Welcome to our expansive coverage of the each way bet. One of the most popular forms of bet made on betting sites in the world today. It is especially useful when having a bet on a horse race and you are looking for more flexibility with your bet than backing your chosen horse to win outright.
However, there are more options when betting each way than simply a bet on horse racing. You can bet each way on several different sports and across several betting markets too. An each way bet is a pretty flexible option and it is a great betting strategy for punters to have at their disposal when backing the selection to win may be a little too risky.
In our guide to each way betting, we will take you through the finer details of the each way bet, explain what it is, why your selection doesn’t have to win the race to earn a payout and we’ll look at an example of how an each way bet pays out, based on the different permutations possible with the bet.
We’ll also look at some of the advantages and disadvantages of this type of bet as well as answering some frequently asked questions about each way bets.
Speaking of which, let’s begin by answering the obvious question about this popular bet.
How Does Each Way Betting Work?
When you first make an each way bet, even if you are using a standard unit stake, how the pay-out is worked out on your bet slip can seem confusing. And then, why does a £10 each way bet, cost £20?
The reason for that confusion is due to the bet type. Although it is referred to as a singular term – as an each way bet by betting sites – the bet itself actually comprises two separate bets.
The first part of the bet covers the win bet and the second covers the place part of the bet.
As these are two bets, you therefore need to unit stakes to cover both potential outcomes. So, a £10 each way bet actually means you want to place £10 on each of the two separate parts of the bet. £10 on the win part and £10 on the place. Hence a £10 each way bet costs £20. You can see an example of this in Figure 1 below.
Fig. 1 – An Example of a £10 Each Way Bet on the Grand National Horse Race
£10 Each Way on Meetingofthewaters at 16/1 (17.00) to win the Grand National.
- £10 to cover Meetingofthewaters to win the race
- £10 to cover Meetingofthewaters to place in the race (A runner will win the place part of the bet if they finish in the top four finishers of the race and they are paid out, in this example, at ¼ of the odds taken for the win part of the bet)
Total Bet cost – £20.
Another thing to note is that there are many forms of each way bet, from those you make on a horse race, to those you can place on a goalscorer in a football game or backing a player to finish in the paying places when golf betting.
Additionally, while on different sports and markets, these bets all share the same structure of two bets, one covering the win part of the bet, the other 50% portion of the stake goes on the place part of the bet.
How Much Will I Get Back if my Each Way Bet Wins Compared to if it is only Placed?
One thing to note here is that as you have placed two separate bets as part of your each way bet, that means that either both, one or none of the two bets can pay out. The only thing that cannot happen with an each way bet, is for the win bet to pay out and the place bet not to.
Logically, that is because if a selection wins a horse race, then they are placed and so win that bet too!
So, here’s the three potential kinds of returns you can land with an each way bet.
- If your selection does not win and is not placed – No return. Your bet is a loser.
- If your selection does not win and is placed – No return for the win part of the bet, but the place part of the bet pays out at the place odds stated.
- If your selection wins – Both the win part and place parts of the bet pay out as winners.
So, you can see, for the maximum pay out for an each way bet, you still need your selection to win.
But how much does this actually equate to in cold hard cash? Let’s recap our theoretical Each Way Grand National bet from Figure 1 and then we’ll go through the different payouts you could get from this bet.
Fig. 2 – An Example of a £10 Each Way Bet on the Grand National Horse Race with Winnings
£10 Each Way on Meetingofthewaters at 16/1 (17.00) to win the Grand National.
- £10 to cover Meetingofthewaters to win the race (at odds of 16/1)
- £10 to cover Meetingofthewaters to place in the race (A runner will win the place part of the bet if they finish in the top four finishers of the race and they are paid out, in this example, at ¼ of the odds taken for the win part of the bet of 16/1 – This means effective place odds of 4/1 for this bet)
Total Bet cost – £20.
Potential Race Outcomes & Winnings at the stated odds & ¼ the odds for the place bet
- If the selection does not win and is not placed – £0 return (£20 loss)
- If the selection does not win, but is placed either 2nd, 3rd or 4th – The win bet loses (-£10) but the Place Bet wins at ¼ of the stated odds of 16/1. That equates to odds for the place of 4/1. Therefore, the place bet would see you win £40 plus your £10 stake back for a total return of £50 (£40 profit).
- If the selection wins the race – Both Win and Place bets win. We know the place bet sees you earn a total return of £50, and the win bet is £10 x 16 (16/1) = £160, plus you get your £10 Win Stake back for a return of £170 for the win part of the bet. Therefore, in this scenario, you would win £220 in total of which £200 would be profit.
As you can see, with potential payouts of £0, £50 or £220, this is a potentially lucrative each way bet even if the horse was to just place. This is why many people prefer to back longer odds options for their each way bets.
Essentially, once you understand this, the mysteries of each way bet explained!
But don’t click away from the betting guide to each way bets just yet, as there’s a little more to learn about the variety of each way bets you can make, especially on sports other than those made on a horse race.
On Which Sports and Bet Types are Suitable Each Way Betting?
Using an each way bet on a horse race has been popular for many years and for many people who only bet on a horse once a year, it is their preferred form of bet for races such as the Grand National.
However, there are many other sports and markets on which Each Way Betting is popularly used. Some of the most popular are as follows:
- Football – Each Way First Goalscorer bets are available with some sites such as bet365 Sport. You can also bet each way on the outright winner for a football tournament (such as the Premier League or Euro 2024 Championships) and the place bet will pay out if your selection finishes in the top 2 or reaches the final of the tournament.
