What does it mean to place an each-way bet, and how does it work? 💡
A win bet on your selection to win an event and a place bet on it to finish inside a particular number of places given by the bookmaker beforehand make up an each-way bet. As a result, a £5 each-way wager necessitates a total wager of £10 (£5 win + £5 place). Each-way betting (abbreviated EW or E/W) is most often associated with horse racing, but it is also available on other events where bookmakers offer it, such as football, golf, and even reality television.
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An each-way bet is made up of two pieces. ✔️
Win the wager If the chosen wins the event in which they are competing, they are the winner.
Make a wager If the selection is completed within the required number of places, the player wins.
If your selection wins, your each-way bet pays out on both the win and place parts.
Only the place element of the each-way bet pays out if your selection places.
What is the procedure for placing an each-way wager?
There are three things to keep in mind while placing an each-way wager.
- Odds: These are the odds for the win half of your each-way bet, and they determine the odds for the place part of your each-way bet (together with the each-way fractions).
- Each-way places: These tell you where your selection must finish in order to win your place bet. The locations available may vary. Find out more about this in the sections below.
- Each-way fractions: Because your pick has a better probability of placing than winning, the odds on the place element of your each-way wager are a fraction of the win odds.
Once you’re aware of these elements, you can place an each-way wager by ticking the each-way (EW) box on your betting site’s betslip. For an each-way bet, keep in mind that your stake is twice.
On an each-way bet, how many places are paid?
The number of places paid for each-way bets is determined at the discretion of your bookmaker and is stated where the market is posted. Along with the place odds, it is part of the each-way terms (see below).
Based on the size of the field in the race, a widely recognised minimum number of each-way places is offered in horse racing betting.
| Runners | Minimum each-way places offered |
| 1-4 | None |
| 5-7 | 2 |
| 8 or more | 3 |
| 16 or more (handicap races only) | 4 |
HOW DO I WIN? 💰
For each-way bets in horse racing, bookmakers must adhere to specified criteria. They are calculated based on the number of horses in a race.
Runners:
Runners 1–4 – No Places – Victory It’s a sure thing
5–7 participants – Odds of 1/4 – Only 8+ runners compete for first and second place. – 1/5 odds for first, second, and third place
12–15 participants (handicapped races only) 1st, 2nd, and 3rd place have 1/4 odds.
Runners aged 16 and up (handicapped races only) 1st, 2nd, 3rd, and 4th place – 1/4 odds
Both the ‘Win’ and ‘Place’ elements of your wager will pay you if your horse finishes first. However, if your horse merely finishes second, you will forfeit the ‘Win’ portion of your wager.
If your horse finishes 2nd, 3rd, 4th, 5th, or 6th*, you will still be paid on the ‘Place’ portion of your wager.
Just keep in mind that if there are more than 16 runners in a handicapped event, the bookie must pay out 1/4 of the odds.
If they stretch it to 5th or even 6th place, however, the payoff is cut to 1/5 of the advertised odds.
WHAT DO I GET AND HOW MUCH DO I GET? 💸
The amount won is determined by a variety of criteria. Most importantly, did your horse take first or second place in the race? And what were the odds when you placed the wager?
Let’s say your horse wins (1st) at 40/1 and you bet £5 each way for a total of £10.
The £5 ‘win’ component of your wager pays out £200 (£5 x 40/1) plus your original £5 ‘win’ stake, giving you a total of £205.
You’ll get paid out on the ‘place’ portion of the wager as well! In important races, however, bookmakers usually only pay out 1/5 of the advertised odds on the ‘place’ portion of the bet.
Your bet’s £5 ‘place’ part pays out £40. This is how it works: a fifth of 40/1 is 8/1, £5@8/1 = £40.00, and your original £5 stake is returned, leaving you with £45.
When you add this to the £205 ‘win’ component, you have a total of £250 in winnings.
Let’s say your horse finished third; keep in mind that with some bookies, it doesn’t matter if your horse finishes second, third, fourth, or fifth.
You lose the ‘win’ component of the bet as well as £5 because your horse did not win. However, as previously stated, you will receive £40 on the ‘place’ element of the wager, as well as the £5 place portion of your initial bet.
Extra places and enhanced each-way terms 📈
As a sort of existing customer offer, bookmakers frequently provide more than the regular amount of each-way places or more generous each-way fractions on selected daily races.
When it comes to high-profile races like the Cheltenham Gold Cup or the Grand National, where the bookies are always attempting to outdo each other, bettors are urged to shop around for the best available each-way terms.
What factors should I consider when deciding whether or not an each-way bet is worthwhile?
In some cases, each-way bets are more profitable than others. If you’re trying to decide whether to wager each-way or win only, consider the following two questions:
Will you at the very least break even if your picks don’t work out? 🤔
When considering whether to back your selection either way, it’s crucial to examine the win and place odds. This is because if the place odds aren’t evens (1/1) or greater, you lose money overall on an each-way bet.
Finding the each-way fraction and inverting it to give you the odds at which your each-way bet will break even if it places is a simple strategy to guarantee you only bet each-way on horses at odds that will repay at least your total stake if they place. For example, each-way fractions of 15 result in minimum odds of 5/1.
Bet £5 each way (total bet £10) on a horse with 5/1 win odds. If it places, your £5 win bet is forfeited, but the place portion of your each-way bet pays out at a fifth of 5/1, or evens (1/1). This means you’ll get your £5 stake back plus £5 in profits (£10) from the place half of your bet.
OTHER SPORTS, EACH WAY BETS 📢
You may gamble on practically any sport with an each-way bet. The wider the field of teams or athletes, the more likely you are to receive an offer of more spots.
In most golf competitions, for example, bookmakers will pay out each way bets to the top six players. However, as the event approaches, this number can be increased to at least ten.
This is a great chance to back a golfer who you believe will come close to winning but will be pushed into the places.
The same may be said for major football competitions. Even if you think a team will win the World Cup or the Euros, an each-way bet will protect you if they come in second. Just keep in mind that each-way bets on football competitions only involve the winner or runner-up.
OTHER SPORTS, EACH WAY BETS
You may gamble on practically any sport with an each-way bet. The wider the field of teams or athletes, the more likely you are to receive an offer of more spots.
In most golf competitions, for example, bookmakers will pay out each way bets to the top six players. However, as the event approaches, this number can be increased to at least ten.
This is a great chance to back a golfer who you believe will come close to winning but will be pushed into the places.
The same may be said for major football competitions. Even if you think a team will win the World Cup or the Euros, an each-way bet will protect you if they come in second. Just keep in mind that each-way bets on football competitions only involve the winner or runner-up.
Conclusion
This is especially true in horse racing, where the number of each-way places available varies depending on the number of competitors. Some combinations of field sizes and each-way terms are more appealing than others for each-way bets.
For each-way bettors, an eight-runner race and a 15-runner race, for example, pay out on three places as customary. In an eight-runner race, your 16/1 each-way bet only needs to finish ahead of five opponents, however in a 15-runner race, they must finish ahead of 12 opponents.
