-Credit:PA
Val Dancer has won the 2024 Welsh Grand National at Chepstow Racecourse.
The 8/1 horse was ridden to victory by jockey Charlie Hammond in hugely foggy conditions.
Jubilee Express finished second, Iwilldoit came third and Monbeg Genius and Galia Des Liteaux finished in fourth and fifth place respectively.
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Welsh Grand National results 2023:
1. Val Dancer
2. Jubilee Express
3. Iwilldoit
4. Monbeg Genius
5. Galia Des Liteaux
Which places do each-way bets pay out on?
Each-way bets are so popular because you’re not actually betting on your horse to win outright. Instead, you’re betting on it to finish among the top handful of places, the specific number of which are determined by the bookmakers.
Skybet, bet365 and BetVictor are among those paying the most each-way places for the 2024 Welsh Grand National, with five places at 1/5.
Skybet: 5 places, 1/5 odds
bet365: 5 places, 1/5 odds
BetVictor: 5 places, 1/5 odds
Star Sports: 5 places, 1/5 odds
If you bet to win outright – or ‘on the nose’ – then it’s all or nothing. You either win or you lose, if your horse comes anywhere other than first, you don’t win a penny. However, if you bet each-way, you’re actually making two bets with the bookie.
It’s one bet that the horse will finish first and another that it will come in the determined number of places that the bookie pays out on. So, for example, if you bet £1 each-way, you’ve made two bets, which overall will cost you £2.
What does that meaning in terms of winnings? Well, if your horse wins at 12/1, and you put £1 on it to win outright, then you get your £12 returns plus your original £1 stake. However, if you backed it each way, then you’ll get £12 returns plus your £1 stake.
In addition, if the bookies offer 1/4 the odds for a place, then you’ll get another £3 plus your £1 stake. If your horse finishes placed but doesn’t win, you’ll just get your £3 returns and your £1 stake back.