When To Bet Each Way And When To Avoid It
Each way betting can appear complex at first. It is a common option for horse racing and other selected sports betting categories. Unlike a win-only wager, it has a split format with two separate outcomes.
Understanding when this type of bet could potentially be useful and when it may not offer as much value can help may make informed decisions. Whether placing bets online or in a shop, this guide explains the basics, answers common questions, and outlines the situations where each way betting may apply. Read on to learn more.
How Each Way Betting Works
An each way bet consists of two separate bets. One part is placed on your selection to win. The other is placed on the same selection to finish within the top places. The number of places can vary depending on the event and the bookmaker’s terms.
The number of places paid and the place fraction can differ depending on the type of event and the bookmaker. Horse racing often features different terms based on the number of runners. You can view the each way terms before placing a bet to see how your potential return would be calculated.
If your selection wins, both the win and place parts are settled as returns. If it only places, the win part loses but the place part may return something, depending on the odds and place terms.
The Sweet Spot: Odds That Suit Each Way Bets
Some bettors find each way betting more appealing at certain odds. When odds are low, the place return may not cover the full stake used. For example, selections at or below 2/1 often return less than the total stake, even if they place.
Each way bets are often used with odds in the range of 9/2 to 20/1. At these odds, the selection might not be a clear favourite but may still finish in the places. This can result in a return on the place side even if the selection does not win.
Event terms and place fractions also affect potential outcomes. A race offering 1/5 odds for placing in a large field may provide different value compared to one offering 1/4 odds in a smaller field. Checking each way terms on the specific event could help you understand the structure before placing a bet.
When An Each Way Bet Might Not Be Worth It
Each way betting is not always used in every situation. If your selection is at short odds, the place part may not offer a return that covers the full stake. This means you could still make a loss even if the selection places.
Events with fewer runners may also affect the place terms. For instance, in races with fewer than eight runners, only the first two places may count. In such cases, the potential return from the place side becomes more limited.
Each way betting is usually associated with horse racing and selected sports. It is not a common format in casino games or other fixed-odds events. If you are unsure whether each way betting applies to a particular market, it could be a good idea to check the available options before making a selection.
Low Odds And The Risk Of Poor Value
Low odds can reduce the potential return from an each way bet. For example, if the odds are 2/1 and the place terms are 1/5, your place return would be calculated as 2/5 (0.4/1). A £1 place bet would return 80p profit plus your £1 stake—£1.80 in total. However, your total stake would have been £2, so a place return alone would not cover your full outlay.
It might be helpful to check the specific place terms being offered. These can differ between bookmakers and across events. When using each way bets with lower odds, returns can sometimes fall short of your full stake, depending on how your selection performs. Bettors should always remember to gamble responsibly and within their means- never wager more than you can afford to lose.
Real Example: What Happens On Each Side Of The Bet
As an example, suppose you place a £1 each way bet on a horse at 10/1. The total stake is £2. The bookmaker pays 1/5 of the odds for a place, covering the top three finishers.
If the horse wins, the win bet pays £10 profit plus the £1 stake. The place part is calculated as 1/5 of 10/1, which is 2/1. This returns £2 profit plus the £1 place stake. In total, the return would be £13.
If the horse finishes second or third, the win part is lost. The place part returns £3 (£2 profit and the £1 stake).
Should You Back To Win Instead?
A win-only bet means the full stake is placed on your selection to finish first. If the selection does not win, the stake is lost.
Using an example: a £2 win bet at 5/1 would return £10 profit plus your £2 stake, giving a total return of £12 if the selection wins.
Win-only bets are straightforward. Many sports markets do not offer each way options, so win bets are the standard in those cases.
Comparing Returns On Win Vs Each Way
The returns from a win-only bet and an each way bet can differ depending on the outcome. For instance, a £2 win bet at 8/1 returns £16 profit plus your £2 stake, for a total of £18 if your selection wins.
With a £2 each way bet at 8/1, the total stake is split between win and place. If the selection wins, both parts pay out. If the selection places but does not win, only the place return applies.
The return from each option will vary depending on the odds, the number of places, and the place terms.
How To Work Out Your Each Way Winnings
To calculate your each way return, divide your total stake in half. Use the full odds for the win part and the place fraction for the place part. If your selection places but does not win, only the place part returns a payout.
Many licensed betting websites show estimated returns when you enter your stake and select each way. This could help you see the potential return before confirming the bet.
Is Your Total Stake Always Doubled?
Yes. An each way bet places one stake on the win and one on the place. This means the total stake is double the unit amount. A £1 each way bet will cost £2 in total.
Licensed websites generally display the total stake clearly before the bet is placed.
Why Each Way Isn’t Always The Safer Option
Each way betting involves a higher stake than win-only betting, as you are placing two bets. The place part returns a reduced fraction of the win odds. If the selection finishes outside the placed positions, both parts lose.
Each way terms can also vary. The number of places paid and the fraction used can influence whether the bet returns anything. Checking this information might help you understand how the stake will be settled.
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**The information provided in this blog is intended for educational purposes and should not be construed as betting advice or a guarantee of success. Always gamble responsibly.
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