Each way betting is a form of betting that involves two bets so double the stake unit. It is most common on horse betting and football but also possible in other sports. When you are betting each way, you are backing a horse or team to win and a horse or team to make the each way places. Each way betting is insurance against the backed outcome not happening but the selection finishing second, third or fourth. You place an each way bet because you feel the selection might not win but could finish in the each way betting payout places. Here is a list of the best betting sites for each way bets:
What does betting each way mean?
Betting each way means two types of bet. The most common wager in betting on any sport is the win bet. This is one bet and the selection must win or it is a loser. The cost of a win bet is the stake unit. So, a £10 win bet costs £10 because that stake covers the bet. There is a second element to an each way bet which is the place. The cost of an each way bet is two times the stake unit. So a £10 each way bet costs £20. Each way betting is suited to bettors that are risk averse. The extra stake is seen as worth the investment because the selection does have to win for a successful bet.
What does each way betting mean?
Bookmakers issue prices for a sporting event which could be a horse race or football match. However, you can have an each way bet on the outright winner of a golf championship or tennis tournament. The betting odds reflect the probability of something happening. In fixed odds betting, you back an outcome. Each way betting is not right for exchange betting because this involves backing an item to happen or betting on the outcome not to happen (laying). Bookmakers settled each way based on the win odds and each way place terms.
What does betting each way mean?
So when you are betting each way, you are not backing the selection to necessarily win the event. The odds have to be decent to justify an each way bet. You would rarely back the favourite each way because the odds and terms negate the benefits of each way betting. You are more likely to place an each way bet on an outsider because this type of bet can still be profitable even if the win element lets down the bet. Professional gamblers look for each way value when a horse is an outsider. The each way odds may not be a true reflection of the chances of the selection placing.
How does each way betting work?
One of the key factors in horse racing betting each way is the place terms. These terms are based on the number of horses and places in a race and the place odds proportion. Here are the standard place terms when betting each way on horse racing in the UK:
- Handicaps with 16+ runners: one quarter the odds for 4 places.
- Handicaps with 12-15 runners: one quarter the odds for 3 places.
- Other races with 8+ runners: one fifth the odds for 3 places.
- All races with 5-7 runners: one quarter the odds for 2 places.
- All races with less than 5 runners: win only.
Some bookmakers offer extra places for high profile races but these place terms apply in most races for each way betting. Bookmakers use enhanced each way betting terms to attract new customers and maintain the loyalty of existing customers.
How to work out betting odds each way
The best way to illustrate how to work out betting odds each way is with an example of an each way bet for horse racing and football:
£10 each way Vintage Clouds to win the Grand National at 40/1 with place terms of one quarter the odds for 4 places:
- Win: £10 at 40/1 returns £410 for a profit of £400.
- Place: £10 at 10/1 (quarter the odds) returns £110 for a profit of £100.
£10 each way Manchester United to in the Premier League at 20/1 with place terms of one fifth the odds for 3 places:
- Win: £10 at 20/1 returns £210 for a profit of £200.
- Place: £10 at 4/1 (fifth the odds) returns £50 for a profit of £40.
Each way betting calculator
These each way betting worked examples are basic but others can be more complex. An each way betting calculator works out the returns for each way singles, multiples and system bets. You enter the SP and place terms and the bet calculator settles the bet. This tool also accommodates dead heats and Rule 4 Deductions. A system or multiple bet can combine horses that win or make the places at different place terms. The bet calculator saves time and will be accurate as long as the user enters the correct bet information into the appropriate fields.
What does each way mean in horse betting?
Here are major meetings and races to illustrate horse betting each way.
The Cheltenham Festival is the biggest betting meeting of the year in the UK. Betting is huge across the four days and 28 races. The meeting features championship races for hurdlers and chasers over a variety of distances. There are also several big field handicaps which suit to each way betting. These races attract up to 24 runners which means each way terms of one quarter the odds for four places. Some bookmakers offer extra places for the purpose of each way betting. The races are open which means there is some value in placing an each way bet.
The Grand National is the most famous steeplechase in the world and the biggest individual race for betting in the UK. Bookmakers issue ante post betting on the winner and horses to be placed. The Grand National usually has a field of 40 runners so the place terms are one quarter the odds for four places. However, there is no value in betting each way at those terms. Some bookmakers offer extra places so you could place a bet at place terms of one quarter the odds for six places. The win element will not be generous but some bettors prefer the enhanced each way terms.
The Derby is the most prestigious Flat race in the sport. The race is for colts and fillies aged three and is run at Epsom Racecourse over one mile and four furlongs on the first Saturday in June. The race attracts a field of more than eight runners but it is not a handicap. So the place terms for the Derby are one fifth the odds for the first three places. The favourite usually starts at a short price so does not justify an each way bet. The best horse on form often wins the Derby. It is the second race of the colt’s Triple Crown which also includes the 2,000 Guineas and St Leger.
What does each way mean in betting football?
Here are major competitions to illustrate football betting each way.
The Premier League in England is the biggest football betting league in the world. At the start of the season, betting sites publish ante post betting for the outright winners. There are 20 teams in the Premier League. Each way bets on the champions have terms of one fifth the odds for three places. Bookmakers update betting after each round of matches. As the season progresses, each way place terms change. During the season, the each way terms change to one half the odds for two places. Towards the end of the season, bookmakers only accept win bets on the league winners.
The Champions League is the biggest club completion in the world. There are qualifying matches, group stages and knockout rounds which culminate in a one-off final. Eight groups of four teams make up the group stages which means 32 teams in total. Bookmakers settled bets at one quarter the odds for four places. Teams that qualify for the semi-finals make up these four places. At the quarter- finals stage, the place terms are one half the odds for two places. Win only betting is allowed on teams in the last four and final. Each way betting is also available on the top scorer.
The World Cup brings together the best international teams in the world. The finals take place every four years and there are 32 finalists. Groups and playoffs determine the finalists but these elements only allow for win betting. Bookmakers do accept each way bets on the winner of the tournament. The place terms are usually one half the odds for two places. The placed teams are the winners and losing finalists. Win only bets are accepted from the semi-final stage and onwards. There is each way betting on the winner of the Golden Boot for the top scorer at one fifth the odds for three places.