Each Way Betting
Each way betting is available in many sports, although in most cases it is strictly limited to a few markets, and these are usually outright betting markets. However, when it comes to each way horse racing, each way betting is freely available on most races every single day, and it is a very popular option for each way horse betting punters. Also this strategy you can use on each way bet football strategy.
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Each way bet explained
Each way betting is where you back the same selection, but you place two bets on it to be successful. You place one bet on the selection to win, and one on the selection to be placed, with the place terms specified for that particular market. Sometimes the place terms cover the first two, while others cover more so make sure you know this before you bet, so you know what you need to happen for you to have a winning bet – whats an each way bet.
How to make an each way bet?
As already said, an each way bet (e w bet) is two separate bets put together, so that means you have to pay two times your stake money when betting each way. For example, if you bet one unit to win it costs one unit. However, one unit each way, costs you two units as you are placing one unit on your selection to win and one on it to place.
Calculate winnings each way bet
This is something that many punters struggle with, but it can be made much easier if you have four vital pieces of information available to you and dont forget each way betting rules.
1 – Where did your selection finish
2 – What were the each way terms on your bet
3 – How many each way places were paid
4 – What was the price of your selection
How to calculate winnings from an each way bet
Here are the four pieces of information for this example of a winning each way bet.
Your selection came 1st, the each way odds terms were ¼ odds, three places were paid and the selection was 12/1.
You have two bets that need calculating here, the win part and the each way part.
The win part – 1 unit to win at 12/1 – returns = 13 units
The place part – 1 unit to place at 12/4 (which is 3/1) – returns = 4 units
This means for a bet stake of one unit each way, you will be paid back 17 units from your bookmaker.
Calculating a placed each way bet
Here are the four pieces of information for this example of a placed each way bet
Your selection came 3rd, the each way terms were ¼ odds, four places were paid and your selection was 10/1.
The win part – 1 unit to win at 10/1 – returns = 0 units
The place part – 1 unit to place at 10/4 (which is 5/2) – returns = 3.5 units
This means for a stake of one unit each way, you will be paid back 3.5 units from your bookmaker.
Calculating a low price each way bet
If you place an each way bet on a lower priced selection, then you may find that your selection has placed but you have lost money overall on your bet. This is something to watch out for when you are betting each way, and worth noting when you are calculating potential winnings.
Here are the four pieces of information for this selection.
Your selection came 2nd, the each way terms were ¼ odds, three places were paid and your selection was 3/1.
The win part – 1 unit to win at 3/1 – returns = 0 units
The place part – 1 unit to place at 3/4 – returns = 1.75 units
This means for one unit each way and a total stake of two units, you will actually receive back 1.75 units which means a loss of 0.25.
Advantages and disadvantages of each way betting
There are many punters who use each way betting as part of their bet types, especially in a sport like horse racing where you can bet each way on a daily basis. However, there are times when you should use it and times when you shouldn’t. The best approach is to combine your bets, with some being placed each way and some to win, and this is usually dependant on the price of the selection.
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Never bet each way on every selection
This is vitally important and far worse than never betting each way at all. If you bet each way on every selection you place then you will find that you will lose money on some occasions, even when you have been successful and picked out something that has won for you. The above example of this is a perfect way to highlight it. If you back a selection each way at 3/1 like in that example, you can get the place part of the bet correct but end up losing money as the each way bet returns are very small from the place win.
Make profit without backing a winner
Perhaps the biggest appeal of each way betting is the fact that you can make money from your betting without actually backing a winner. In the example above that calculated a placed each way bet at 10/1, 1.5 units profit was made on the bet, even though the selection didn’t win. This is something that a lot of people are beginning to realise, and why each way betting is becoming more and more popular with punters.
A way of covering a win bet
Each way betting is a way to provide you with cover on a bet that you are thinking of having. For example, if you think a horse has a decent chance of winning, but you are very confident of a place then you can back the horse each way and know that if the horse places you will receive a small profit back. By doing this the each way bet acts as cover, giving you your stake back plus a small profit if your horse misses out and places but it doesn’t win. So this is how each way bet works.
If you want find more information about sport betting strategy, check out our betting guide page.