Horse racing betting sites offer a broad range of betting opportunities, making it difficult for novice punters to choose the best option. Should you go with straight bets or place an accumulator? Would it be better to play it safe or go for it with an exotic wager such as a Lucky 15 or a Canadian?
Many experienced punters swear in the powers of an each way bet. This betting option combines an effortless placement with high potential returns.
If you are looking for more info on each way betting, you came to the right place. So, without further ado, let’s look at the features and elements of each way wagering.
Quick Facts About an Each Way Bet
- An each way bet consists of two wagers — to win and to place.
- Bookmakers determine place terms for every betting market. From two up to five contenders can finish placed.
- Punters must double their single-unit stake when settling an each way bet.
- The odds on the place part of each way bets are paid as a fraction of the straight win bet.
- Each way bets are available for horse racing, football, golf, darts, and snooker.
- Each way bets offer the same payouts, regardless of the selection’s finishing position (2nd, 3rd, 4th).
- Each way multi bets comprise selections from various events, similar to accumulator bets.
- Most betting sites will let you trigger an each way bet via a checkbox on the bet slip.
Before we move on to the nuances of each way betting, we should revisit the basics and explain the definition of an each way bet. After that, we can move on to more advanced matters, including each way betting rules and propositions.
By doing so, we’ll cover every aspect of these betting options, providing you with a roadmap to success. Of course, you’ll still need plenty of luck to win massive amounts, but at least you’ll be heading in the right direction.
Each Way Bet — How Does It Work?
In essence, each way bets comprise two independent wagers — to win and to place. Hence, each way betting covers a broader range of possibilities than single selections. Simultaneously, the compounded winnings can lead to potentially higher profits than a straight bet.
In other words, each way wagers can give a return in two ways. If your selected horse finishes first, the win part of the bet will yield a return. Conversely, the place part will come to the rescue if the thoroughbred stumbles on the last fence and finishes the race second, third, or fourth.
Therefore, the payout for each way bet is more probable than with a single selection. We’ll discuss the odds later in this guide, but for now, know that each way wagering offers a safety net that’s perfect for beginners. With this betting option, you don’t have to predict the winner. You only need to back a high finisher, i.e., a strong contender for one of the top three or four positions.
Now that we know more about each way betting, it’s time to look at the actual wagering process.
How To Place an Each Way Bet
First, it’s vital to find a reliable and legitimate bookmaker if you want to place any bets, not only each way ones. A good-quality bookie, online or land-based, is a must-have for secure wagering and efficient transactions.
After that, find the event you wish to wager on and add it to the bet slip. If you are betting online, look for a check box marked with EW (as in each way). By doing so, the standard bet will turn into an each way option, asking you to double the stake.
And there you have it — placing an each way bet explained. We should also add that each way betting is not exclusive to horse racing betting. Moreover, this wagering option will be at your disposal when betting on football tournaments, darts, snooker, golf, or even Formula 1.
Any competition where the first four or five positions are precisely listed can offer each way wagering. For instance, a single football fixture is not suitable for each way bets.
What Odds Do You Get on an Each Way Bet?
Each way bets offer the same payouts on every placed position. Thus, you’ll see no difference in profits if your selected runner finishes second or third, or even fourth or fifth. Yet, the odds on these positions are paid as a fraction of the win bet.
In translation, if the odds are 2.00, your £5 stake on the win bet could reward you with a £10 profit. On the other hand, the place bets come at the odds of ½, ⅓., or ¼, depending on the place terms.
If you wonder what an each way bet on horse racing is, know that this betting option includes variable odds.
When placing wagers of this type, there are three potential outcomes, depending on the placement of your selected horse:
- The horse wins, resulting in maximum winnings.
- The horse finishes placed, resulting in a fraction of maximum winnings.
- The horse doesn’t place, resulting in no winnings.
Of course, the best UK betting sites will provide a bet calculator to help you determine expected returns.
Pros and Cons of Each Way Betting
The benefits provided by an each way bet are worthy of attention, primarily for players looking for ‘low risk–low gain’ betting markets. These wagers can minimise the risk, providing better profit in the long run.
Also, each way betting has a pronounced psychological dimension. Many players look at the place part of the wager as a safety net. If you miss the primary target, you can still win something via each way bets.
Conversely, many punters don’t like the psychological aspect of each way wagers. If you ask them what an each way bet on the Grand National is, most will say that it is a sucker bet. The critics of this betting type say that the doubled stake requires extra investments for low returns.
Arguably, each way wagers’ profitability is not the highest, especially on the place part. For that reason, many punters hesitate with settling an each way bet. Less experienced punters, in particular, prefer placing high-risk wagers, hoping to collect life-changing winnings.
Final Thoughts on Each Way Bets
As you could’ve seen, each way betting options have their benefits and drawbacks. For that reason, punters should have a deep understanding of these wagers when placing a bet.
The crucial thing is remembering that two parts of the wager require a double stake. At the same time, an each way bet increases the odds by expanding the number of winning scenarios. Depending on the place terms, you sometimes only need to predict if a horse will finish within the first five. As such, each way betting markets are among the safest at UK bookmakers.