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.
Yes. Each way is also popular in outright markets for tournaments - especially in golf - where bookies pay multiple places (e.g., top 5, 8, or even 10). You back a golfer to win and to place; if they don’t lift the trophy but finish within the paid places, the place part returns at a fraction of the win odds. Explore trusted books with solid place terms on our golf betting sites page.
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. If you’re new to race analysis and staking plans, our horse racing strategy guide breaks down form, pace, place terms, and how each way value is created.
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.
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.
Both bets can be useful, but they serve different goals. Use the table below to decide which fits your risk profile and the market you’re betting:
| Feature | Each-Way (EW) | Win Bet |
|---|---|---|
| What you’re backing | Two bets: 1) to win, 2) to place (e.g., top 3/4) | Single bet: selection must win |
| Stake size | Stake is doubled (half on win, half on place) | Single stake |
| Payout mechanics | Win part pays full odds; place part pays a fraction (e.g., 1/5, 1/4) | Pays full odds only if the selection wins |
| Best for | Big fields, bigger odds, multiple places paid (e.g., majors, festivals) | Shorter prices, strong favourites, smaller fields |
| Risk profile | Lower risk (two ways to collect), lower upside vs. straight win | Higher risk (win or nothing), higher upside at same total stake |
| Value drivers | Generous place terms and competitive place fraction | Top fixed odds and sharp pricing on the win line |
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.
Each way can be great value, but not in every market. Consider skipping EW in the following situations:
Rule of thumb: EW shines in big, competitive fields with generous place terms and fair fractions. Otherwise, stick to win-only or look for a different race.
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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