- Tennis – You can back a player to win a tournament outright each way which will offer you a payout if they reach the final.
- Golf – Given the high number of golfers competing in a tournament, you can often get each way bets on the outright winner of the tournament paid out to 5, 6, 7 or even 8 places on some tournaments.
- Motor Racing – Each way for bets on the outright race winner, with places paid for a driver that finishes in the top three.
There are many other sports, notably race-based sports, as well as specific markets such as betting on a team or individual to win a tournament, that offer a fantastic range of esports betting.
Why On One Horse Race Do Each Way Bets Pay Out the Top 2, but in Others it is the Top 3 or Top 4?
The number of places paid out on a horse race and what the fraction of the odds for the place part of the bet will be determined by the number of runners in a race and the type of race that it is.
These rules are uniform across the horse racing industry, although for some special events and races, bookmakers may choose to extend the number of places paid or offer a better proportion of the odds for each way place payouts.
These rules are as follows:
All Races (Non-Handicap & Handicap)
- Races with four runners or fewer – bookmakers will not likely offer each way betting.
Non-Handicap Races
- 5 to 7 Runners – ¼ of the win odds for 1st and 2nd places.
- 8+ runners – 1/5 of the win odds for 1st, 2nd and 3rd places.
Handicap Races
- 5 to 7 Runners – ¼ of the win odds for 1st and 2nd places.
- 8 to 11 runners – 1/5 of the win odds for 1st, 2nd and 3rd places.
- 12 to 15 runners – ¼ of the win odds on 1st, 2nd and 3rd places
- 16 or more runners – ¼ of the win odds on 1st, 2nd, 3rd and 4th places.
This information is displayed for each horse race, and it is known as the each way terms. It is often demarcated as Race Date/Time – E/W 1/5. 1-2-3.
This shows you the race date and time, as well as that this race is paying out each way places at 1/5 of the win odds and will do that on horses finishing 1st, 2nd, and 3rd.
Remember, all this applies only to the place part of your bet. The win part of your each way bet is still calculated on the full value starting odds.
What Are Some of The Best Value Each Way Betting Markets Punters Can Bet On?
The best each way bets are those that offer you a realistic chance of landing a longer odds selection in one of the places, or even as a winner.
There are generally only a few markets that offer this kind of bet on a regular basis, and these are as follows: –
- Golf Tournament Outright Winner betting
- Horse Racing Betting with 16 or more runners (the Grand National at Aintree is a great example of this) but there are usually many races each week of the year that offer racing with a good field of runners, some of whom will be longer odds.
- Outright Winner betting on competitive Football Leagues and Competitions (such as the Championship, League One and League Two in England, where one of any number of teams could challenge at the top of the table).
What are the Advantages of Each Way Betting in Racing?
The biggest advantage of each way betting is that your selection doesn’t rely on your horse winning. Instead, if your horse finishes in the place, they will generate you a return.
Are There any Disadvantages of Each Way Betting?
Not really. Some people may point out that to earn a decent return, you need the win part of your bet and place part of the bet to both win in order to secure a good return, but the flip side of that is that you will at least get something in return if the win bet doesn’t land, but the place part of your bet does come in.
The only real issue for punters is that the total bet cost because you are placing two bets, means it will cost 2 x the unit stake. However, you can combat this by reducing your unit stake by half. So instead of placing a £10 win bet, you could instead place an each way bet of £5 (2 x £5 = £10) and still risk the same amount.
Just remember that a £10 bet on a horse to win returns £10 x the current odds, whereas a £5 each way bet returns £5 x the betting odds for the win, plus £5 x the place odds on the two bets. So you won’t win as much even if you land the win and place bet with your each way bet.
This is why knowing which the right bet type is to place for your selection is key. Sometimes a win bet may be a better option, but an each way type of bet always offers greater flexibility.
Frequently asked questions
Why Can’t I Use A Free Bet for an Each Way Bet?
If your bookmaking site will only allow single bets, or accumulators, with their free bet offers. This means that you cannot use a free bet to make an each way bet.
The reason for this is simply that an each way bet requires 2x the unit stake. So if you had a £10 free bet, most betting sites stipulate their free bet offers must be used as a single stake. As an Each Way bet has two stakes, it cannot be used for free bets.
Is There an Each Way Bet Calculator I can use to Calculate my Potential Returns?
Yes, many of the best betting sites will display the potential payouts for any each way bet you wish to make on the bet slip, so you do not need to access a separate calculator.
However, if you would prefer to use a calculator, there are many betting calculators available that will show you what the total cost will be when you place the bet as well as the different returns you could win for the win part of the bet and the amount you’d win for the place bet too.
Can I use Each Way Bets if I want to try Matched Betting?
No. Matched Betting relies on using bookmakers’ welcome offers alongside your deposited cash to guarantee yourself a profit by covering all possible outcomes in an event.
As such, if you are using bookmakers’ free bets, they usually stipulate that these must be single bets, or accumulator bets only, and as such you cannot engage in matched betting by using each way bets.
Can I place each way bets on a betting exchange?
Yes, you can place each way bets on betting exchanges as well as with standard betting sites. Sometimes you can find better odds on an each way bet on a horse, or football tournament with a betting exchange. But that is not always the case as the best each way betting sites will offer fantastic value for punters anyway when they bet each way.
Hopefully now you know all you will ever need to know about this popular form of betting, and you can now go and place an each way bet knowing exactly what it will cost, how it will pay out and how much you could win if your selection is placed, or better still, a winner!
