Each-way terms. Edition of 2026-10-21.
11 of the 37 races run on Wed 21 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 21 Oct: 37 UK and Irish races, 13 changes to the place terms, and 2 races paying above the bookmaker’s own ladder. 9 were seen before race day and 4 on the day. A further 17 readings recorded only a change in field size, which is a non-runner rather than the book moving. Of the 13 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.
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a field that had already shrunk through non-runners, so they are mechanical adjustments rather than an offer being withdrawn.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 20 Oct, 09:00 UTC | Navan 13:32 | 4 → 5 | 1/4 → 1/5 | 23 |
| Tue 20 Oct, 09:00 UTC | Navan 17:04 | 4 → 5 | 1/4 → 1/5 | 28 |
| Tue 20 Oct, 09:00 UTC | Newmarket 17:20 | 4 → 5 | 1/4 → 1/5 | 19 |
| Tue 20 Oct, 09:00 UTC | Kempton 18:30 | 3 → 4 | 1/4 → 1/5 | 16 |
| Tue 20 Oct, 09:00 UTC | Kempton 19:00 | 3 → 4 | 1/4 → 1/5 | 16 |
| Tue 20 Oct, 09:00 UTC | Kempton 19:30 | 3 → 4 | 1/4 → 1/5 | 14 |
| Tue 20 Oct, 09:00 UTC | Kempton 20:00 | 3 → 4 | 1/5 | 13 |
| Tue 20 Oct, 09:00 UTC | Kempton 20:30 | 3 → 4 | 1/4 → 1/5 | 15 |
| Tue 20 Oct, 18:00 UTC | Fontwell 16:50 | 3 → 2 | 1/5 → 1/4 | 10 → 9 |
| Wed 21 Oct, 07:00 UTC | Worcester 16:00 | 3 → 2 | 1/5 → 1/4 | 10 → 9 |
| Wed 21 Oct, 09:00 UTC | Newmarket 15:00 | 3 → 2 | 1/5 → 1/4 | 10 → 9 |
| Wed 21 Oct, 12:00 UTC | Newmarket 17:20 | 5 → 4 | 1/5 | 18 → 17 |
| Wed 21 Oct, 18:00 UTC | Kempton 20:30 | 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 |
|---|---|---|---|---|
| Navan 13:02 | 16 | 3 | 1/5 | 3 |
| Worcester 13:10 | 11 | 3 | 1/5 | 4 |
| Navan 13:32 above ladder (terms moved) | 23 | 5 | 1/5 | 4 |
| Worcester 13:40 | 8 | 2 | 1/4 | 2 |
| Newmarket 13:50 | 10 | 3 | 1/5 | 3 |
| Fontwell 13:57 | 13 | 3 | 1/5 | 3 |
| Navan 14:07 | 12 | 3 | 1/5 | 3 |
| Worcester 14:15 | 8 | 2 | 1/4 | 2 |
| Newmarket 14:25 | 7 | 2 | 1/4 | 2 |
| Fontwell 14:32 | 7 | 2 | 1/4 | 4 |
| Navan 14:42 | 12 | 3 | 1/5 | 3 |
| Worcester 14:50 | 11 | 3 | 1/5 | 3 |
| Newmarket 15:00 (terms moved) | 9 | 2 | 1/4 | 2 |
| Fontwell 15:07 | 8 | 2 | 1/4 | 4 |
| Navan 15:17 | 10 | 3 | 1/5 | 4 |
| Worcester 15:25 | 12 | 3 | 1/5 | 3 |
| Newmarket 15:35 | 8 | 2 | 1/4 | 4 |
| Fontwell 15:42 | 9 | 2 | 1/4 | 4 |
| Navan 15:52 | 15 | 3 | 1/5 | 3 |
| Worcester 16:00 (terms moved) | 9 | 2 | 1/4 | 4 |
| Newmarket 16:10 | 7 | 2 | 1/4 | 4 |
| Fontwell 16:17 | 10 | 3 | 1/5 | 4 |
| Navan 16:27 | 14 | 3 | 1/5 | 3 |
| Worcester 16:35 | 12 | 3 | 1/5 | 4 |
| Newmarket 16:45 | 7 | 2 | 1/4 | 2 |
| Fontwell 16:50 (terms moved) | 9 | 2 | 1/4 | 4 |
| Kempton 16:58 | 7 | 2 | 1/4 | 2 |
| Navan 17:04 above ladder (terms moved) | 25 | 5 | 1/5 | 4 |
| Worcester 17:10 | 10 | 3 | 1/5 | 4 |
| Newmarket 17:20 (terms moved) | 15 | 4 | 1/5 | 4 |
| Kempton 17:30 | 10 | 3 | 1/5 | 3 |
| Kempton 18:00 | 12 | 3 | 1/5 | 3 |
| Kempton 18:30 (terms moved) | 16 | 4 | 1/5 | 4 |
| Kempton 19:00 (terms moved) | 16 | 4 | 1/5 | 4 |
| Kempton 19:30 (terms moved) | 14 | 4 | 1/5 | 4 |
| Kempton 20:00 (terms moved) | 13 | 4 | 1/5 | 4 |
| Kempton 20:30 (terms moved) | 12 | 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 46 days of collection; a later one is judged against more, and will look more generous for that reason alone.