Each-way terms. Edition of 2026-10-22.
17 of the 40 races run on Thu 22 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 22 Oct: 40 UK and Irish races, 21 changes to the place terms, and 1 race paying above the bookmaker’s own ladder. 14 were seen before race day and 7 on the day. A further 29 readings recorded only a change in field size, which is a non-runner rather than the book moving. Of the 21 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.
7 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a field that had already shrunk through non-runners, so they are mechanical adjustments rather than an offer being withdrawn.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 |
|---|---|---|---|---|
| Wed 21 Oct, 09:00 UTC | Clonmel 14:10 | 4 → 5 | 1/4 → 1/5 | 21 |
| Wed 21 Oct, 09:00 UTC | Newmarket 14:20 | 4 → 5 | 1/4 → 1/5 | 20 |
| Wed 21 Oct, 09:00 UTC | Newmarket 14:55 | 3 → 4 | 1/4 → 1/5 | 15 |
| Wed 21 Oct, 09:00 UTC | Carlisle 15:02 | 3 → 4 | 1/4 → 1/5 | 15 |
| Wed 21 Oct, 09:00 UTC | Clonmel 15:21 | 3 → 4 | 1/4 → 1/5 | 15 |
| Wed 21 Oct, 09:00 UTC | Newmarket 15:30 | 3 → 4 | 1/4 → 1/5 | 17 |
| Wed 21 Oct, 09:00 UTC | Carlisle 15:37 | 3 → 4 | 1/4 → 1/5 | 15 |
| Wed 21 Oct, 09:00 UTC | Newmarket 16:05 | 3 → 4 | 1/4 → 1/5 | 17 |
| Wed 21 Oct, 09:00 UTC | Southwell 16:26 | 3 → 4 | 1/4 → 1/5 | 15 |
| Wed 21 Oct, 09:00 UTC | Clonmel 16:30 | 3 → 4 | 1/4 → 1/5 | 14 |
| Wed 21 Oct, 09:00 UTC | Southwell 17:00 | 3 → 4 | 1/4 → 1/5 | 14 |
| Wed 21 Oct, 09:00 UTC | Clonmel 17:05 | 4 → 5 | 1/4 → 1/5 | 21 |
| Wed 21 Oct, 09:00 UTC | Newmarket 17:15 | 3 → 4 | 1/4 → 1/5 | 17 |
| Wed 21 Oct, 09:00 UTC | Southwell 18:30 | 3 → 4 | 1/4 → 1/5 | 16 |
| Thu 22 Oct, 06:00 UTC | Carlisle 13:52 | 3 → 2 | 1/5 → 1/4 | 10 → 9 |
| Thu 22 Oct, 09:00 UTC | Newmarket 13:10 | 3 → 2 | 1/5 → 1/4 | 10 → 9 |
| Thu 22 Oct, 09:00 UTC | Newmarket 14:55 | 4 → 3 | 1/5 | 14 → 12 |
| Thu 22 Oct, 10:00 UTC | Newmarket 16:40 | 3 → 2 | 1/5 → 1/4 | 10 → 9 |
| Thu 22 Oct, 11:00 UTC | Newmarket 14:20 | 5 → 4 | 1/5 | 18 → 17 |
| Thu 22 Oct, 15:00 UTC | Clonmel 16:30 | 4 → 3 | 1/5 | 12 |
| Thu 22 Oct, 15:00 UTC | Clonmel 17:05 | 5 → 4 | 1/5 | 17 |
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 |
|---|---|---|---|---|
| Ffos Las 12:51 | 10 | 3 | 1/5 | 3 |
| Newmarket 13:10 (terms moved) | 9 | 2 | 1/4 | 2 |
| Carlisle 13:17 | 15 | 3 | 1/5 | 3 |
| Ffos Las 13:26 | 13 | 3 | 1/5 | 3 |
| Clonmel 13:35 | 14 | 3 | 1/5 | 3 |
| Newmarket 13:45 | 11 | 3 | 1/5 | 3 |
| Carlisle 13:52 (terms moved) | 9 | 2 | 1/4 | 4 |
| Ffos Las 14:01 | 12 | 3 | 1/5 | 3 |
| Clonmel 14:10 above ladder (terms moved) | 18 | 5 | 1/5 | 4 |
| Newmarket 14:20 (terms moved) | 17 | 4 | 1/5 | 4 |
| Carlisle 14:27 | 7 | 2 | 1/4 | 4 |
| Ffos Las 14:36 | 10 | 3 | 1/5 | 4 |
| Clonmel 14:46 | 15 | 3 | 1/5 | 3 |
| Newmarket 14:55 (terms moved) | 11 | 3 | 1/5 | 4 |
| Carlisle 15:02 (terms moved) | 15 | 4 | 1/5 | 4 |
| Ffos Las 15:11 | 8 | 2 | 1/4 | 2 |
| Clonmel 15:21 (terms moved) | 15 | 4 | 1/5 | 4 |
| Newmarket 15:30 (terms moved) | 14 | 4 | 1/5 | 4 |
| Carlisle 15:37 (terms moved) | 15 | 4 | 1/5 | 4 |
| Ffos Las 15:46 | 9 | 2 | 1/4 | 4 |
| Clonmel 15:56 | 7 | 2 | 1/4 | 2 |
| Newmarket 16:05 (terms moved) | 14 | 4 | 1/5 | 4 |
| Carlisle 16:12 | 10 | 3 | 1/5 | 3 |
| Ffos Las 16:20 | 11 | 3 | 1/5 | 4 |
| Southwell 16:26 (terms moved) | 13 | 4 | 1/5 | 4 |
| Clonmel 16:30 (terms moved) | 12 | 3 | 1/5 | 4 |
| Newmarket 16:40 (terms moved) | 9 | 2 | 1/4 | 4 |
| Carlisle 16:45 | 6 | 1 | win only | 4 |
| Ffos Las 16:53 | 8 | 2 | 1/4 | 4 |
| Southwell 17:00 (terms moved) | 14 | 4 | 1/5 | 4 |
| Clonmel 17:05 (terms moved) | 17 | 4 | 1/5 | 4 |
| Newmarket 17:15 (terms moved) | 15 | 4 | 1/5 | 4 |
| Carlisle 17:20 | 7 | 2 | 1/4 | 2 |
| Southwell 17:30 | 13 | 3 | 1/5 | 4 |
| Southwell 18:00 | 12 | 3 | 1/5 | 4 |
| Southwell 18:30 (terms moved) | 13 | 4 | 1/5 | 4 |
| Southwell 19:00 | 10 | 3 | 1/5 | 3 |
| Southwell 19:30 | 10 | 3 | 1/5 | 3 |
| Southwell 20:00 | 12 | 3 | 1/5 | 4 |
| Southwell 20:30 | 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 47 days of collection; a later one is judged against more, and will look more generous for that reason alone.