How Each Way Betting Works: In-Depth Guide to Each Way Betting Online
When you’re betting, there is always an element of risk involved. Not all of your bets will work out for you in the end. However, there is a strategy that can minimise the risk of your bets: each way betting.
Betting each way essentially means you are placing two separate bets on a result, a win bet and place bet, in order to break even or minimise potential losses. In this review, we are going to go in depth into what each way betting is, and how to use it to your advantage. Let’s get stuck right in!
- What is Each Way Betting?
- How Do You Make an Each Way Bet?
- The Subtypes Of Each Way Betting Explained
- The Best Tips to Use for Your Each Way Bet Strategy
- What Sports Can You Bet Each Way On?
- Disadvantages of Each Way Betting
- Each Way Betting Can Be Valuable When Done Right
- Each Way Betting Guide FAQ
What is Each Way Betting?
Each way betting is a form of hedge betting where you’re betting on two different options in order to create potentially successful bets and minimise your losses. The most common form of each way bet is placing an initial win.
It’s a strategy that is most effectively used in horse racing, as you have multiple options to wager on, and you can bet on a horse to win, as well as placing in a particular position in the race. The best betting sites for horse racing provide plenty of opportunities to bet on each way betting markets.
The win conditions vary for both of your each way bets, however. If your horse wins, your win selection and your place selection pays out. However, if your horse only places, only your place selection will go through.
How Do You Make an Each Way Bet?
Placing an each way bet is far simpler than it seems. All you need is a sportsbook, a decent chunk of money in your betting wallet and a race to wager on. We’ll be using horseracing mostly in this each way betting guide, as it is the simplest sport to place each way bets on.
There are a couple things you’ll have to take into account while making your each way bet:
- Odds and Each Way Fractions – The each way betting odds are a huge factor in determining if your stake is worth an each way bet. The odds for your win bet will dictate the odds for your place bet. In other words, the odds of your place bet will be a fraction of the win bet because your selection has a greater chance of placing than it does of winning. For example, if the odds for a horse called Hoof Hearted to win are 3.5, the place bet might be 1.7.
- Each Way Places – This determines the position your horse must finish in, in order for it to be considered a ‘place’. Many online betting sites will only place horses that finish in the top five, so your horse must finish fifth or above in order for the place bet to go through.
Once you fully understand these factors, you’re ready to start. Just click the horse you want to back, and in your bet slip, click the option for each way bets. Most sportsbooks will automatically have a set list of positions your horse must place in. Then all you have to do is place your wager and your stake will also automatically be designated to both the win and the place bet of your wager.
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The Subtypes Of Each Way Betting Explained
Now that you know the basics of an each way bet, you should know that there are multiple different types found in sports betting. Here’s all of the different types of each way betting explained below.
This is where you make one selection and two bets; this means you place a winning bet and a place bet. For example, you could place a bet on a horse called Red Judge to win at odds of 3.5, but you can also place a bet on that horse to place third at odds of 3/1.
A double each way bet is when you place two bets in two different events. So, a double each way would be the bet illustrated above, as well as another each way bet on a separate horse race.
A treble each way bet is two bets involving three different selections in different events. So, you have a wager on three different horses to win three different races, but also on those three different horses to place in each of the three consecutive bets. Both conditions in all three races must be met to turn the wager over.
An each way accumulator is essentially each way bets placed on four or more events. In this case, if one win and one placement goes through, it can be reinvested into your next each way bet in the accumulator.
This is 52 different each way bets that are put together in a certain order.
- 10 win doubles
- 10 place doubles
- 10 win trebles
- 10 place trebles
- 5 win four-fold accumulators
- 5 place four-fold accumulators
- 1 win five-fold accumulator
- 1 place five-fold accumulator
All of these bets are separate and placed on separate games, but are counted as one large accumulator bet. At least two of your each way bets need to go through in order to turn them over.
The Best Tips to Use for Your Each Way Bet Strategy
When it comes to any kind of specialty bet, it helps to have a strategy – a point we discussed in our guide to futures betting, for example. The same goes for each way bets, since there is automatically another wager at play, which makes the bet a little more complicated. In this section of our each way betting guide, we offer a couple of our tips on how you can finetune your strategy to make the most of your each way bets.
1. Choose Your Races Wisely
The nature of betting each way is that it requires plenty of competition to be thrown in in order to turn over a profit. We’d recommend in this that you choose races with eight horses–no more, no less.
