What Is Each Way Betting?
What sort of bet should you place if you think you know who the winner will be, as well as second, or even third places? Consider an each way bet, where you win if your pick wins, but also if they just secure a place.
Today, we’re going to look at each way betting so that you can understand the concept, the odds and the possible rewards.
We’ll answer, “What is an each way bet, when should I consider it, and how do the payouts work?”
🔑 Key Takeaways
- Understand each way betting.
- Discover if you can place an each way horse bet.
- Learn about the pros and cons of an each way bet.
How Does Each Way Betting Work?
Each way betting is essentially one bet with two components: the win bet and the place bet. This means that you get a payout if your selection either wins or places. The odds will be different for the win bet and the place bet – you’ll get a higher payout for a win and a lower one for a place.
Example: Say you place a $5 each way bet on a horse that has odds of 7-1, which costs you $10 (because you’re betting $5 on a win and $5 on a place) and that horse wins.
→ You would win $35 (5 x 7) for the win, but you’d also win for the place.
Placing pays out differently, and this is specified when you place the bet:
Say the place bet is one-fifth of 7/1, which would be 1.4/1. That part of the bet would pay out $7 in winnings (1.4 x 5).
→ You get your $10 stake back, of course, plus $42 in winnings: $35 for the win and $7 for the place.
Fact: A report found that, in 2023, the number of sports bets placed in the US increased by 27.5% from the previous year.
Each Way Betting in Different Sports
While each way betting is often associated with horse racing betting, each way bets will be available on a few different sports at your favorite sportsbook. The each way bet meaning or definition will vary with each sport, so always check. It can mean anything from the top two positions to the top five.
In horse racing betting: You can’t place an each way bet if there are four runners or fewer. With five to seven runners, first and second places pay, and with eight or more the top three positions pay. In a handicapped race with over 16 runners, the first four places will generally pay out.
In golf betting: For each way bet golf tournament odds, there are a high number of possible selections. The US Masters sees 156 golfers competing at the beginning of the tournament. You can place a bet for a player to finish in the top five or even top 10, with the odds split offered reflecting this number.
In NFL betting: When it comes to placing an each way bet, football might not be an obvious choice. You can’t make this kind of wager on a single match because there are only two outcomes. However, each way betting is available for football tournaments or leagues at the beginning of the season, when all teams are theoretically in with the chance of a place.
Fact: The NFL is the most popular sport to bet on across the US, with 61% of fans placing bets on the sport.
Why Use Each Way Betting? The Pros and Cons
There are advantages and disadvantages to each way betting, so it’s important to know when it’s most beneficial.
As sports editor Trevor Jones has said:
When it comes to betting on sports, this unique type of bet offers some serious potential. No-one betting on sports should do so without understanding this concept.
Trevor Jones
An each way bet covers more options and increase your chance of winning, offering a chance of a higher profit if you pick a winner. However, it also requires a higher stake, and the place bet portion of an each way bet offers relatively low returns.
An each way bet is an effective way to hedge your bets and increase the chance of a return, which is why it’s popular in horse racing and major golf tournaments.
| Pros | Cons |
|---|---|
| Better chance of returns | Higher stake required |
| More potential for profit | Lower returns on the place bet |
Calculating Each Way Bets
The easiest way to calculate an each way bet is to use our each way bet calculator. Simply input the betting odds being offered and the amount you want to bet, and the possible returns will be worked out for you!
Tips for Maximizing Success with Each Way Bets
There are no guarantees in sports betting, but there are some best practices. With each way betting:
- Go for an early bet, when you’ll likely get the best odds.
- Consider simply backing the first, second and third favorites, which offers a high chance of a return.
- Consider extra place offers if your sportsbook has them – you effectively ‘buy’, say, the top six places in a race that usually offers the first four places.
- Compare each way odds across sportsbooks before betting.
Common Mistakes to Avoid with Each Way Betting
Here are some mistakes you should aim to avoid:
- Don’t go each way if an outright win bet would be better (generally, if your winners are at 4/1 or longer).
- If you like two horses at 4/1 or longer, consider two win bets rather than an each way.
- Be wary of betting each way in very big fields where anything can happen.
Consider this tip from Practical Punting:
The punter has an advantage over the each way bookmaker in fields of eight to 12 runners if he backs each way horses quoted at 7/1 or shorter for the win. The shorter the win price, the greater the advantage for a place.
So, Will You Bet This Way Tonight?
Now you’ve had the each way bet explained in detail, it’s time to practice. Use our calculator to help, and look for the best sports betting sites.
Frequently Asked Questions About Each Way Betting
What is the difference between a win bet and an each way bet?
Win bets only pay out if your pick wins. Coming second means that you lose. With an each way bet, you can win a small amount if your pick doesn’t win but manages a place, and a bigger amount if they actually win.
Can I place each way bets on any sport?
Some sports are better suited to each way betting than others, and there are some sports where the each way bet just doesn’t work. Check out the bet types that your sportsbook offers for each event to see if each way betting is available.
How are each way bet payouts calculated?
The win bet pays out according to the odds, and the place bet pays out at a specified fraction of the win bet. A bet of 10/1 with four places at ¼ of the odds pays out $10 for every $1 staked for the win, and $2.50 (¼ of 10) for every $1 staked for a place.
What happens if my bet places but doesn’t win?
You’ll lose the win bet, but still win something through the place bet. In the above scenario, if you place a $10 bet, and your pick places, you would win $25, plus your stake back, of course.