Each-way terms. Edition of 2026-09-26.
13 of the 53 races run on Sat 26 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 Sat 26 Sept: 53 UK and Irish races, 14 changes to the place terms, and 15 races paying above the bookmaker’s own ladder. 12 were seen before race day and 2 on the day. A further 30 readings recorded only a change in field size, which is a non-runner rather than the book moving. Of the 14 term changes, 2 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.
2 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a field that had already shrunk through non-runners, so they are mechanical adjustments rather than an offer being withdrawn.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 |
|---|---|---|---|---|
| Fri 25 Sept, 10:00 UTC | Curragh 14:35 | 4 → 5 | 1/4 → 1/5 | 22 |
| Fri 25 Sept, 10:00 UTC | Ripon 14:49 | 3 → 4 | 1/4 → 1/5 | 17 |
| Fri 25 Sept, 10:00 UTC | Haydock 15:15 | 3 → 4 | 1/4 → 1/5 | 16 |
| Fri 25 Sept, 10:00 UTC | Ripon 15:28 | 3 → 4 | 1/4 → 1/5 | 14 |
| Fri 25 Sept, 10:00 UTC | Listowel 15:55 | 4 → 5 | 1/4 → 1/5 | 19 |
| Fri 25 Sept, 10:00 UTC | Listowel 16:30 | 4 → 5 | 1/4 → 1/5 | 23 |
| Fri 25 Sept, 10:00 UTC | Listowel 17:05 | 3 → 4 | 1/4 → 1/5 | 16 |
| Fri 25 Sept, 10:00 UTC | Market Rasen 17:30 | 3 → 4 | 1/4 → 1/5 | 14 |
| Fri 25 Sept, 10:00 UTC | Listowel 17:35 | 3 → 4 | 1/4 → 1/5 | 17 |
| Fri 25 Sept, 10:00 UTC | Southwell 19:30 | 3 → 4 | 1/4 → 1/5 | 16 |
| Fri 25 Sept, 10:00 UTC | Southwell 20:00 | 3 → 4 | 1/4 → 1/5 | 16 |
| Fri 25 Sept, 10:00 UTC | Southwell 20:30 | 3 → 4 | 1/4 → 1/5 | 16 |
| Sat 26 Sept, 09:00 UTC | Listowel 15:55 | 5 → 4 | 1/5 | 18 → 17 |
| Sat 26 Sept, 12:00 UTC | Market Rasen 16:25 | 3 → 2 | 1/5 → 1/4 | 10 → 9 |
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 |
|---|---|---|---|---|
| Newmarket 13:22 | 12 | 3 | 1/5 | 3 |
| Curragh 13:30 | 15 | 3 | 1/5 | 3 |
| Haydock 13:35 | 11 | 3 | 1/5 | 3 |
| Ripon 13:44 | 11 | 3 | 1/5 | 3 |
| Newmarket 13:55 | 9 | 2 | 1/4 | 2 |
| Curragh 14:00 | 11 | 3 | 1/5 | 3 |
| Haydock 14:10 above ladder | 12 | 4 | 1/5 | 3 |
| Ripon 14:16 | 8 | 2 | 1/4 | 2 |
| Newmarket 14:27 | 8 | 2 | 1/4 | 2 |
| Market Rasen 14:30 | 11 | 3 | 1/5 | 3 |
| Curragh 14:35 above ladder (terms moved) | 22 | 5 | 1/5 | 4 |
| Haydock 14:40 | 11 | 3 | 1/5 | 3 |
| Listowel 14:45 | 14 | 3 | 1/5 | 3 |
| Ripon 14:49 above ladder (terms moved) | 16 | 4 | 1/5 | 3 |
| Newmarket 15:00 | 9 | 2 | 1/4 | 2 |
| Market Rasen 15:05 | 9 | 2 | 1/4 | 2 |
| Curragh 15:10 | 8 | 2 | 1/4 | 2 |
| Haydock 15:15 above ladder (terms moved) | 13 | 4 | 1/5 | 3 |
| Listowel 15:21 | 8 | 2 | 1/4 | 2 |
| Ripon 15:28 above ladder (terms moved) | 14 | 4 | 1/5 | 3 |
| Newmarket 15:40 | 29 | 6 | 1/5 | 6 |
| Curragh 15:45 | 13 | 3 | 1/5 | 3 |
| Market Rasen 15:50 | 6 | 1 | win only | 1 |
| Listowel 15:55 above ladder (terms moved) | 16 | 4 | 1/5 | 3 |
| Haydock 16:00 | 9 | 2 | 1/4 | 2 |
| Ripon 16:05 | 13 | 3 | 1/5 | 3 |
| Southwell 16:10 | 11 | 3 | 1/5 | 3 |
| Newmarket 16:15 | 13 | 3 | 1/5 | 3 |
| Curragh 16:20 above ladder | 20 | 4 | 1/5 | 3 |
| Market Rasen 16:25 (terms moved) | 9 | 2 | 1/4 | 2 |
| Listowel 16:30 above ladder (terms moved) | 19 | 5 | 1/5 | 3 |
| Haydock 16:35 | 8 | 2 | 1/4 | 2 |
| Ripon 16:40 | 12 | 3 | 1/5 | 3 |
| Southwell 16:45 | 11 | 3 | 1/5 | 3 |
| Newmarket 16:50 above ladder | 14 | 4 | 1/5 | 3 |
| Curragh 16:55 | 20 | 3 | 1/5 | 3 |
| Market Rasen 17:00 | 13 | 3 | 1/5 | 3 |
| Listowel 17:05 above ladder (terms moved) | 15 | 4 | 1/5 | 3 |
| Haydock 17:10 | 11 | 3 | 1/5 | 3 |
| Ripon 17:15 | 11 | 3 | 1/5 | 3 |
| Southwell 17:20 | 12 | 3 | 1/5 | 3 |
| Curragh 17:25 | 19 | 3 | 1/5 | 3 |
| Market Rasen 17:30 above ladder (terms moved) | 14 | 4 | 1/5 | 3 |
| Listowel 17:35 above ladder (terms moved) | 16 | 4 | 1/5 | 3 |
| Ripon 17:45 | 7 | 2 | 1/4 | 2 |
| Southwell 17:55 | 11 | 3 | 1/5 | 3 |
| Market Rasen 18:00 | 12 | 3 | 1/5 | 3 |
| Listowel 18:05 | 8 | 2 | 1/4 | 2 |
| Southwell 18:30 | 10 | 3 | 1/5 | 3 |
| Southwell 19:00 | 15 | 3 | 1/5 | 3 |
| Southwell 19:30 above ladder (terms moved) | 16 | 4 | 1/5 | 3 |
| Southwell 20:00 above ladder (terms moved) | 14 | 4 | 1/5 | 3 |
| Southwell 20:30 above ladder (terms moved) | 15 | 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 21 days of collection; a later one is judged against more, and will look more generous for that reason alone.