Each-way terms. Edition of 2026-09-18.
15 of the 47 races run on Fri 18 Sept had their terms changed
We read Paddy Power’s published each-way terms once an hour, from the morning before the race. This is the record for the races run on Fri 18 Sept: 47 UK and Irish races, 17 changes to the place terms, and 11 races paying above the bookmaker’s own ladder. 12 were seen before race day and 5 on the day. A further 38 readings recorded only a change in field size, which is a non-runner rather than the book moving. Of the 17 term changes, 5 happened at the same moment the field changed, so those may be the field crossing a step of the ladder rather than a decision about the offer.
5 races lost a place. Every one of them followed a field that had already shrunk through non-runners, so they are mechanical adjustments rather than an offer being withdrawn.
When the place terms moved
| Seen at | Race | Places | Fraction | Field |
|---|---|---|---|---|
| Thu 17 Sept, 11:00 UTC | Downpatrick 14:12 | 3 → 4 | 1/4 → 1/5 | 14 |
| Thu 17 Sept, 11:00 UTC | Downpatrick 14:47 | 3 → 4 | 1/4 → 1/5 | 15 |
| Thu 17 Sept, 11:00 UTC | Newbury 14:57 | 3 → 4 | 1/4 → 1/5 | 15 |
| Thu 17 Sept, 11:00 UTC | Ayr 15:05 | 3 → 4 | 1/5 | 17 |
| Thu 17 Sept, 11:00 UTC | Downpatrick 15:22 | 3 → 4 | 1/4 → 1/5 | 16 |
| Thu 17 Sept, 11:00 UTC | Downpatrick 17:02 | 3 → 4 | 1/4 → 1/5 | 20 |
| Thu 17 Sept, 11:00 UTC | Wolverhampton 17:45 | 3 → 4 | 1/4 → 1/5 | 14 |
| Thu 17 Sept, 11:00 UTC | Wolverhampton 18:15 | 3 → 4 | 1/4 → 1/5 | 14 |
| Thu 17 Sept, 11:00 UTC | Dundalk 18:30 | 3 → 4 | 1/4 → 1/5 | 19 |
| Thu 17 Sept, 11:00 UTC | Dundalk 19:00 | 3 → 4 | 1/4 → 1/5 | 19 |
| Thu 17 Sept, 11:00 UTC | Dundalk 20:00 | 3 → 4 | 1/4 → 1/5 | 18 |
| Thu 17 Sept, 17:00 UTC | Wolverhampton 19:15 | 3 → 2 | 1/5 → 1/4 | 10 → 9 |
| Fri 18 Sept, 06:00 UTC | Newbury 14:22 | 2 → 1 | 1/4 → win only | 7 → 6 |
| Fri 18 Sept, 07:00 UTC | Newbury 16:40 | 3 | 1/4 → 1/5 | 14 → 13 |
| Fri 18 Sept, 09:00 UTC | Wolverhampton 17:45 | 4 → 3 | 1/5 | 14 → 12 |
| Fri 18 Sept, 10:00 UTC | Newton Abbot 14:37 | 3 → 2 | 1/5 → 1/4 | 10 → 9 |
| Fri 18 Sept, 13:00 UTC | Downpatrick 14:12 | 4 → 3 | 1/5 | 12 |
The day and hour are when we saw the change, not when it was made: we read on the hour, so a change shown at 10:00 happened some time after 09:00.
