So, you’ve probably heard of each-way betting… but why should you give it a try?
Each-way betting essentially provides a means of increasing your chances of a return from a bet.
An each-way bet (or EW bet) effectively consists of two separate bets – for a selection to win, and for it to place.
A return will be guaranteed if the horse wins the race or finishes in the ‘places’, usually the first three.
Here’s our simple explainer as to how each-way betting (EW betting) works…
Each Way Explained – What does win and each way mean?
Looking to place a bet but unsure as to whether you should go win only or each way?
For the uninitiated, each-way bets can initially seem confusing.
However, once you’re fully up to speed on how each-way bets work, they can provide some of the best value going – particularly if you’ve done your research ahead of your chosen event.
Let’s consider a fictional horse race.
Blue Monday is running in the 14:25 at Newmarket.
He’s priced at 10/1 with Marathonbet to win the race, with the favourite priced up at 4/1.
Recent results suggest he’s nowhere near his best form, but he does have a habit of saving his best performances for this particular racecourse, and he’s got an impressive jockey booked. It just so happens that you’re also a fan of the song that gives him his name.
All that combined means you’re leaning towards backing him… but what type of bet should you place?
You could place a win only bet.
As the term ‘win only’ suggests, you’ll only win if Blue Monday takes the victory. That means if you bet £10 at 10/1, you would receive £110 back (£100 profit plus your £10 stake).
However, you’ve still got those creeping doubts about his current form.
In this scenario, an each-way bet could be a better option than a win only bet, given this horse doesn’t look a sure-fire winner, but does have more than enough potential to perform strongly on the day.
How to calculate each-way bets
So, you’re ready to make your selection.
Blue Monday has won your backing.
Now it’s time to place the EW bet.
The first thing to remember is that, as an EW bet consists of two stakes, your initial stake outlay will be double. In effect, a £5 each-way bet would cost you £10, and so on.
For this race, you place a £5 each-way bet on Blue Monday at 10/1.
The race is a handicap with 12 runners, so the bookmaker will be paying out based on place terms of 1/4 the odds for the first three places. (Place terms vary depending on the number of runners and type of race, the table showing the variations can be found here.)
Your initial outlay is £10.00 (2 bets of £5.00; one to win, one to place).
If Blue Monday wins, you would receive £72.50 (£62.50 plus your stake back).
However, if he finishes in the places, you would still receive a healthy return of £17.50 (£12.50 plus your £5 place stake back, the win money being lost).
That’s one reason why each-way betting is an appealing option for certain bettors, as it can offer greater potential for a return compared with a win only bet.
Each-Way Bet FAQs
How many places does each way pay?
What constitutes a place position can vary depending on the event or bookmaker.
However, this information will be outlined to you prior to placing the bet.
On Marathonbet, you’ll find this above the market (pictured).
Though, remember, on horse racing the final place terms are dependent on the actual number of runners who start the race.
How does each-way betting in football work?
While EW betting is common in relation to horse racing events, each-way betting in football more often applies to the outrights markets.
Each-way betting in football tends to be a popular way of betting on popular high-profile tournaments such as the World Cup or Champions League, where you could receive a payout for placed finalists (1,2 EW) or semi-finalists (1,2,3,4).
How do each-way accumulators work?
Each-way accumulator betting can potentially be a shrewd option if you’re betting on a number of races and want to maximise your chances of a return.
As with all EW bets, an each-way accumulator consists of two parts – a standard accumulator on each horse to win their race, with the second part of the bet on each to place (again place terms will be outlined by the bookmakers).
This means you can still potentially secure a return should one of your chosen runners fail to win its race but places instead.
Is each-way betting profitable?
Firstly, it’s important to state no bet comes without risk, and it’s always important to gamble responsibly.
However, for bettors who have a strong degree knowledge of a certain sport, market or event, each-way betting can be a means of minimising risk from a bet as they provide a greater chance of a return than a win only bet.