Which Grand National 2024 each-way place bets pay out in and how much you win

It's the most famous horse race in the world with hundreds of millions of people expected to watch the Randox Grand National 2024 on Saturday.

A field of 34 horses will do two laps of Aintree Racecourse after an earlier than normal start time - covering four miles and 2½ furlongs and jumping 30 fences - with the winner expected to walk away with more than £500,000. Those watching at home and in the stands will also be hoping to win some money in the race by backing their favourite horse or horses.

As well as just betting on the winner bookmakers also also allow each-way bets - which gives people the chance to win cash even if their horse does not finish first.

READ MORE: Grand National 2024 runners - full list of confirmed horses racing this year

Instead, you're betting on it to finish among the top handful of places, the specific number of which are determined by the bookmakers

If you bet to win outright - or 'on the nose' - then it's all or nothing. You either win or you lose.

However, if you bet each-way, you're actually making two bets with the bookie. It's one bet that the horse will finish first and another that it will come in the determined number of places that the bookie pays out on. So, for example, if you bet £1 each-way, you've made two bets, which overall will cost you £2.

What does that mean in terms of winnings? Well, if your horse wins at 12/1, and you put £1 on it to win outright, then you get your £12 returns plus your original £1 stake. However, if you backed it each way, then you'll get £12 returns plus your £1 stake.

In addition, if the bookies offer 1/4 the odds for a place, then you'll get another £3 plus your £1 stake. If your horse finishes placed but doesn't win, you'll just get your