What Does P-E Stand for in Horse Betting?

The meaning of the letters P-E in horse betting is quite easy to understand. It stands for “Penny Each Way” and is used to signify bets placed on a horse race where everyone involved is aware that the price of the wager will change every time the race is over. This is the most popular type of bet in online betting circles and it is usually placed on thoroughbred horse races since these are the horses that are most easily influenced by betting practices.

Why Does It Usually Mean Penny Each Way?

People who bet on horse races usually do so because they enjoy the thrill of winning and hate wasting their time on sucker bets where the odds are always in the house’s favor. Since the odds always favor the house in these types of bets, people feel that they are getting their money’s worth and won’t place a bet on a race that they know is going to be a push-for-payment opportunity.

Thoroughbred horse racing has always attracted a higher interest level from gamblers. This is mostly due to the fact that these are the horses that one can research and study the stats of before placing a wager. The breeding and training of thoroughbreds is a painstaking process and the information these horses provide has value all by itself. Thoroughbreds are generally a slow and steady horse that can be relied upon to perform well time and time again. Combine this with the fact that you can place bets on multiple races during the same session and you have an interesting combination that draws in would-be and experienced gamblers alike.

Penny each way bets are often placed on races that start at a distance. This is done because these are the types of bets that are most likely to be pushed by the bookies since the returns are usually minimal. When a race is decided by a photo finish, the odds will usually shift in favor of the winner. For instance, if a horse wins by a nose, it will often pay out 10 to 1. This is pretty high when you consider that it is a 1 mile race and the total payout is usually around $100. You can imagine how much money is in play when the odds are heavily stacked against you.

How Do I Place A Penny Each Way?

You can place a penny each way bet in a variety of ways, but the most popular way is through an online sportsbook. Most online sportsbooks will offer their customers the chance to bet on horse races and various other sports. Once you have registered an account with them, you can place your bets with ease using their handy little betting calculator. Simply enter the details of your bet—the odds and the size of your wager—and hit the calculate button to have the amount due presented to you.

It is essential to note that the price of a bet will change based on the outcome of the respective race. For instance, if you wager on a horse racing event and that horse places last in the group, you will lose your entire investment. The bottom line is that you have to be prepared to lose your money since the price of a bet can change at any time.

What About The Over Under?

The over under is quite similar to the penny each way bet in that it is also a type of bet where the price will change after each race. The difference is that the over under bet is characterized by the fact that the odds will be the same for all contenders in a horse race. For instance, the odds might be 5 to 1 for a given race, but if one of the horses is actually chosen at the random drawings, then all of the other horses’ odds will be adjusted accordingly.

In an over under bet, you are simply placing a wager on which horse will cross the finish line first. This is a bit like picking a winner from a group of contestants where everyone is considered to be an equal. It is quite a risky bet to place since you are risking the same amount of money regardless of whether the horse you choose finishes first or last. The advantage of this type of bet is that, since the price does not change, if one of your choices wins, then you will at least win back your initial investment.

For experienced bettors, over under bets are a great way to make some extra money since there is always the chance that one of their picks could finish first and yield a profit. This is certainly not the case with the penny each way bet, where you need to be careful about choosing the right race since the wrong choice could mean losing your money. Just remember: the more experience you have, the better you will be able to pick winning horses. Over time, this could make you rich beyond your wildest dreams!