Sometimes you’ll hear people say, “That’s worth an each-way bet,” but what exactly does that mean, and how do you bet each way?
If you’re looking for a straightforward guide to each way betting, then look no further – I’ve got your back. My guide will show the right steps on how to structure an each-way bet and when it is or isn’t appropriate.
For example, if you think your horse has a high chance of doing well in the race but isn’t necessarily likely to come in the first place – that’s where an each-way bet comes into play – with payouts up to 4th place depending on how many horses are running.
The each-way bet is really two bets in one. The first part of the bet covers your horse winning the race. The second part of the bet covers your horse if it fails to win but finishes in 2nd, 3rd, or 4th place.
Because the each-way bet has two parts, the stake is doubled. For example, a £5 each-way bet actually costs you £10. You can’t bet on a horse each way if the race has less than five runners. A race with 5-7 runners will only payout for a 2nd place.
When And How To Bet Each-Way?
It’s worth noting that you will only get 1/4 or 1/5 of the quoted odds if your horse finishes in 2nd, 3rd or 4th place. This means you shouldn’t back a horse each way unless its odds are over 6/1. This is because you could never win enough to cover your original stake.
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Writing out a betting slip for an each-way bet is quite simple. All bookmakers offer the service, and online it’s as easy as ticking a box. Some even promote additional places for big sporting events. So you may even see bookmakers paying out to 10 places on golfing tournaments such as The Masters, or even pay out on 5th place for big races like the Grand National.
Don’t forget, though, betting each way isn’t just for horse racing. You can bet each way on a lot of sports now, football and golf being two popular ones. An each-way bet can be placed on them in things such as ‘Top Scorer’ or ‘Who Will Win The League’. The bookmakers will specify how many places get paid out.
For example, you could back Harry Kane to finish top goalscorer. If the bookmakers paid three places and Kane finished third overall, you would still get paid something back. But remember to check the odds to see if it’s even worth betting each-way!
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An Example Of Betting Each-Way
The first example is an each-way bet that wins. You’ve put £10 EW (total £20) on a horse to win at 5/1, and the each-way is for the first three places at 1/4 of the quoted odds.
- The first part of the £10 EW bet would return £60. This is £50 profit from the odds of 5/1, and then the £10 stake is also returned.
- The second part of the £10 EW bet would return £22.50. This is more complicated to work out. £12.50 is profit i.e. £10 x 5 (5/1 odds) = £50. £50 / 4 (a quarter of the odds) = £12.50. The remaining £10 comes from the stake being returned for the second bet winning.
- So overall, a winning £10 EW bet at 5/1, paying three places at 1/4 odds, would return £82.50, a £62.50 profit.
The second example is an each-way bet that comes in fourth place when paying five places.
You’ve put £5 EW (£10 in total) on a horse to win at 15/1, and each-way pays out 1/5 of the quoted odds.
- The first part of £5 EW would return £0. This is because this bet was only on the horse to win, and as it came 4th, that initial bet lost.
- The second part of £5 EW would return £20. A fifth of the quoted odds is 3/1. That returns a £15 profit and then your £5 stake.
- Overall you have received £20 and made a £10 profit.
Each-Way Betting in Golf
Next up on the tee, we have golf! It might not have the pace of horse racing, but trust me, each-way betting in golf can be equally as thrilling.
Tournaments often have large fields, sometimes over 150 players, meaning there’s a wide range of potential outcomes. In golf, the ‘place’ part of an each-way bet typically extends to the top five, top six, or even more places during major tournaments. Some bookies even offer spectacular deals during the biggest events like The Masters or The Open Championship, where they might pay out if your golfer finishes in the top 10!
So, don’t shy away from swinging your each-way bets in the world of golf – it might just land you on the green!
Each-Way Betting in Football
On to the world’s favourite sport, football (or soccer for our American friends). You might wonder, “how can I place an each-way bet in a match with only three possible outcomes?” Well, in match betting, you can’t. However, each-way bets become super handy when we look at football tournaments or league outrights.
You could, for example, place an each-way bet on a team to win the World Cup. If they make it to the finals but lose, you’re still in for a treat because your place bet comes into play. Similarly, you could place an each-way bet on a team to win the Premier League at the start of the season. Even if they don’t lift the trophy but finish in the top three, you’ll still get a payout. Neat, isn’t it?
Each-Way Betting in Greyhound Racing
Much like their equestrian counterparts, greyhound races offer great opportunities for each-way bets due to their larger fields and unpredictable outcomes. Greyhound races are short, fast, and exciting, meaning the favourites don’t always cross the line first.
An each-way bet can be a smart move if you have a hunch about a greyhound, but you’re not 100% sure it will take the gold. As with horse racing, you’ll often see the place terms in greyhound racing cover the first two or three finishers. So if your chosen hound doesn’t come first but sprints its way into the top two or three, your each-way bet will still give you a reason to cheer.
You might wonder, “How can I place an each-way bet on a darts tournament?” Well, just as in football, each-way betting isn’t about individual matches in darts, but rather the outright winner of the tournament.
Each-Way Betting in Darts
Darts tournaments, such as the PDC World Championship, feature a large number of players, all with different odds of winning. This brings both opportunities and uncertainties.
A clear favourite might be easy to spot, but darts is a game of upsets. Who could forget when rank outsider Kirk Shepherd made it all the way to the final of the 2008 PDC World Championship?
This is where each-way betting shines! Say, you have a feeling about a player who isn’t necessarily the top seed, but you believe they have the chops to go far in the tournament. You can place an each-way bet on this player to win outright. This means half of your stake goes on them winning the tournament, and the other half goes on them ‘placing’ – often, this means reaching the final.
If your chosen player goes on to win the tournament, both parts of your bet payout. However, if they only make it to the final but don’t manage to claim the title, you don’t walk away empty-handed. The ‘place’ part of your bet still gives you a payout!
So next time you’re engrossed in a thrilling darts tournament, remember that each-way betting could be your ticket to some darting delights. No matter if the player you back hits the bullseye or just narrowly misses, you could still be in for a win.
So there you have it, folks! Whatever sport you’re into, each-way betting can add an extra layer of excitement and potentially bring in some tidy returns. Whether you’re rooting for a horse, golfer, football team, or greyhound, there’s always room for an each-way bet in your strategy.
