What is Each Way Bet? Bet Type Explained by Expert

Begin your betting education with a thorough examination of the Each Way Bet, a significant facet within the betting domain. This detailed guide aims to dissect the mechanics and intricacies of this particular wagering strategy, offering insights into its application across diverse sports and catering to individuals at varying levels of expertise. Delving into the nuances of the Each Way Bet promises to augment your betting knowledge and enhance your proficiency in navigating the betting landscape.

1. Each Way Bet Explained

An each way bet represents a combination wager encompassing two distinct bets within one. It's commonly utilized in sports betting, especially in horse racing, golf, and other competitions where multiple outcomes are plausible.

An each way bet is essentially two separate bets: one for the selection to win and another for it to finish within a predetermined range of positions, commonly referred to as "places." 

This betting strategy offers a compromise between risk and safety, as it provides a payout whether the selection wins outright or finishes within the specified places.

1.1. Win Bet

The win bet component in an each way wager mirrors a standard bet. It involves staking an amount on the selection to emerge victorious, securing a payout only if the chosen outcome wins the event.

For example: 

Imagine you place a $5 bet on a football team, let's call them "Team A," to win a match at odds of 3:1.

• If "Team A" wins the game, your $5 bet will yield a payout.
• If "Team A" doesn't win the match, your win bet loses, and you won't receive any payout.

1.2. Place Bet

Complementing the win bet, the place bet anticipates the selected outcome to secure a specified position within the event. The number of places that qualify for a payout varies across different sports and betting markets. Commonly, it involves securing a position within the top two, three, four, or sometimes even more, depending on the event and the terms offered by the bookmaker.

For example:

Imagine you place a $5 bet on a tennis player, let's call her "Player X," to finish in the top 2 positions in a tournament.

• If "Player X" finishes the tournament in 1st or 2nd place, your $5 place bet wins and pays out at reduced odds.
• If "Player X" finishes below the top 2 positions (3rd place or lower), your place bet loses, and you won't receive any payout.

In an each way bet, if the chosen outcome wins outright, both the win bet and place bet are successful, yielding separate payouts for each. Alternatively, if the selection doesn't win but finishes within the specified places, the place bet secures a payout, often at a fraction of the original odds.

2. Each Way Bet Examples

2.1. Each Way Bet in Horse Racing Betting Example

In horse racing betting, an each way bet involves two separate bets: one on the horse to win and another on the horse to finish within a specified range of positions. Let's consider an example:

Each Way Bet on Horse "Speedster" in a Race:

You place a $10 each way bet on "Speedster" in a horse race at odds of 5:1. The terms specify a payout for the top 3 finishers (1st, 2nd, or 3rd).

1- If "Speedster" wins the race, both the win and place parts of your bet win:

• Calculation for win bet: $10 (stake) x 5 (win odds) = $50 (total return, including the initial stake)
• Calculation for place bet: $10 (stake) x 5 (place odds at 1/5 of win odds, assuming) = $10 (total return, including the initial stake)
• Total return: $60 (including both win and place bets)
• Profit: $50 (total return - initial stake)

2 - If "Speedster" finishes 2nd or 3rd (but doesn’t win), the win bet loses, but the place bet wins:

• You receive the place part of the bet at 1/5 of the win odds.
• Calculation for place bet: $10 (stake) x 5 (place odds) = $50 (total return, including the initial stake)
• Total return: $50 (including only the place bet)
• Profit: $40 (total return - initial stake)

2.2. Each Way Bet in Football Betting Example

In football, each way bets are less common but might involve wagering on a team to win a league or finish within the top few positions. For instance:

Each Way Bet on Team "Red Dragons" to Win the League:

You place a $20 each way bet on "Red Dragons" to win the league at odds of 8:1. The terms specify a payout for the top 3 teams in the league.

1 - If "Red Dragons" win the league, both the win and place parts of your bet win.

Calculation for win bet: $20 (stake) x 8 (win odds) = $160 (total return, including the initial stake)

Calculation for place bet: $20 (stake) x 8 (place odds at 1/4 of win odds, assuming) = $40 (total return, including the initial stake)

• Total return: $200 (including both win and place bets)
• Profit: $180 (total return - initial stake)

2 - If "Red Dragons" finish 2nd or 3rd, but not 1st, the win bet loses, but the place bet wins:

You receive the place part of the bet at 1/4 of the win odds.

Calculation for place bet: $20 (stake) x 8 (place odds) = $160 (total return, including the initial stake)

• Total return: $160 (including only the place bet)
• Profit: $140 (total return - initial stake)

2.3. Each Way Bet In Golf Betting Example

In golf, each way bets are common, typically wagering on a player to win a tournament or finish within the top few positions:

Each Way Bet on Golfer "Ace Swing" in a Tournament:

You place a $15 each way bet on "Ace Swing" to win a golf tournament at odds of 12:1. The terms specify a payout for the top 5 finishers.

1 - If "Ace Swing" wins the tournament, both the win and place parts of your bet win:

Calculation for win bet: $15 (stake) x 12 (win odds) = $180 (total return, including the initial stake)

Calculation for place bet: $15 (stake) x 12 (place odds at 1/4 of win odds, assuming) = $45 (total return, including the initial stake)

• Total return: $225 (including both win and place bets)
• Profit: $210 (total return - initial stake)

2 - If "Ace Swing" finishes within the top 5 but doesn’t win, the win bet loses, but the place bet wins:

You receive the place part of the bet at 1/4 of the win odds.

Calculation for place bet: $15 (stake) x 12 (place odds) = $180 (total return, including the initial stake)

• Total return: $180 (including only the place bet)
• Profit: $165 (total return - initial stake)

Each way betting provides an advantageous safety net for bettors, allowing potential returns even if the chosen outcome doesn't win but secures a specified position, depending on the terms and the sport's rules.

3. How many places are paid on an each-way bet?

The number of places awarded in an each-way bet varies across bookmakers and is prominently presented on the betting market. This information constitutes a crucial aspect of the each-way terms, which also encompass the place odds (explained further below). Specifically in horse racing betting, the minimum number of each-way places is often contingent on the total number of runners participating in the race.

4. How to calculate the profitability of Each Way Bet

To calculate the profitability of an Each Way Bet, consider using our dedicated Each Way Bet calculator. This tool simplifies the process by factoring in the odds, stakes, and specific terms of the Each Way Bet, providing a clear estimate of potential returns based on different outcomes. 

Simply input the necessary details such as the stake, win odds, place odds, and the number of places paid by the bookmaker, and the calculator will swiftly generate the expected returns for both the win and place components of the bet. This efficient and user-friendly calculator ensures a quick and accurate assessment of the potential profitability of your Each Way Bet.

5. How To Make An Each Way Bet

Creating an each way bet involves a few key steps:

1. Odds: Determine the win part odds and subsequently influence the place part odds in each-way betting.
2. Each-way Places: Specify the required finishing positions for a place bet to succeed, varying between events.
3. Each-way Fractions: Represent reduced place odds, reflecting higher chances of placing over winning.
4. Placing Your Bet: Check the each-way (EW) box in the betslip after selecting your choice, noting that the stake is doubled for an each-way bet.

6. FAQs

What is an Each-Way Multi bet?

An Each-Way Multi bet combines multiple each way bets into one. It allows bettors to place each way bets on multiple selections across various events. For this type of bet to win, all individual bets within the multi bet must be successful.

Does an Each Way Bet Cost Double?

Yes, an each way bet effectively doubles the cost of the wager as it covers both the win and place components of the bet. For example, a $5 each way bet will cost $10 ($5 for the win bet and $5 for the place bet).

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