What Is an Each Way Bet? A Beginner’s Guide to This Popular Betting Option
Why Are People Confused About Each Way Bets?
If you’ve ever browsed a betting site, you might have seen the option to place an “each way” bet, especially on horse racing or football tournaments. For beginners, this term can be confusing. What does “each way” actually mean? How does it work, and why do so many bettors use it? This guide will break down each way betting in simple language, using real examples, so you can decide if it’s the right choice for you.
What Is an Each Way Bet?
An each way bet is really two bets combined into one. It’s most commonly used in events where there are several possible winners—like horse races, golf tournaments, or even outright football competitions.
Here’s how it works:
– The first part of your bet is on your selection to win.
– The second part is on your selection to “place”—that means finishing in one of the top spots (not always first, but maybe second, third, or even fourth, depending on the event and bookmaker).
So, when you place an each way bet, you’re doubling your stake: half goes on the win, half goes on the place.
Example: Each Way Bet in Horse Racing
Let’s say you want to bet on a horse called “Lightning Bolt” in a race with 10 runners.
– You place a £5 each way bet.
– This means you’re betting £5 on Lightning Bolt to win, and £5 on Lightning Bolt to place (total stake: £10).
– The bookmaker is offering 1/4 odds for a place, paying out if your horse finishes in the top 3.
What could happen?
– If Lightning Bolt wins: You get paid for both the win and the place.
– If Lightning Bolt comes 2nd or 3rd: You lose the win part, but win the place part.
– If Lightning Bolt finishes outside the top 3: You lose both parts of your bet.
How Are Each Way Winnings Calculated?
Let’s break down the payouts using the example above. Suppose Lightning Bolt’s odds to win are 8/1.
– If Lightning Bolt wins:
– Win part: £5 at 8/1 = £40 profit (plus your £5 stake back)
– Place part: £5 at 1/4 of 8/1 (that’s 2/1) = £10 profit (plus your £5 stake back)
– Total return: £40 + £10 + £5 + £5 = £60
– If Lightning Bolt comes 2nd or 3rd:
– Win part: loses (£5 lost)
– Place part: £5 at 2/1 = £10 profit (plus your £5 stake back)
– Total return: £10 + £5 = £15
– If Lightning Bolt finishes outside the top 3:
– Both parts lose (£10 lost)
When and Why Do Bettors Choose Each Way Bets?
Each way bets are popular when you think your selection has a strong chance of performing well, but you’re not certain they’ll win outright. This is especially true in big fields or unpredictable events.
Common situations for each way bets:
– Horse races with many runners
– Golf tournaments with dozens of competitors
– Football tournaments (like betting on a team to win or finish in the top 2 or 4)
An each way bet gives you a safety net. Even if your pick doesn’t win, you can still get a return if they come close.
Example: Each Way Bet on a Football Tournament
Suppose you want to bet on an underdog team to win a major football tournament. The odds for them to win are 20/1, but you’re not sure they’ll go all the way. The bookmaker offers 1/2 odds for a place (finishing in the top 2).
– You place a £10 each way bet (£20 total).
– If your team wins: You get paid for both win and place.
– If your team finishes 2nd: You lose the win part, but win the place part at 10/1 (half of 20/1).
This way, you still get a nice payout if your team just misses out on the trophy.
What Are the Risks of Each Way Betting?
Like all bets, each way bets carry risks. Here’s what to watch out for:
You double your stake. Because it’s two bets, you’re risking twice as much money.
Reduced place odds. The place part pays out at a fraction of the win odds (often 1/4 or 1/5), so returns are smaller.
Not always worth it for favorites. If you bet each way on a favorite with low odds, the place payout might not cover your total stake.
Terms can vary. Bookmakers set their own rules for how many places pay out and at what odds. Always check the terms before betting.
How Does Each Way Compare to Similar Bets?
Each way betting is different from other bet types like “to win” or “place only” bets.
– To win: You only get paid if your selection comes first. No payout for finishing second or third.
– Place only: You only bet on your selection to finish in the top spots. No payout if they win, except for the place odds.
– Each way: Combines both win and place, so you can win on both or just the place part.
Each way betting is more flexible than a straight win bet, but less focused than a place-only bet.
Tips for Beginners: Making the Most of Each Way Bets
1. Look for value in bigger fields. Each way bets make more sense when there are lots of competitors and higher odds.
2. Check the place terms. Always see how many places are paid and what the place odds are. Some events pay more places than others.
3. Avoid each way on short-priced favorites. The returns on the place part are often too small to justify the extra risk.
4. Use each way for outsiders you think will go close. If you have a hunch about a long shot, each way betting gives you a chance to profit even if they don’t win.
Conclusion: Is Each Way Betting Right for You?
Each way betting can be a smart option if you want a shot at a big win but also a safety net if your pick just falls short. It’s especially useful in horse racing, golf, and outright football bets where the competition is tough and unpredictable.
For beginners, the key is to understand how your stake is split, how the payouts work, and to always check the terms before placing your bet. Start small, look for good value, and use each way bets to add an extra layer of excitement to your betting experience.
If you’re ready to try each way betting, pick an event with plenty of runners and double-check the place terms. With practice, you’ll soon see why so many bettors love this flexible and rewarding option.