If we talk sports betting, understanding the various types of wagers is crucial for maximising potential returns. Knowing what to bet on makes your chances for success much higher. One popular bet, especially in horse racing and golf tournaments, is the each-way bet. For players, it offers a decent balance between caution and potential reward. Such a combo makes it appealing for both new and hardened veteran bettors. Our blog will seek to explain and answer
- What is an each-way bet?
- Were to place these bets?
- Which strategies increase your chances of winning?
- What alternatives to these bets can you consider?
What is a Each-Way Bet?
An each-way bet is sort of like a combination of two separate bets: a win bet and a place bet. When you place this sort of wager, you are essentially making two different bets:
- Win Part. Bet on your selection to win the event outright.
- Place Part. Bet on your selection to finish in one of the top positions. This is specified and depends on the bookie.
Bookmakers offer different terms for the place part. It usually depends on the event and the number of runners. For instance, in horse racing, the place terms might cover the top 3, 4, or even 5 positions, while in golf tournaments, it might be TOP 5 or TOP 10, even.
Here’s a breakdown of how an each-way bet works if you take place a £10 each-way bet on a horse with win odds of 10/1.
- Let’s say that the place odds were 1/4
- This bet costs you £20 in total (£10 for the win part and £10 for the place part).
- If you’re lucky and both bets go well, you will get the max payout.
- The win part would pay out £100 (plus your stake back), and the place part pays based on a fraction of the win odds, commonly 1/4 (can be 1/5). Your profit is £125 in this scenario, so potential returns are pretty high.
- Only the place part pays out if the horse places but does not win. In this case, your profit is £15.
So, each-way bet is like a bet with a sort of insurance. The situation still allows you to profit decently if your horse finished in the TOP 3 or in a good position.
Where to Place These Bets?
Each-way bets are usually available on most platforms that offer horse racing, greyhound racing or even golf tournament bets. So, just like with almost any other bet, it can be done on various platforms, including:
- Online Bookmakers. Websites like Bet365, William Hill, and Paddy Power offer loads of each-way bets for a wide range of events.
- Mobile Apps. Just like with an online website, you can open the bookie’s mobile app and bet there.
- Betting Shops. Shops still also provide the option to place these and hundreds of different bet types at your convenience.
- Racecourses. For some, it’s still most fun and best to be right beside the action and place their wagers right at the course.
How to Win with an Each-Way Bet?
As with any other sports bet or wager, it’s impossible to accurately predict which horse is destined to win 100 % of the time. There are variables, unforeseen circumstances and hundreds of little details to consider.
This is why you need to focus on maximising your wins and minimising losses long-term rather than just trying to win every single bet.
Start out with an analysis of the field. For horse racing, consider the form, jockey, trainer, and track conditions. If we’re talking about golf tournaments, evaluate player performance, course history, and recent form.
Then, try to learn and spot value bets. Not all favourites can have attractive odds. Such a bet will pay low compared to the risk you’re taking. In this scenario, always focus on consistent athletes and performers because it’s great if your selection part of the bet wins, but it’s essential that they place.
Remember that an each-way bet doubles your stake. Ensure you are comfortable with the total amount being put on hold (wagered). And yes, look for promotions and bonuses to minimise risk and increase the payout.
Some Alternatives to Each-Way Bets
While an each-way bet offers a balance between risk & reward, there are other betting options to consider. In some scenarios, they might be better for you.
- Outright winner. Bet on a win without any insurance for placing: better returns but a bigger risk.
- Place-Only Bet. Betting solely on a selection finishing in the top positions, without the win part. Doesn’t require a double wager, but it won’t offer the mega payout in case of a win.
- Forecast and Tricast Bets. Predict the exact finishing order of the top two (forecast) or three (tricast) selections. Higher returns but difficult to get right.
- Accumulators. Combine multiple bets across different events into one wager. Yet again, great payouts but very difficult to get right.
Our recommendation is to choose the option that you’re most confident in and bet a sum that you won’t stress too much about if you do lose.