Each-way terms. Edition of 2026-10-15.
12 of the 40 races run on Thu 15 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 Thu 15 Oct: 40 UK and Irish races, 12 changes to the place terms, and 4 races paying above the bookmaker’s own ladder. 11 were seen before race day and 1 on the day. A further 23 readings recorded only a change in field size, which is a non-runner rather than the book moving. Of the 12 term changes, 1 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.
1 race 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a field that had already shrunk through non-runners, so they are mechanical adjustments rather than an offer being withdrawn.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 |
|---|---|---|---|---|
| Wed 14 Oct, 09:00 UTC | Curragh 14:47 | 4 → 5 | 1/4 → 1/5 | 24 |
| Wed 14 Oct, 09:00 UTC | Brighton 15:50 | 3 → 4 | 1/5 | 13 |
| Wed 14 Oct, 09:00 UTC | Curragh 15:57 | 4 → 5 | 1/4 → 1/5 | 26 |
| Wed 14 Oct, 09:00 UTC | Brighton 16:25 | 3 → 4 | 1/4 → 1/5 | 17 |
| Wed 14 Oct, 09:00 UTC | Southwell 16:30 | 3 → 4 | 1/4 → 1/5 | 16 |
| Wed 14 Oct, 09:00 UTC | Curragh 16:32 | 4 → 5 | 1/4 → 1/5 | 19 |
| Wed 14 Oct, 09:00 UTC | Brighton 16:55 | 3 → 4 | 1/4 → 1/5 | 16 |
| Wed 14 Oct, 09:00 UTC | Curragh 17:07 | 4 → 5 | 1/4 → 1/5 | 25 |
| Wed 14 Oct, 09:00 UTC | Southwell 18:00 | 3 → 4 | 1/4 → 1/5 | 16 |
| Wed 14 Oct, 09:00 UTC | Southwell 18:30 | 3 → 4 | 1/4 → 1/5 | 15 |
| Wed 14 Oct, 09:00 UTC | Southwell 20:00 | 3 → 4 | 1/4 → 1/5 | 15 |
| Thu 15 Oct, 10:00 UTC | Perth 16:15 | 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 |
|---|---|---|---|---|
| Perth 12:55 | 10 | 3 | 1/5 | 3 |
| Curragh 13:02 | 14 | 3 | 1/5 | 3 |
| Perth 13:25 | 6 | 1 | win only | 1 |
| Brighton 13:32 | 12 | 3 | 1/5 | 4 |
| Curragh 13:37 | 15 | 4 | 1/5 | 4 |
| Fontwell 13:44 | 7 | 2 | 1/4 | 4 |
| Perth 13:55 | 11 | 3 | 1/5 | 3 |
| Brighton 14:05 | 8 | 2 | 1/4 | 2 |
| Curragh 14:12 | 17 | 3 | 1/5 | 3 |
| Fontwell 14:19 | 6 | 1 | win only | 4 |
| Perth 14:30 | 8 | 2 | 1/4 | 4 |
| Brighton 14:40 | 14 | 3 | 1/5 | 3 |
| Curragh 14:47 above ladder (terms moved) | 21 | 5 | 1/5 | 4 |
| Fontwell 14:54 | 9 | 2 | 1/4 | 2 |
| Perth 15:05 | 11 | 3 | 1/5 | 4 |
| Brighton 15:15 | 11 | 3 | 1/5 | 4 |
| Curragh 15:22 | 14 | 3 | 1/5 | 3 |
| Fontwell 15:29 | 8 | 2 | 1/4 | 2 |
| Perth 15:40 | 10 | 3 | 1/5 | 4 |
| Brighton 15:50 (terms moved) | 13 | 4 | 1/5 | 4 |
| Curragh 15:57 above ladder (terms moved) | 23 | 5 | 1/5 | 4 |
| Fontwell 16:04 | 9 | 2 | 1/4 | 4 |
| Perth 16:15 (terms moved) | 9 | 2 | 1/4 | 4 |
| Brighton 16:25 (terms moved) | 16 | 4 | 1/5 | 4 |
| Southwell 16:30 (terms moved) | 16 | 4 | 1/5 | 4 |
| Curragh 16:32 above ladder (terms moved) | 19 | 5 | 1/5 | 4 |
| Fontwell 16:39 | 11 | 3 | 1/5 | 4 |
| Perth 16:50 | 6 | 1 | win only | 1 |
| Brighton 16:55 (terms moved) | 15 | 4 | 1/5 | 4 |
| Southwell 17:00 | 13 | 3 | 1/5 | 4 |
| Curragh 17:07 above ladder (terms moved) | 22 | 5 | 1/5 | 4 |
| Fontwell 17:14 | 8 | 2 | 1/4 | 4 |
| Brighton 17:25 | 11 | 3 | 1/5 | 4 |
| Southwell 17:30 | 12 | 3 | 1/5 | 3 |
| Southwell 18:00 (terms moved) | 15 | 4 | 1/5 | 4 |
| Southwell 18:30 (terms moved) | 13 | 4 | 1/5 | 4 |
| Southwell 19:00 | 11 | 3 | 1/5 | 3 |
| Southwell 19:30 | 11 | 3 | 1/5 | 4 |
| Southwell 20:00 (terms moved) | 14 | 4 | 1/5 | 4 |
| Southwell 20:30 | 9 | 2 | 1/4 | 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 40 days of collection; a later one is judged against more, and will look more generous for that reason alone.