As you can see from the odds at the top of this page, not all horses are priced at 34/1. This is because some horses in the race are known to be better than others and the really good horses attract lots of bets.

Bookmakers don't like to take lots of bets on one horse because if that horse wins, the bookmaker will lose money! So the bookmaker will offer more attractive (larger) odds on other horses in an effort to get people to back those instead.

The Bookie will always aim to make a profit regardless of the outcome of the race, and that's why you will see the odds fluctuating right until they're off.

For many people, the appeal of the Grand National is down to the fact that longshots have won the race in the past. Winners have returned victorious at odds of 100/1, including Mon Mome in 2009 and famously Foinavon in 1967.

In 2022 Noble Yeats started at 80/1 before eventually going off at 50/1. In 2013 Auroras Encore backers cheered when he powered to a nine-length victory at 66/1. In fact, the average odds of the winning horse since 1990 have been around 20/1.

If you'd like to know more about placing a bet on the big race then read our guide to betting each-way (Click Here).

What Do The Numbers In Odds Mean?

You'll most often see odds displayed like this: 5/1, 10/1, 25/1 and all the way up to 100/1 and sometimes even higher. But what do these numbers represent?

In the examples above the first numbers: 5, 10, 25 and 100 represent the returned amount for a winning £1 bet. A winning £1 bet at 10/1 will return £10 plus you'll also get your original £1 stake back.

Occasionally you'll see short priced odds like this: 5/2 or 6/5 the numbers look different, but the principle is the same. For example 5/2 is another way of saying 2.5/1 if you bet £1 at 5/2 and your horse wins you'll get £2.50 in return (plus your stake).

How Does Each Way Betting Affect Odds

When you back a horse eachway you’re betting it will finish in either 1st, 2nd, 3rd or 4th positions. (Bookmakers usually payout on eachway bets to 5 places in the Grand National - please check before betting.)

If you make a £10 Eachway bet the total cost will be £20, that’s because you’re actually making two bets with the bookmaker.

The first bet is that the horse will finish 1st and another best is that it will place in either 2nd, 3rd or 4th position (and 5th with Betfred).

Of course you can lower your stake to ‘£5 eachway’ and then the total cost of the bet will be reduced to just £10.

Lets say you’ve had a £10 eachway (£20 total cost) at odds of 10/1 and your horse romps home in first place – how much do you win?

Well, you’ve got £10 @ 10/1 = £100, PLUS you also get 1/4 the quoted odds on the place part of the bet, which is £10 @ 2.5/1 = £25 giving you a total of £125 and don’t forget you also get your original £20 stake returned too.

Should your horse finish in either 2nd, 3rd or 4th position, known as a ‘place’ you will win £25 plus the £10 ‘place’ part of your original £20 stake will be returned.

You might be wondering why you only get £25 back in winnings if the odds are 10/1 and your bet was £10, shouldn’t that be £100!

Well no, the bookmakers only pay out a 1/4 of the quoted odds on horses that finish 2nd, 3rd or 4th and because your horse didn’t finish 1st you will lose the win portion of the original stake.

How Often Does The Favourite Win The National

In the last 100 hundred years only 14 favourites have actually won the Grand National. Seven of them have come in the last 20 years notably: I Am Maximus (2026, 2024), Corach Rambler (2023), Tiger Roll (2019), Don’t Push It (2010), Comply Or Die (2008) and Hedgehunter (2005).

Nearly all these horses have gone off at 7/1, except for Tiger Roll, who went off at odds of 4/1, which on the face of it, seems miserly odds for such a high-risk race.

Do Longshots Have A Real Chance

Five 100/1 winners have won the race in the last 100 years. Below you can see the odds of the winners since 2009:

• • 2026 I Am Maximus 9/2f
  • 2025 Nick Rockett 33/1
  • 2024 I Am Maximus 7/1f
  • 2023 Corach Rambler 8/1
  • 2022 Noble Yeats 50/1
  • 2021 Minella Times 11/1
  • 2019 Tiger Roll 4/1f
  • 2018 Tiger Roll 10/1
  • 2017 One For Arthur 14/1
  • 2016 Rule The World 33/1
  • 2015 Many Clouds 25/1
  • 2014 Pineau De Re 25/1
  • 2013 Auroras Encore 66/1
  • 2012 Neptune Collonges 33/1
  • 2011 Ballabriggs 14/1
  • 2010 Don't Push It 10/1
  • 2009 Mon Mome 100/1

Where Can I Get The Best Odds

This is a tricky question to answer. It's certainly worth shopping around for a price on a specific horse, especially if that horse is considered a longshot.

I often see horses priced a 40/1 with one bookmaker which can be backed at 66/1 or even 80/1 with another. At the other end of the market, the difference in odds is usually small.

It's worth noting that promo offers and enhanced eachway place terms offered by some bookmakers could easily outweigh a small difference in odds.