to 1, so £10 yields £60. Place leg now 1⁄5 of the win odds: 1 5 × 1⁄5 = 1 25. That’s £0.20 profit per £1 placed, or £2 for a £10 stake. Suddenly the place return collapses.
Impact on your bankroll
And here is why the difference feels like night and day. If you chase places on long-shot races, the 1 4 fraction gives you a modest cushion. The 1 5 fraction robs you of that safety net, turning a decent-sized place payout into a token gesture. In practice, the gap can be a few pounds or a full-time wage on high-stakes races.
When bookmakers switch fractions
By the way, the shift from 1 4 to 1 5 isn’t random. Bookies usually apply 1 5 when the field is large, the race is a handicap, or the place pool is thin. They’re hedging risk, squeezing value from the punter who assumes a place bet is a cheap insurance.
Reading the fine print
Never trust the headline alone. The place terms — how many finishers pay, what fraction of the win odds — vary by sport and event. Some jurisdictions force a 1 4 place on horse racing, but the same bookmaker might offer 1 5 on greyhound or football. That’s why the link 1/4 vs 1/5 each-way odds is worth a click before you lock in your stake.
Bottom line for the savvy bettor
Stop treating each-way odds like a gimmick. Calculate the exact return before you click “place.” If the place fraction is 1 5, demand a higher win odds or a larger stake to justify the gamble. Adjust your strategy, or the odds will eat your profit.