What is each way betting? This bet option doubles the fun by letting you combine two wagers within a single bet. One bet is for your selection to win, and the other is for your selection to place.
It’s a great way to get a higher potential return on your stake, especially when betting on high-odds events. If you ask me, any bet that gives you two ways to win is worth exploring. In this guide, I’ll cover the inner workings of each way betting, when best to use it, and share a few strategies.
An each way bet is a single wager split into two markets. The first stake goes to a straight win wager where you bet on your selection to win. The other half is for the place bet where you bet on your selection to finish within one of the predetermined positions. This could be anywhere from second to fourth place, depending on the number of entrants.
According to my each way betting definition above, if your selection wins, both parts of the bet pay out. What if your selection doesn’t win but only places? You get a return for the place part only. The payout for place bets is paid out as a fraction of the win bet odds as declared by the bookie.
Given the nature of each way betting explained in this article, it’s a popular wager with horse racing even though it can be used in other sports. So to wrap your head around the payouts of this wager, I’ll give you an example of a horse racing each way bet.
Let’s assume you place a $5 each way bet on a horse with odds 10/1 and the bookie pays up to 4 places at a 1/4 of the odds. This effectively means you’re putting $10 down for the win and place bet. If your horse wins, you’re paid out on both parts of the wager.
Your bet is calculated as follows:
| The win part | ||
| Stake | Odds | Payout |
| $5 | 10/1 | $55 |
| The place part | ||
| $5 | 10/1 odds x 0.25 | $17.50 |
That means your return from this wager would be $72.50, a total profit of $62.50
With each way betting explained, how about I walk you through the steps of placing the wager? Again, I’ll use a horse racing example to make it easier to comprehend:
Each way betting explained here has its upsides and downsides like any other bet type. I’ve listed the pros and cons below.
Even with each way betting explained in detail, is it better than win betting? Like I mentioned, with a win bet, you’re placing a single wager on your selection to win. With each way betting, you’re placing two bets instead of one, giving you two ways to win which ultimately reduces the risk of walking away empty-handed.
Is one bet better than the other? It depends on the bet, odds, and your risk tolerance. Each way bets are profitable if the event has high odds and your selection places, but remember you’re staking twice as much. Win bets are similar to betting with fixed odds meaning they offer a higher return since your wager isn’t diluted between two bets.
Each way betting isn’t guaranteed to get you a win. But to increase your chances of profitability, consider the following tips:
To enjoy optimum value with this each way betting guide, look for sportsbooks with the most competitive odds. That way you can be sure to generate some decent returns even if your selection only places.
When figuring out how to bet on horse racing using each way wagers, simple logic applies. The more runners in a sporting event, the more places are likely to be paid out, making each way wagers potentially profitable.
Make SportsGambler your first port of call. Here, you can gather as much information on each betting guide and other insightful information, like what is handicap betting, for a valuable experience.
If you’re a cautious gamer, each way wagers are ideal because they dilute the risk. But if you’re a risk taker, win bets will work out better.
Wrapping up this betting guide, I can think of a number of reasons why placing each way bets is a valuable betting strategy For starters, you can still profit with an each way bet even if your selection doesn’t win the race. Of course, things are more complex than that since you have to consider other factors like odds, number of runners, and your overall risk tolerance.
The strategy of each way betting explained in this piece will work better with horse racing but you can use it on other sports. Lucky for you, you can count on SportsGambler to give you all the information to take advantage of this bet fully.
Returns from win bets are pretty straightforward, with your stake multiplied by the given odds. Place bets returns are more intricate. They’re calculated by multiplying your stake with the place odds, which are a fraction of the win odds declared by the bookie.
It depends on various factors, such as the individual wager, odds involved, and the number of participants in the event. Sometimes, if you’re confident a selection will win, a win bet might be the best option.
If your selection withdraws after placing an each way bet, the wager is often voided depending on the withdrawal circumstances. Check with the bookie for specific rules on the wager.
While each way betting is predominantly useful in horse racing, you can use this strategy in several other sports like soccer, particularly in the futures market. You can also use it on niche sports like golf which has tournaments that offer huge value with this bet type.
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