Each-way terms. Edition of 2026-10-14.
8 of the 39 races run on Wed 14 Oct 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 Wed 14 Oct: 39 UK and Irish races, 10 changes to the place terms, and 0 races paying above the bookmaker’s own ladder. 5 were seen before race day and 5 on the day. A further 26 readings recorded only a change in field size, which is a non-runner rather than the book moving. Of the 10 term changes, 4 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a field that had already shrunk through non-runners, so they are mechanical adjustments rather than an offer being withdrawn.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 |
|---|---|---|---|---|
| Tue 13 Oct, 09:00 UTC | Punchestown 15:20 | 4 → 5 | 1/4 → 1/5 | 18 |
| Tue 13 Oct, 09:00 UTC | Nottingham 17:22 | 3 → 4 | 1/4 → 1/5 | 16 |
| Tue 13 Oct, 09:00 UTC | Kempton 19:00 | 3 → 4 | 1/4 → 1/5 | 16 |
| Tue 13 Oct, 09:00 UTC | Kempton 19:30 | 3 → 4 | 1/4 → 1/5 | 14 |
| Tue 13 Oct, 09:00 UTC | Kempton 20:00 | 3 → 4 | 1/4 → 1/5 | 15 |
| Wed 14 Oct, 09:00 UTC | Punchestown 15:20 | 5 → 4 | 1/5 | 18 → 16 |
| Wed 14 Oct, 10:00 UTC | Punchestown 15:55 | 2 → 1 | 1/4 → win only | 7 → 6 |
| Wed 14 Oct, 12:00 UTC | Wetherby 14:00 | 3 → 2 | 1/5 → 1/4 | 10 → 9 |
| Wed 14 Oct, 13:00 UTC | Nottingham 17:22 | 4 → 3 | 1/5 | 12 |
| Wed 14 Oct, 14:00 UTC | Ffos Las 16:05 | 3 → 2 | 1/5 → 1/4 | 10 → 8 |
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 |
|---|---|---|---|---|
| Nottingham 13:19 | 9 | 2 | 1/4 | 2 |
| Wetherby 13:25 | 4 | 1 | win only | 4 |
| Punchestown 13:35 | 8 | 2 | 1/4 | 2 |
| Ffos Las 13:45 | 12 | 3 | 1/5 | 4 |
| Nottingham 13:54 | 16 | 3 | 1/5 | 3 |
| Wetherby 14:00 (terms moved) | 9 | 2 | 1/4 | 2 |
| Punchestown 14:10 | 17 | 3 | 1/5 | 3 |
| Ffos Las 14:20 | 7 | 2 | 1/4 | 4 |
| Nottingham 14:29 | 13 | 3 | 1/5 | 3 |
| Wetherby 14:35 | 7 | 2 | 1/4 | 4 |
| Punchestown 14:45 | 7 | 2 | 1/4 | 4 |
| Ffos Las 14:55 | 11 | 3 | 1/5 | 4 |
| Nottingham 15:04 | 13 | 3 | 1/5 | 4 |
| Wetherby 15:10 | 6 | 1 | win only | 4 |
| Punchestown 15:20 (terms moved) | 15 | 4 | 1/5 | 4 |
| Ffos Las 15:30 | 6 | 1 | win only | 1 |
| Nottingham 15:39 | 12 | 3 | 1/5 | 4 |
| Wetherby 15:45 | 6 | 1 | win only | 4 |
| Punchestown 15:55 (terms moved) | 6 | 1 | win only | 1 |
| Ffos Las 16:05 (terms moved) | 8 | 2 | 1/4 | 4 |
| Nottingham 16:14 | 12 | 3 | 1/5 | 4 |
| Wetherby 16:20 | 10 | 3 | 1/5 | 4 |
| Kempton 16:25 | 10 | 3 | 1/5 | 3 |
| Punchestown 16:30 | 6 | 1 | win only | 1 |
| Ffos Las 16:38 | 10 | 3 | 1/5 | 4 |
| Nottingham 16:47 | 10 | 3 | 1/5 | 4 |
| Wetherby 16:52 | 9 | 2 | 1/4 | 4 |
| Kempton 17:00 | 9 | 2 | 1/4 | 4 |
| Punchestown 17:07 | 10 | 3 | 1/5 | 4 |
| Ffos Las 17:13 | 9 | 2 | 1/4 | 4 |
| Nottingham 17:22 (terms moved) | 11 | 3 | 1/5 | 4 |
| Kempton 17:30 | 12 | 3 | 1/5 | 4 |
| Punchestown 17:40 | 13 | 3 | 1/5 | 3 |
| Kempton 18:00 | 11 | 3 | 1/5 | 4 |
| Kempton 18:30 | 12 | 3 | 1/5 | 3 |
| Kempton 19:00 (terms moved) | 14 | 4 | 1/5 | 4 |
| Kempton 19:30 (terms moved) | 13 | 4 | 1/5 | 4 |
| Kempton 20:00 (terms moved) | 15 | 4 | 1/5 | 4 |
| Kempton 20:30 | 11 | 3 | 1/5 | 4 |
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 39 days of collection; a later one is judged against more, and will look more generous for that reason alone.