What is Each Way Betting?

Welcome to our each-way betting guide. Heard the phrase, but not been entirely sure what it means? Carry on reading down this page to get a true understanding of the term. It will also help you to establish whether this particular type of betting strategy is right for you.

Our guide covers various forms of each-way betting, click on the one you are looking for

Each-Way betting in horse racing

Horse racing is where each way betting is more commonly known and used. Each-way betting in horse racing is two bets in one.

It’s a bet to win, coupled with a bet to place. If you bet £5 “each way” on a horse that has odds of 4/1 to win, you’re betting £5 on the horse to win, and another £5 for it to place. The number of places that quality varies from race to race. Usual qualifying places range from the top three to the top five, depending on how many horses are participating.

If your horse fails to win but places, you receive a predetermined percentage of the full price. Usually a third, a quarter or a fifth (i.e. £5 at 4/1 @ ¼ odds = £10 returned). If it wins you receive the full price (i.e. £5 at 4-1 = £25 returned) plus your winnings for the place.

Horse Race Betting Each-Way

How to place an each-way bet

Placing an each-way bet is simple. It is offered by all betting apps in the UK and Europe where horse racing is popular. It is covered by some in the USA too where track racing is popular, such as the TVG app.

In this example, we will back a horse called Remeber the days at 4/1 in the 16.05 at Newcastle racecourse (This example is from a race that has already finished).

We are going to back the horse at 4/1 on the Betvictor app.

The first thing we need to know is what are the each-way options. If we head to the race we will see this information just above the list of riders, as shown below –

Find the each way odds and places they are paying in the race cards

In this example, we can see that Each way payment is 1/4 so a quarter of the odds if the horse places. Next to this, we can see the places they are paying which shows as “1,2” this means they are paying a quarter odds on the first two places.

To back this we need to tap on the horse to load it into the betslip as shown below.

Make sure you select each way on the betslip

We then need to add our stake and tap the box next to each way to get that bet. This will double the total stake as it is two bets so our £5 entered becomes a £10 bet. Once we have tapped place bets now our bet is placed. We will now look at how we calculate the returns and then what difference the to place odds make.

How are each-way bets calculated?

The below breaks down the bet entirely for you. The example is based on a £5 each-way bet on a 4/1 horse where rules dictate that placed positions are rewarded at quarter odds of the original price for the first two places.

Horse wins

BET 1  £5 x 4/1 = £20 + £5 stake back = £25

PLUS

BET 2 £5 x 1/1 (quarter odds) = £5 + £5 stake back = £10

Total staked = £10

Overall return = £35

Overall profit = £25


Horse Places

BET 1  LOSER = – £5

PLUS

BET 2 £5 x 1/1 (quarter odds) = £5 + £5 stake back = £10

Total staked = £10

Overall return = £10

Overall profit = 0


Each-Way-betting explainedA few things to highlight at this point. As a £5 each way bet consists of two bets, the stake is also doubled across the selections. A £5 each way bet indicates £5 to be placed on the winner and £5 to be placed on the placed positions. Therefore making the stake for this bet £10.

So if you have a £20 budget and want to place an each-way bet, you would be looking to place a £10 each way bet, not a £20 one.

Another point is that it doesn’t matter which place your horse finishes if it places, but fails to win. That is as far as returns go on each-way bets. If a race is offering ¼ odds for placed horses within the top five it wouldn’t matter if your horse finished 2nd or 4th. You would still see the same return of quarter the odds of the original price.

In our opinion, each way bets work best for higher-priced horses when they are paying out on a few places. This is common in the Cheltenham Festival where they boost the places they are paying and we some times see a high priced horse sneaking in 4th or 5th to take the place money.

To win vs each way

Something else to consider is the fact that if you had staked the total amount of an each-way bet on a winning horse to win, you would receive a greater return than backing it each way. Let’s take a look at why below.

£10 to win on a horse at 10/1 in a race that offers 1/4 odds for first 3 places

£10 x 10 = £100 + £10 stake back = £110

Total staked = £10

Overall return = £110

Overall profit = £100


£5 each way on a horse to win at 10/1

£5 x 10 = £50 + £5 stake back = £55

PLUS

£5 x 2.5 (1/4 odds) = £12.50 + £5 stake back = £17.50

Total staked = £10

Overall return = £72.50

Overall profit = £62.50

Therefore if you believe wholeheartedly that the horse you are backing is going to win, the best value is always going to be ‘on the nose’. This means to place the horse to win outright.

Which Betting Company Offers Each Way Betting?

All betting companies will offer each-way betting. Each way bets are usually offered in events with a large field – typically horse racing. You may be able to bet each way at the start of longer events with large fields, like the US or UK Open in golf, or Wimbledon.