Every race that day
| Race | Field | Places | Fraction | House ladder |
|---|---|---|---|---|
| Ayr 13:20 | 11 | 3 | 1/5 | 3 |
| Downpatrick 13:37 | 17 | 3 | 1/5 | 3 |
| Newbury 13:47 | 17 | 3 | 1/5 | 3 |
| Ayr 13:55 above ladder | 15 | 4 | 1/5 | 3 |
| Newton Abbot 14:02 | 9 | 2 | 1/4 | 2 |
| Downpatrick 14:12 (terms moved) | 12 | 3 | 1/5 | 3 |
| Newbury 14:22 (terms moved) | 6 | 1 | win only | 1 |
| Ayr 14:30 | 10 | 3 | 1/5 | 3 |
| Newton Abbot 14:37 (terms moved) | 9 | 2 | 1/4 | 2 |
| Downpatrick 14:47 above ladder (terms moved) | 14 | 4 | 1/5 | 3 |
| Newbury 14:57 above ladder (terms moved) | 14 | 4 | 1/5 | 3 |
| Ayr 15:05 above ladder (terms moved) | 16 | 4 | 1/5 | 3 |
| Newton Abbot 15:12 | 5 | 1 | win only | 1 |
| Downpatrick 15:22 above ladder (terms moved) | 14 | 4 | 1/5 | 3 |
| Newbury 15:32 | 11 | 3 | 1/5 | 3 |
| Ayr 15:40 above ladder | 26 | 6 | 1/5 | 5 |
| Newton Abbot 15:47 | 9 | 2 | 1/4 | 2 |
| Downpatrick 15:57 | 11 | 3 | 1/5 | 3 |
| Wolverhampton 16:02 | 13 | 3 | 1/5 | 3 |
| Newbury 16:07 | 10 | 3 | 1/5 | 3 |
| Ayr 16:15 | 13 | 3 | 1/5 | 3 |
| Newton Abbot 16:22 | 8 | 2 | 1/4 | 2 |
| Downpatrick 16:28 | 14 | 3 | 1/5 | 3 |
| Wolverhampton 16:35 | 14 | 3 | 1/4 | 3 |
| Newbury 16:40 (terms moved) | 10 | 3 | 1/5 | 3 |
| Ayr 16:45 | 10 | 3 | 1/5 | 3 |
| Newton Abbot 16:55 | 8 | 2 | 1/4 | 2 |
| Downpatrick 17:02 above ladder (terms moved) | 17 | 4 | 1/5 | 3 |
| Wolverhampton 17:10 | 12 | 3 | 1/5 | 3 |
| Newbury 17:15 | 10 | 3 | 1/5 | 3 |
| Ayr 17:20 | 12 | 3 | 1/5 | 3 |
| Dundalk 17:25 | 7 | 2 | 1/4 | 2 |
| Newton Abbot 17:30 | 13 | 3 | 1/5 | 3 |
| Downpatrick 17:37 | 14 | 3 | 1/5 | 3 |
| Wolverhampton 17:45 (terms moved) | 11 | 3 | 1/5 | 3 |
| Newbury 17:50 | 10 | 3 | 1/5 | 3 |
| Dundalk 18:00 | 14 | 3 | 1/5 | 3 |
| Wolverhampton 18:15 above ladder (terms moved) | 14 | 4 | 1/5 | 3 |
| Dundalk 18:30 above ladder (terms moved) | 16 | 4 | 1/5 | 3 |
| Wolverhampton 18:45 | 9 | 2 | 1/4 | 2 |
| Dundalk 19:00 above ladder (terms moved) | 16 | 4 | 1/5 | 3 |
| Wolverhampton 19:15 (terms moved) | 9 | 2 | 1/4 | 2 |
| Dundalk 19:30 | 12 | 3 | 1/5 | 3 |
| Wolverhampton 19:45 | 8 | 2 | 1/4 | 2 |
| Dundalk 20:00 above ladder (terms moved) | 16 | 4 | 1/5 | 3 |
| Wolverhampton 20:15 | 12 | 3 | 1/5 | 3 |
| Dundalk 20:30 | 14 | 3 | 1/5 | 3 |
Race times are BST. “House ladder” is the fewest places we have ever seen this bookmaker pay for a field of that size in a race of that type, derived from our own collection and cut at this edition’s date — not the classic each-way table, which they do not follow.
This count is not comparable with a later edition’s. The ladder is the fewest places we have ever seen, so it can only fall as we collect more, and “above the ladder” rises with it. This edition was judged against 13 days of collection; a later one is judged against more, and will look more generous for that reason alone.