Each-way terms. Edition of 2026-09-21.
19 of the 46 races run on Mon 21 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 Mon 21 Sept: 46 UK and Irish races, 22 changes to the place terms, and 15 races paying above the bookmaker’s own ladder. 16 were seen before race day and 6 on the day. A further 44 readings recorded only a change in field size, which is a non-runner rather than the book moving. Of the 22 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.
6 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a field that had already shrunk through non-runners, so they are mechanical adjustments rather than an offer being withdrawn.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 |
|---|---|---|---|---|
| Sun 20 Sept, 10:00 UTC | Listowel 13:53 | 4 → 5 | 1/4 → 1/5 | 20 |
| Sun 20 Sept, 10:00 UTC | Hamilton 14:47 | 3 → 4 | 1/4 → 1/5 | 14 |
| Sun 20 Sept, 10:00 UTC | Listowel 14:55 | 3 → 4 | 1/4 → 1/5 | 20 |
| Sun 20 Sept, 10:00 UTC | Listowel 15:30 | 3 → 4 | 1/4 → 1/5 | 20 |
| Sun 20 Sept, 10:00 UTC | Wolverhampton 16:00 | 3 → 4 | 1/4 → 1/5 | 14 |
| Sun 20 Sept, 10:00 UTC | Listowel 16:05 | 3 → 4 | 1/4 → 1/5 | 19 |
| Sun 20 Sept, 10:00 UTC | Leicester 16:12 | 3 → 4 | 1/4 → 1/5 | 14 |
| Sun 20 Sept, 10:00 UTC | Leicester 16:47 | 3 → 4 | 1/4 → 1/5 | 16 |
| Sun 20 Sept, 10:00 UTC | Fairyhouse 16:57 | 4 → 5 | 1/4 → 1/5 | 23 |
| Sun 20 Sept, 10:00 UTC | Listowel 17:12 | 3 → 4 | 1/4 → 1/5 | 20 |
| Sun 20 Sept, 10:00 UTC | Leicester 17:17 | 3 → 4 | 1/4 → 1/5 | 17 |
| Sun 20 Sept, 10:00 UTC | Fairyhouse 17:27 | 3 → 4 | 1/4 → 1/5 | 15 |
| Sun 20 Sept, 10:00 UTC | Fairyhouse 18:57 | 4 → 5 | 1/4 → 1/5 | 20 |
| Sun 20 Sept, 11:00 UTC | Wolverhampton 19:42 | 3 → 4 | 1/4 → 1/5 | 14 |
| Sun 20 Sept, 11:00 UTC | Wolverhampton 20:12 | 3 → 4 | 1/4 → 1/5 | 14 |
| Sun 20 Sept, 16:00 UTC | Leicester 14:31 | 4 → 5 | 1/4 → 1/5 | 18 |
| Mon 21 Sept, 09:00 UTC | Leicester 14:31 | 5 → 4 | 1/5 | 16 |
| Mon 21 Sept, 09:00 UTC | Hamilton 17:02 | 3 → 2 | 1/5 → 1/4 | 10 → 9 |
| Mon 21 Sept, 10:00 UTC | Leicester 15:37 | 3 → 2 | 1/5 → 1/4 | 10 → 9 |
| Mon 21 Sept, 10:00 UTC | Fairyhouse 18:27 | 3 → 2 | 1/5 → 1/4 | 10 → 9 |
| Mon 21 Sept, 11:00 UTC | Listowel 13:53 | 5 → 4 | 1/5 | 19 → 17 |
| Mon 21 Sept, 12:00 UTC | Wolverhampton 19:42 | 4 → 3 | 1/5 | 13 → 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 |
|---|---|---|---|---|
| Listowel 13:23 | 13 | 3 | 1/5 | 3 |