You can go for bigger races that feature sixteen horses, but naturally there will be more competition in play, which means less of a chance that the horses you’ve wagered on will place and win. With eight horses, you narrow yourself down enough to give yourself a good chance to pick a horse or two that will place or win, but still have enough competition to make the bet worth it.
2. Keep an Eye Out for Changing Odds
The nature of betting means odds will always be shifting and changing, especially in the volatile world of horse racing. Try not to place bets too early before a race, as you can find odds will go down and shift soon before a race.
Try to catch the odds around an hour or half hour before a race, as it will help you get an accurate idea of what you could turn over. With the likes of golf and Formula 1, it’s alright to bet a little earlier. These competitions aren’t as frequent, so the odds won’t change dramatically until you’re deep in the season.
What Sports Can You Bet Each Way On?
With the nature of how each way betting works, not all sports will have this betting type available to them. However, some sports you may not expect may still have a limited type of each way bets available to them. We illustrate this in full in our chart below.
| Each Way Betting | Horse Racing | Football | Soccer | Golf | Formula 1 |
|---|---|---|---|---|---|
| Single Games/Races | ✅ | ❌ | ❌ | ✅ | ✅ |
| Tournaments | ✅ | ✅ | ✅ | ✅ | ✅ |
| Multiple Each Way Bets | ✅ | ❌ | ❌ | ✅ | ❌ |
| Competitive Odds | ✅ | ❌ | ✅ | ❌ | ✅ |
Each way betting on games like Golf and Formula 1 can work quite easily, as there are more than two competitors involved in these sports, so you can bet wins and places on multiple options.
For sports that only have two competitors, such as football and soccer, you can’t each way bet on single games, as there are only two results: winning and losing. So, to each way bet on those sports, you need to bet on leagues and tournaments, as you can place bets on where they will finish in those leagues and tournaments.
Disadvantages of Each Way Betting
Each way betting explained on paper seems like a good way to potentially double your winnings. All you need to do is back a horse that’s likely to win, and hope it places at least in the top five. However, there are drawbacks to placing bets that we feel are important to highlight.
1. May Not Be Worth It If Only the Place Wins
Firstly, an each way bet odds may not be worth it if your bet only places. While this does depend on the sportsbook you are using, sometimes the place bet may be less than the initial stake. If you were to bet £/$5 on a horse to win at odds of 4.0, you would lose £5 if your stake only places, so that’s important to consider before you proceed.
2. Twice the Wager, Twice the Risk
The other thing you have to consider is you are essentially doubling your stake. An each way bet is essentially two separate bets in one, which means you will be wagering twice as much as you normally would on a regular bet. This may not be a huge deal if your betting balance is healthy, but many bettors may not be able to afford regular each way bets. If you factor in the place odds not being so valuable, this can be a serious deterrent for many bettors.
Both of these factors combined mean if you regularly lose an each way bet, your losses will mount far more significantly than if you were placing regular bets. That’s why we would not recommend betting each way carelessly, and taking your time to do the research before you place your each way bets. It can be a valuable betting strategy, but it is also a highly risky one.
Each Way Betting Can Be Valuable When Done Right
As we have discovered in this each way betting guide, betting each way can be a tough investment to make. However, you should always try to make every bet you can a winner, and betting each way can be a great way to do that, if you approach it right.
A huge factor in starting to bet each way is choosing which sport to try with. Horseracing is the most common sport to each way bet on and the most valuable. However, you can also bet each way on sports like football, soccer, Formula 1 and golf but on larger tournaments. It’s all about the strategy you use with your each way bets as to how you get on with it.
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Each Way Betting Guide FAQ
❓ How does an each way bet work
An each way bet is essentially two bets on one selection. One bet is on the horse to win, the other bet is on the horse to place. You can do this across multiple races and horses.
💰 How much is £5 on an each way?
While you’re only selecting one horse, you’re making two wagers, which comes to an overall bet of £10.
🤑 Can you win on an each way bet?
It is possible to have a win on an each way bet, if you have the right strategy in place. This depends on if the odds are favourable, and if the market you are placing the wager on is valuable.
⚽ How do each way bets work in soccer?
Because there are only two competitors in soccer, you cannot place an each way bet on a single game. It is possible to place the bet on a league or tournament, however.
🏇 Do I get the same profit if my horses place?
In most cases, you won’t, as the odds are normally higher on the original wager (the horse winning). It is still possible to turn over a profit, however.
