Can I bet each way on the Betfair Exchange? It sounds like a daft question but it’s one I get asked often. The quick answer is YES you can, but it may not be obvious to new Betfair customers how to place the bet.
Betfair is slightly different than traditional bookies. There are essentially two different ways that you can bet. There’s the more common bookmaker section with fixed odds and there’s the Exchange. This is where you can ‘Back or Lay’ your selections. Basically it allows you to bet ‘against’ something.
This article is about the Betfair Exchange. Here, odds are separated into WIN BETS and PLACE BETS. The confusion arises because Betfair split these two bets into different markets. To get your each-way bet on with Betfair you need to look for the ‘TO BE PLACED’ link, this is usually directly under the main market (see example video).
The advantage of the Betfair Exchange place bet is you’re not forced into making two bets, as a traditional bookmaker would require. The normal bookies ‘Each Way‘ bet is actually two bets, that’s why it costs double.
A £5 each way bet will cost you £10 (£5 win, £5 place). Unless your selection actually wins, you can’t win both bets so you always risk losing a portion of your stake.
This doesn’t happen with Betfair Exchange’s ‘place’ bets. The downside is that Betfair Exchange place odds may be shorter than traditional bookies to reflect this. But it could still be more profitable than a traditional each way bet.
When To Place An Each Way Bet
Now, this may be stating the obvious, but it’s always good practice to be mindful of your return with an Each Way bet. Let’s say that you chose to make an each-way bet on a horse for 6/1. The chances are that your winnings will not be worth it.
So, always remember that your return on the each-way bet for the places other than first will only payout 1/4 or 1/5 of the odds. Make that assessment and choose an each-way bet that will pay out well.
Ok, as we have pointed out already, it’s very simple to make your each-way bet, it’s as simple as ticking the box. I mean, online you even get to see what your return would be if your bet came in. But a great tip is to check on any offers of additional places.
Additional Each-Way Bet Places
Betfair will regularly offer additional places for big events. For instance, they may offer payouts on the first eight places for a major golf tournament. And it’s quite usual for Betfair to offer the first five places for big races like the Grand National.
You can get each-way bets on more than just horse racing. To be fair, Betfair will offer each-way bets on pretty much any sport and it’s very quick and easy to see how many places etc are being offered. For instance, The Austrian Grand Prix is offering the first three places.
Football betting is a big favourite too and there are a great selection of bets available.
Let’s say that you fancy Mo Salah for the Golden Boot next season. Well, there’s a Top Goalscorer option, and Betfair gives you an option for an each-way bet on this too. If the first four places are offered each way and Salah finished third, you are going to get a payout, not bad hey!