How each way betting works
Betting each-way is a great way of getting a return on your stake, especially when it comes to longer price selections. Most betting customers wouldn’t place a bet on a selection that was priced at 2.00 or 3.50, although odds of 9.00 or 17.00 might see a customer bet each-way rather than win only.
When you place a single win only bet, you are staking money on a horse, football team or tennis player to win a particular event. However, an each-way bet means you are not only betting to win but also betting on your selection to place.
Why do people bet each-way?
Imagine you have a win-only bet on a horse to win the Grand National. The horse’s odds might be 20.00 so it would be an outsider to win the race. Now imagine that horse finishes second in the race. Betting win only means you get no return on your bet even though your horse has ran better than the odds suggested.
Now imagine you bet each-way on the same horse which means half the stake goes on a win only bet and the other half goes on the place. Say the each-way terms were ¼ odds for the first four places. That would mean your horse finishing second would see you enjoy a handsome payout of 6.00 for the place part of your each-way bet.
Therefore, betting each-way gives you insurance when it comes to your online betting. For a big horse race, golf tournament or even football competition, having a bet each-way means that you can make money even when your selection doesn’t win.
When should I bet each-way?
There is no hard and fast rule when it comes to each-way betting. If the each-way terms for a particular betting event is ¼ odds for the first four places, it means that you can back a selection at 5.00 each-way and know you will effectively get money back if the selection is placed but doesn’t win.
If the selection is bigger than odds at 5.00 and the each-way terms are ¼ odds for number of places, then you would stand to make a profit should your selection place in a particular event.
However, there is a big difference in your returns depending on whether you bet win only or each-way.
A) Let’s say you bet £10 each-way on Tottenham winning the Premier League at odds of 21.00. Each-way terms ¼ odds for the first three places.
B) Let’s also say you bet £20 “win only” on Tottenham winning the Premier League at odds of 21.00. Each-way terms ¼ odds for the first three places.
Using the example of A), you could get the following returns:
If Tottenham win the Premier League, you get a return of £210 on your win only bet and £60 on your place bet, meaning a total return of £270.
If Tottenham place in the Premier League, you would get a return of £60 from your place bet.
Using the example of B), you could get the following returns:
If Tottenham win the Premier League, you would get a total return of £420.
If Tottenham place in the Premier League, you would get a return of £0.
You can see that the example of A) will give you a return whether Tottenham win or place, while the example of B) demonstrates that you only get a return if Tottenham win BUT that the return is significantly bigger because of the win-only stake.
How to place a bet each-way
You can’t place each-way bets on every betting market. For example, if Tottenham are playing Arsenal, you can’t bet each-way on the match odds although there might be the chance to bet each-way on First Goalscorer which means you could get a return if your player scores the second or third goal.
You will see the each-way terms when you visit a betting market page which offers each-way betting, with a typical each-way betting term being ¼ odds for the first three places. You then click on the selection you want to back and there is the option to choose each-way when that selection is in your bet slip.
You can also bet an each-way accumulator on a selection of horse races that means you’re effectively betting a win-only accumulator along with a place accumulator. Two chances to make money!
Just always remember that each-way betting involves two bets. You are betting on the win and betting on the place.