| Hamilton 13:43 | 9 | 2 | 1/4 | 2 |
| Listowel 13:53 above ladder (terms moved) | 17 | 4 | 1/5 | 3 |
| Leicester 13:59 | 8 | 2 | 1/4 | 2 |
| Ffos Las 14:04 | 7 | 2 | 1/4 | 2 |
| Hamilton 14:15 | 7 | 2 | 1/4 | 2 |
| Listowel 14:23 | 16 | 3 | 1/5 | 3 |
| Leicester 14:31 above ladder (terms moved) | 16 | 4 | 1/5 | 3 |
| Ffos Las 14:38 | 9 | 2 | 1/4 | 2 |
| Hamilton 14:47 above ladder (terms moved) | 14 | 4 | 1/5 | 3 |
| Listowel 14:55 above ladder (terms moved) | 15 | 4 | 1/5 | 3 |
| Leicester 15:02 | 12 | 3 | 1/5 | 3 |
| Ffos Las 15:09 | 10 | 3 | 1/5 | 3 |
| Hamilton 15:22 | 8 | 2 | 1/4 | 2 |
| Listowel 15:30 above ladder (terms moved) | 17 | 4 | 1/5 | 3 |
| Leicester 15:37 (terms moved) | 9 | 2 | 1/4 | 2 |
| Ffos Las 15:44 | 11 | 3 | 1/5 | 3 |
| Fairyhouse 15:50 | 8 | 2 | 1/4 | 2 |
| Hamilton 15:55 | 8 | 2 | 1/4 | 2 |
| Wolverhampton 16:00 above ladder (terms moved) | 13 | 4 | 1/5 | 3 |
| Listowel 16:05 above ladder (terms moved) | 17 | 4 | 1/5 | 3 |
| Leicester 16:12 above ladder (terms moved) | 14 | 4 | 1/5 | 3 |
| Ffos Las 16:19 | 6 | 1 | win only | 1 |
| Fairyhouse 16:25 | 19 | 3 | 1/5 | 3 |
| Hamilton 16:30 | 10 | 3 | 1/5 | 3 |
| Wolverhampton 16:35 | 7 | 2 | 1/4 | 2 |
| Listowel 16:40 | 13 | 3 | 1/5 | 3 |
| Leicester 16:47 above ladder (terms moved) | 15 | 4 | 1/5 | 3 |
| Ffos Las 16:52 | 11 | 3 | 1/5 | 3 |
| Fairyhouse 16:57 above ladder (terms moved) | 20 | 5 | 1/5 | 3 |
| Hamilton 17:02 (terms moved) | 9 | 2 | 1/4 | 2 |
| Wolverhampton 17:07 | 11 | 3 | 1/5 | 3 |
| Listowel 17:12 above ladder (terms moved) | 17 | 4 | 1/5 | 3 |
| Leicester 17:17 above ladder (terms moved) | 17 | 4 | 1/5 | 3 |
| Ffos Las 17:22 | 10 | 3 | 1/5 | 3 |
| Fairyhouse 17:27 above ladder (terms moved) | 14 | 4 | 1/5 | 3 |
| Wolverhampton 17:42 | 13 | 3 | 1/5 | 3 |
| Ffos Las 17:52 | 11 | 3 | 1/5 | 3 |
| Fairyhouse 17:57 | 12 | 3 | 1/5 | 3 |
| Wolverhampton 18:12 | 12 | 3 | 1/5 | 3 |
| Fairyhouse 18:27 (terms moved) | 9 | 2 | 1/4 | 2 |
| Wolverhampton 18:42 | 11 | 3 | 1/5 | 3 |
| Fairyhouse 18:57 above ladder (terms moved) | 19 | 5 | 1/5 | 3 |
| Wolverhampton 19:12 | 12 | 3 | 1/5 | 3 |
| Wolverhampton 19:42 (terms moved) | 11 | 3 | 1/5 | 3 |
| Wolverhampton 20:12 above ladder (terms moved) | 12 | 4 | 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 16 days of collection; a later one is judged against more, and will look more generous for that reason alone.