Newcomers to the world of sports betting may not yet be familiar with the term ‘each way bet’. If you’re one of these people and you’re wondering what an each-way bet actually is, you’re in the right place! Although used mainly by horse racing bettors, this type of bet can be used in other sports such cycling, tennis and golf. Read on to find an answer to the question, ‘How does an each-way bet work?’ and have an each-way bet explained.
What is an each-way bet?
An easy way of understanding each way betting is to view an each-way bet as essentially placing two bets on one outcome. One of these bets is ‘to win’ and one is ‘to place’. Your stake is split between these two bets, so a £20 each way bet will consist of £10 on your selection to win, and another £10 on your selection to place.
How does an each-way bet work?
So how does a bet of this type actually work? How do you win? How much can you win? We’ll try and answer these questions for you now.
The two parts of an each-way bet
Anyone who knows about horse racing types of bets will be able to explain that the two parts of an each-way bet are as follows:
- Win bet: This bet wins if your selection comes first in the competition, race or league in which they are competing.
- Place bet: This bet wins if your selection finishes within a set number of places, usually the first four places (though this can vary).
This means that if your selection wins the race, both the win and place parts of the wager will pay out a return to you. If your selection places, then just the place bet will bring a return for you. The odds for a place bet being successful are usually calculated at a fifth of the odds to win. So if you back a horse at 5/1 each way and it comes second, your bet will bring a return equivalent to evens or 1/1. This is worth noting for anyone putting together horse racing betting strategies.
How many places are paid on an each-way bet?
The number of places for which each-way bets are paid out varies. The following is a useful general guide to how bookmakers usually do it, however.
- One to four horses: No places, to win is the only bet available
- Five to seven horses: Quarter Odds, first and second place only
- More than eight horses: One-fifth odds, first, second and third place
- 12 to 15 horses (handicapped races only): Quarter odds, first, second and third place
- More than 16 horses (handicapped races only): Quarter odds, first, second and third place, fourth place
Each-way betting strategy
Using an each-way bet in bet365 horse racing betting can bring benefits. Placing an each-way bet on horses involves the same degree of preparation and planning as you would bring to any other kind of bet. You must always consider the odds very carefully, however, to ensure that you are at least breaking even if the win section of your bet is unsuccessful. When placing the bet online, make sure you tick the Each Way box, and always note that this will double your stake automatically. This is important when you are trying to calculate each way bet winnings.
You also need to check the size of the field and the number of places for which an each-way bet is paying out. This is true in virtual sports betting as well as real-life betting. Some combinations of these factors are more attractive to astute each-way bettors than others.
For example, both an eight-horse and 15-horse race will usually pay out for the first three places for each-way bets. If you bet on a horse in a race with eight runners, it only needs to beat five other horses to finish in the first three. In a race with 15 runners, it needs to beat 12. You can see where the value lies from those figures. Make sure to take this into account the next time you are using an online horse racing sign-up bonus.
What sports can an each-way bet be used in?
While each betting is most commonly used in horse racing, as we have explained above. There are other sports in which you may see each way markets offered, however. Other sports in which each way betting can be used on sports that have large fields in tournaments, such as tennis. Placing an each-way bet on golf can also bring success. Racing sports such as cycling and motorsport also offer opportunities for each-way betting. There are differences in how each way betting can be used in each sport, but the strategy that we outlined above for betting on horse racing can be adapted and tweaked for other sports.
Each-way betting on football
Placing an each-way bet on football has also become very popular in recent times. Each way football bets are used on outright markets for the winners of tournaments and leagues. It can be a good way of betting on outsiders in a cup competition. Teams such as Hull City and Wigan Athletic have managed to reach the FA Cup final in England in the last couple of decades. This is worth knowing if you enjoy online football betting in the UK. Betting on unfancied outsiders to win competitions outright can be risky, so an each-way bet mitigates this risk
Now You Have Had an Each Way Bet Explained, Try it Yourself!
An each-way bet is a good way of boosting your chances of success when betting on large fields. Although most commonly used in horse racing, it can be used in other sports too and is popular with football bettors placing wagers on outright markets.
Now that you have had an each-way bet explained to you, it should be straightforward to make it an integral part of your betting armoury.