Each-way betting is one of the most popular betting options in some of the biggest sports including horse racing and football. If you’re unfamiliar with each-way odds and placing an each-way bet, this guide will explain how it works and the best scenarios to use each-way bets.
We’ll provide examples of each-way bets in horse racing and football markets and explain how each-way bets work when part of a multi-leg accumulator.
How Does an Each-Way Bet Work?
An each-way bet essentially covers two bets instead of one. It places one bet on a team, athlete or horse to win and another bet on them to place.
A successful win bet means your team, athlete or horse has won the match or race. A successful place bet means they have finished in the top two, three or four. Most place bets are paid out at a quarter or a fifth of your selection’s win odds.
It’s possible for both or one part of your each-way bet to win and it’s possible for both parts to lose too. If your selection goes on to finish second, you’ll be paid out on your place bet, but the stake towards the win bet is a loser. If your selection wins, you’ll be paid out on both bets. Similarly, if your horse fails to finish a race or finishes outside of the top places, both legs of your each-way bet lose.
What is an Example of an Each-Way Bet?
Let’s say that you plan to bet on the Aintree Grand National. You want to back Horse A each way. Its win odds are 15/1 and its place odds are 3/1.
If you place a £2 each-way bet, £1 will cover the win bet and £1 will cover the place bet. If Horse A wins the race, you’ll get £15 from the win bet and £3 from the place bet – £18 return from a £2 each-way bet.
If Horse A doesn’t win the race but they finish second, you’ll lose the win bet and win £3 from the place bet – £3 return from a £2 each-way bet.
What Does Each Way Mean in Horse Racing?
An each-way bet in a horse race means you’re covering a horse’s prospects of winning or placing in a race. This means you can get some money back from your bet even if the horse you back doesn’t win but goes on to finish in the top two, three, or four places.
Each-way means you’ll back a horse with a win bet and a place bet. It’s possible one or both bets win – or neither, of course!
Enhanced Places at the Big Races
In the biggest horse races at Cheltenham Festival, Royal Ascot and other headline races like the 1000 and 2000 Guineas, some bookmakers will enhance the number of places allowed for the place bets within an each-way wager. This usually happens in the races with the biggest fields.
In races with no more than four runners, place bets will not normally be offered. Races with up to seven runners will see place bets pay out on first and second at 1/4 odds. Races with 8 to 15 runners will often pay out on first-, second-, and third-place finishes at 1/5 odds. Races with 16 runners or more will pay out on the top four places at 1/5 odds, but those headline races may go to five places.
What Does Each-Way Betting Mean in Football?
Each-way betting is less common in football betting, as there are only two potential winners in an individual football match. The outright betting markets are where each-way bets come into their own in football betting.
At the start of a football season, you might choose to place bets on the winner of the English Premier League, League One or League Two for example. You might decide to bet on a slight outsider each-way. This is useful if you think a team will have a good season but might fall short of winning the title. These markets usually pay to two places, so you’ll win something if they finish at least runners-up.
Is Each-Way Betting Worth it?
There are certain scenarios in sports betting where each-way bets are worth it and others when it’s simply not a value play. Below, we’ll explain the best odds to consider each-way bets and when to steer clear of betting each-way.
When Each-Way Betting Makes Sense
You should consider each-way bets providing your selection’s win odds are greater than or equal to 4/1. This way, if your win bet loses, you’ll still have a chance to make up the loss on your win bet from the place bet winnings.
Each-way betting is also a good option if you are less than confident about your selection’s chances of winning a match or race outright. However, you may be confident they’ll be competitive at the very least. This makes them an ideal candidate for a place bet.
Some bookmakers choose not to offer dedicated place betting markets. In this case, each-way bets are the only option.
When to Avoid Each-Way Betting Markets
We’ve already said odds of 4/1 or greater are beneficial for each-way bets. Therefore, any win odds lower than 4/1 offer little to no value each-way. Let’s say you bet on a selection at 2/1 each way. The win odds are 2/1 and the place odds are just 6/10 – a fifth of the win odds.
If you bet £1 to win at 2/1 and £1 to place at 6/10 and your selection finishes second, you’ll only get £1.60 back from your initial £2 stake. If you place each-way bets regularly at win odds of 2/1, the chances are your losses will far outweigh your returns in the long term.
How Do I Use an Each-Way Betting Calculator?
If you’re curious about how much you can win from a potential each-way bet, you can always use our Each-Way Calculator to do all the hard work for you. Enter your win odds in fractional or decimal format, set the odds for place bets (usually 1/4 or 1/5 of win odds), enter your total stake, and click the ‘Recalculate’ button.
If you like the look of the potential winnings, you can always click to save the bet ready to place later in the day. You can also click on ‘Place Your Bet Now’ to log in and load the relevant betting market. You can even click on the ‘Use bonus funds’ box if you’d like to place your next each-way bet using your talkSPORT BET bonus balance.
How Does an Each-Way Bet Work on an Accumulator?
Now that we’ve explained what is an each-way bet, let’s look at accumulators. Each-way accumulators are seen as an option for bettors as it may be possible to secure a small return even if your selections don’t go on to win their races.
Let’s say you put on a five-horse each-way accumulator:
- Horse A – 5/1
- Horse B – 6/1
- Horse C – 9/2
- Horse D – 12/1
- Horse E – 25/1
If you put a £10 accumulator on this (£5 on the win bets and £5 on the place bets at £1 apiece) you’d stand to win a maximum of £392,113.20.
Let’s say Horses A to D go on to win their races but Horse E only manages to place. You’d still stand to win £1,723.20 from a £10 stake.
Of course, you could still lose everything if none of the horses wins or places.
How Will My Each-Way Bet Be Settled?
If you win both legs or one part of your each-way bet, your winnings will be settled in full at the end of the event. Even if you win both legs, you’ll be paid out immediately on both the win bet and the place bet, with no staggered payout times.
If you go on to lose both legs of your each-way bet, your stake is fully lost to the bookmaker.
Remember to always gamble responsibly. You can visit our Safer Gambling Portal for advice on how to keep your betting responsible.