On the better golf betting apps, we find that companies, like Coral and Paddy Power, boost the number of places they are paying on the golf majors. This comes with a word of caution though due to the number of players that tie in a position in golf. This leads to the money being split across the players and can lead to less of a return than expected.

When considering an each-way bet, you need to find a company that offer good percentages of the odds for a place bet. Poor companies may offer a percentage of the only ¼ for a place bet for a top-two finish in a medium-size field.

It pays to do your homework with each way betting and go with the larger betting companies, such as the William Hill app or Ladbrokes. 

Is Each Way Betting Right For Me?

There are two main reasons for each way betting – to protect your stake and to get good odds on a competitor that is likely to finish high up in the finishing order but is unlikely to win.

If you bet each way on a horse that is expected to win with low odds, you will recover some of your stakes back if the horse fails to win but does place. However, most of the time this strategy still results in a loss situation, should the horse fail to win.

Take the example of a horse with odds of 2/1 in a race that offers 1/4 odds for the first four places. The horse finishes second.

£5 each way on a horse to win at 2/1

BET 1  LOSER = – £5

PLUS

£5 x 0.5 (1/4 odds) = £2.50 + £5 stake back = £7.50

Total staked = £10

Overall return = £7.50

Overall profit = – £2.50


You may discover an outsider whose offered price is better for the punter than the competitor’s current form deserves. In this case, you are likely to ‘cash in’ if the outsider comes good and places, with the added bonus of a slight windfall if it wins.

What is a place bet?

An each-way bet is not the correct bet to use if you don’t believe the horse has any chance of winning. Even if you strongly believe that the horse will manage to finish within the places.

In this situation, it makes much more sense to simply back the horse ‘to place’. This eliminates the ‘to win’ section from the each-way bet to leave a single bet on the backed horse placing. There is a specific market for this and odds tend to reflect those offered within the each-way terms of the race in question.

From our example above if we go to the main market for the race we will find the “Place betting” market at kist above the list of runners. Here it will tall us the number of places they are playing. In some smaller fields, this market will not be available. Once we tap on the market we will see the odds as follows

The to place market is a good alternative to an each way bet

As you can see, our selected horse “Remember the Days” now has odds of 5/4 to place rather than the 4/1 to win. This is shorter than the to win odds but will get a much better return if it finishes second in the race. On this horse at these odds, this would be our preferred selection.

Each way multiples

Each way accumulators are something we would advise avoiding! If you place an each-way acca then you are still placing two bets. If one horse doesn’t place then both bets have lost. This does not represent good value to us. You can also place each-way bets on a range of multiples such as the lucky 15. These again are two bets and the returns can be difficult to calculate depending on the results. As shown in the example below from the Betway Sports app.

Each way multiple bet options

As you can see the stake is multiplied for the lucky 15 and then again when each way is selected. The returns always look high at this point as that’s the return if every horse wins. As soon as one loses then the returns will drop dramatically.

In our opinion, you would be better to place an accumulator or any multiple on the to place market. This does mean a lower return if they all won but carries significantly less risk. This is your choice when you place the bet depending on your personal thoughts on the bet.

Each-way betting in football

Each-way betting is possible in the football markets too, across different markets. For example large tournaments such as the World Cup, Champions League, etc. In this situation, you can back a team to win the tournament ‘each-way’ and then see a return on the bet even if the team fails to win the tournament.

Football Betting Each-Way

The tournament markets offer long term betting each way. Below is an example from the bet365 app. This is the top Premier League goalscorer market –

Top goal scorer market offers each way betting

As you can see from the above, each way details are in the right above the player’s list. In this example, it is 1/4 odds for getting a player in the top 3.

Normal offerings here in terms of each way terms tend to be on 2 places at 1/3 odds. Scanning around may lead you to find a bookmaker offering 3 places at 1/4 odds. Betway is one example of a bookmaker who is more generous with their place positions, but more lenient with their odds.

Each-way betting is also offered within the first goalscorer market. Certain bookmakers provide this option as a little safety net for those who would like it. In this situation, the each-way part of the bet becomes the anytime goalscorer option for the same player.

Conclusion

Each-way betting is a great way of both increasing your gambling earnings and minimizing your losses. You will lose more often if you simply bet on everything to win. True, the actual amounts you will win are greater, but over the long run, and on average, you will make more and lose less if you place more each way bets then bets “on the nose”.

Experiment with each-way betting and see how you perform in the long run. Compare your results with how you would have done if you’d simply made all your bets “to win”. You’ll almost certainly find out each way betting is a preferable strategy.