Each-Way Betting Explained
A lot of value can be found when betting each way, so knowing how the betting type works is certainly an advantage. Our guide tells you everything you need to know, highlighting when and why it is useful.
Short Answer
Put simply, you are staking money on two bets instead of just one, and each of them is on two different outcomes. In addition to the winner bet, you also place a bet on the selection to place, which covers you for a certain number of places depending on the bookie.
Usually, two places are offered for races with 5-7 horses, while three places are offered for races with 8-15 horses and so on. How much you win from the place part is determined by the original odds, as bookies tend to offer around 1/4 of the original odds for the place part.
If you stake £5 each-way, so £10 in total, on a selection with odds of 1/1 and place terms of 1/4, you will get £6.25 if only the place bet comes through. If both win, however, you will get £16.25.
How Each-Way Betting Works
Each-way betting is a really useful tool to use when you understand it, while for many punters, it can actually be a really quick way to lose money. In this guide, our goal is to explain when and how you should make use of it, adding another string to your bow.
So, what actually is each-way Betting? Put simply, you are staking money on two bets instead of just one, and each of them is on two different outcomes. In addition to the winner bet, you also place a bet on the selection to place, which covers you for a certain number of places depending on the bookie.
Furthermore, each-way betting can be done with singles or multiples, which makes it a much better prospect too. Some bookmakers will also offer more places, whilst others will regularly offer better each-way odds, but the actual concept remains the same.
To give an example, let's say that a horse is 1/1 to win a race in a field of seven runners. When you place an each-way bet on the horse, this means the bet will be paid out even if the horse doesn't win, as long as it places (top two is a common cut-off).
Subsequently, the 'place part' is usually paid out at between 1/3 and 1/5 of the original odds, while the winner bet will be paid out at full odds if the horse wins. If you stake £5 each-way (£10 total) on the example bet with place terms of 1/4, you will be paid £6.25 if your horse places. If it wins, you will be paid £16.25 as both bets won.
Of course, this then begs the question regarding when it's worth to place an each-way bet. Below, you can find the break-even place positions and the market prices:
- Place Odds 1/3 - 3/1 and above to break even without win
- Place Odds 1/4 - 4/1 and above to break even without win
- Place Odds 1/5 - 5/1 and above to break even without win
Of course, the bigger odds you bet on, the better returns you will get on each-way places, but this is where you must be more aware of your stakes. In addition to this, you can find the general guideline for a place payout:
| 2-4 horses | First place only |
|---|---|
| 5-7 horses | Top two finish |
| 8-15 horses | Top three finish |
| 16+ horses | Top four finish |
The above aside, the best horse racing betting sites can offer much better place terms and also boost the number of places with special racing offers for big events such as Cheltenham, the Grand National, and more.
How to Place an Each-Way Bet
Below, you can find out how to place an Each-Way bet if you have never placed one before, do not worry though, as it is very easy:
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Open your chosen betting app or site
The step is simply to choose your preferred betting operator, though we have used Bet365's app in this case, simply because many view it as the best on the market for horse racing and other sports.
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Navigate to the market
Each-Way Bets can be placed on a number of sports, but it is normally when placing is involved, so horse racing and greyhound racing are most popular. However, Bet365 also operates a first scorer Each-Way system.
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Make Your Selection
After browsing the market, find a selection, or multiple, that you like the look of and then add it to your betslip.
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Add Each-Way and Place Bet
Finally, tap the 'Each-Way' option within the bet slip, enter your stake and place your bet, it is that simple and quick. Good luck!
Steven is an experienced iGaming content writer who has been working in the industry since 2018. He is passionate about sports betting and enjoys writing about all aspects of the industry, including bookmaker reviews, betting tips and strategies, and news and analysis.