Each-way terms. Edition of 2026-10-18.
8 of the 21 races run on Sun 18 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 Sun 18 Oct: 21 UK and Irish races, 8 changes to the place terms, and 1 race paying above the bookmaker’s own ladder. All of them were seen on race day. A further 18 readings recorded only a change in field size, which is a non-runner rather than the book moving. Of the 8 term changes, 8 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.
8 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a field that had already shrunk through non-runners, so they are mechanical adjustments rather than an offer being withdrawn.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 18 Oct, 08:00 UTC | Limerick 16:00 | 5 → 4 | 1/5 | 20 → 15 |
| Sun 18 Oct, 08:00 UTC | Limerick 17:00 | 2 → 1 | 1/4 → win only | 7 → 6 |
| Sun 18 Oct, 09:00 UTC | Limerick 14:00 | 3 → 2 | 1/5 → 1/4 | 13 → 9 |
| Sun 18 Oct, 11:00 UTC | Limerick 15:00 | 5 → 4 | 1/5 | 18 → 17 |
| Sun 18 Oct, 11:00 UTC | Limerick 15:30 | 4 → 3 | 1/5 | 11 → 10 |
| Sun 18 Oct, 11:00 UTC | Leopardstown 16:12 | 5 → 4 | 1/5 | 19 → 17 |
| Sun 18 Oct, 11:00 UTC | Leopardstown 16:42 | 5 → 4 | 1/5 | 18 → 17 |
| Sun 18 Oct, 12:00 UTC | Sedgefield 14:20 | 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 |
|---|---|---|---|---|
| Sedgefield 13:50 | 5 | 1 | win only | 1 |
| Limerick 14:00 (terms moved) | 9 | 2 | 1/4 | 2 |
| Leopardstown 14:12 | 17 | 3 | 1/5 | 3 |
| Sedgefield 14:20 (terms moved) | 9 | 2 | 1/4 | 4 |
| Limerick 14:30 | 14 | 3 | 1/5 | 3 |
| Leopardstown 14:42 | 9 | 2 | 1/4 | 2 |
| Sedgefield 14:50 | 10 | 3 | 1/5 | 3 |
| Limerick 15:00 (terms moved) | 16 | 4 | 1/5 | 4 |
| Leopardstown 15:12 above ladder | 18 | 5 | 1/5 | 4 |
| Sedgefield 15:20 | 9 | 2 | 1/4 | 4 |
| Limerick 15:30 (terms moved) | 10 | 3 | 1/5 | 4 |
| Leopardstown 15:42 | 11 | 3 | 1/5 | 3 |
| Sedgefield 15:50 | 10 | 3 | 1/5 | 4 |
| Limerick 16:00 (terms moved) | 13 | 4 | 1/5 | 4 |
| Leopardstown 16:12 (terms moved) | 17 | 4 | 1/5 | 4 |
| Sedgefield 16:20 | 11 | 3 | 1/5 | 4 |
| Limerick 16:30 | 10 | 3 | 1/5 | 4 |
| Leopardstown 16:42 (terms moved) | 17 | 4 | 1/5 | 4 |
| Sedgefield 16:50 | 7 | 2 | 1/4 | 2 |
| Limerick 17:00 (terms moved) | 6 | 1 | win only | 1 |
| Leopardstown 17:12 | 16 | 4 | 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 43 days of collection; a later one is judged against more, and will look more generous for that reason alone.