What is an Each Way Bet? Each Way Betting Explained
Have you been wondering ‘what is an each way bet?’ or ‘what is each way in betting?’ well wonder more as we explain all in this post!
What is an Each Way Bet?
An each way bet is a bet that’s made up of two parts. Discover what they are, how they are calculated and the sports an each-way bet can be applied to.
Each way bets are most commonly used in horse racing betting, so let’s take that as an example. The first bet you make is for a horse to win, with the second selection being on the same horse to place. Of course, a win is finishing first. The number of available places will depend on the bookmaker, but it will likely include the top four to five finishing spots.
If your horse finishes first, you win on both bets. If your horse places, you only win on the second bet.
How do you make an Each Way Bet?
So, how does an each way bet work? It’s actually super simple, but relies on three key things:
The odds
The number of places
The each way fraction
When you bet on a horse race with BoyleSports, you’ll see the odds online for each horse running in the race – 10/1 for example. At the top of the race card, you’ll also see the number of places – say 1, 2, 3. And the each way fraction – usually EW 1/5.
The odds to win work in the same way as they would for any bet.
The number of places refers to the position your horse must finish in to place. With this example, they can finish in the top three spots to place.
When betting on a horse to place, there’s a higher probability it will finish in one of the top three spots than first. This means that your odds to place must be reduced. This is done so by the each way fraction.
If you bet £10 each way, you’re not just making a £10 bet. This is because with each way betting you’re making two bets. This means your stake would actually be £20.
How do you calculate an Each Way Bet?
Remember, when it comes to each way betting, you make two bets. This means there’s a chance you can win on both bets. If your horse finishes first, both bets will come in. If your horse doesn’t win but manages to place, you’ll win on the second bet.
A horse that wins
Using the above example of £10 bet on a horse to win at 10/1 with EW 1/5 1, 2, 3, a horse that finishes first would return the following:
To finish first at 10/1 = £100 profit + £10 stake.
To place @ EW 1/5 = £20 profit + £10 stake
Your total winnings would be £140
A horse that places
If your horse finished third for example, you would only win on the bet to place.
To place @ EW 1/5 = £20 profit + £10 stake
Your total winnings would be £30.
Before you make any each way bet, use our handy each way bet calculator to understand your potential winnings.
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Frequently Asked Questions
What are the advantages of Each Way Betting?
Each way betting increases your chances of winning. It effectively means that your chosen horse, or team, doesn’t have to win in order for you to get a return. For a race like the Grand National, where many bookmakers increase the number of available places, you stand a better chance of gaining a return – especially if your horse has long odds.
What are the disadvantages of Each Way Betting?
Remember, you’re making two bets with an each way bet. This doubles your stake, which means you’re at greater risk of losing money.
Where the odds are short, you also may not generate much of a return if you only place. With that in mind, it’s important to only consider an each way bet with odds higher than 4/1 with EW 1/4 or 5/1 with EW 1/5.
How many places is an Each Way Bet?
This depends on the race and the bookmaker. At BoyleSports, for most horse races throughout the racing calendar we offer EW 1, 2, 3 which is the first three places. But for more high profile events, we increase our number of places. When betting on the Grand National with BoyleSports you can opt for an each way horse bet for the first seven places.
How do Each Way Accumulators work?
A horse racing accumulator is a bet on the outcome of multiple races. An each-way accumulator works in much the same way as a standard each way bet. In this case, your first bet is on four or more selections to win their races. The second bet is the same four or more horses to place.
Just like any each way bet, you double your stake. But it means that if your outright accumulator lets you down by one horse for example, you still make a profit if that horse places.
In what sports can you make an Each Way Bet?
Horse racing is where each way betting originated and is the most common sport for each way bets. However, you can make an each way bet on any sport with an outright outcome across multiple players or teams. You could make an each way bet on the outcome of the Premier League – say Man City to win the title or finish in the top four. Golf and motor racing are also popular sports for each way betting.
A sport like boxing where two contenders go head-to-head, however doesn’t work for each way betting.
What happens if there is a tie?
Now this is where things get a little complicated. Let’s use the example of golf. If there are five places up for grabs and your chosen player finishes joint fifth with three other players, you’ll only win on the place part of your bet. This will then be divided by three as there are three players sharing one place.
If your player finished fourth with one other player, followed by one player in fifth, your bet would be reduced by 2/3, as there are three players sharing two positions.
Interested in learning more about betting and how it works? Then check out our article that explains Lucky 15 betting!
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