Each Way Bets Explained Places Payouts Examples
Introduction
Each-way betting is a popular wagering method used in horse racing and other sports, such as golf, greyhound racing, and soccer. This bet combines a win bet and an each-way bet, with one stake giving punters two chances to win. To understand it, we need to look at the components separately.
A win bet means betting that the selection will win the event. If it finishes first, then the bet will pay out according to the listed odds.
An each-way bet gives two chances to collect a payout. This can be from the selection winning outright, or from it placing (coming second, third, or fourth, depending on the event). Each-way bets are more expensive, with half of the stake going to the win and the other half to the place. But, the payout can be much higher if the selection meets either criteria!
In this guide, we’ll explain how each way bets work, looking at different types of events, giving examples, and showing possible payouts depending on conditions.
What is an Each Way Bet?
An each way bet is a wager that gives you various options. It usually involves betting on a selection to either win or place in a race (1st, 2nd or 3rd). Punters love these bets as they offer a chance to make profits, even if the selection doesn’t win.
Let’s learn how they work!
Places
An each way bet is a kind of wager you can place on sports, horses and greyhounds. It gives you a chance to win if your selection places either first or second, third or fourth.
For horse racing, the place section of your bet will usually be settled at 1/4 the odds.
An each way bet has two parts:
- The Place Bet pays out if your selection is one of the top finishers in the race, as set by the bookmaker.
- The Win Bet pays out if your selection ends up first.
The payout of an each way bet depends on the amount staked, how many runners are in the race, and which finishing positions qualify for a payout by your chosen bookmaker. You can figure out potential payouts by calculating these factors, plus subtracting deductions from winnings (usually one fifth).
Payouts
An Each Way bet’s payout depends on the amount of places given by the bookies. This is called the “Each Way terms“. For example, 1/5 means you’ll get 1/5th of the win stake if your horse places. Higher terms, such as 1/4 or 1/2, mean more money for you if the horse places.
Sometimes there are ‘dead heats’ where two – or even three – horses cross the finish line in joint first position. NRNB (Non-runner no-bet) offers stop you from losing out if your chosen horse can’t start.
Examples of Each Way Bets
Each Way bets are a type of sports bet. You can get money back on two outcomes – win or place. Examples of this bet include horse racing, golf and football. Knowing the structure and payouts will help increase your return.
Let’s take a look at some examples of Each Way bets:
Horse Racing
A Place Each Way bet is a type of bet on horse racing. It pays out if the horse you chose comes first, second, third or fourth. You will have to place twice the stake to make the full bet. The ‘win’ part of the bet goes on the nose, meaning you have to pick a winning horse. The ‘place’ part of the bet will win if it comes in first, second, third or fourth.
Not all meetings pay out on an each way basis. There are some which pay out on a ‘first three’ basis – only those horses finishing first, second and third receive a payout. Bigger meetings offer more than four places. For example, 4/5 places or 5/6 places. This refers to how many places are eligible for payout and how much you will be paid for it.
An example: if you had £10 each way on Red Rum in the 1973 Grand National at 30/1, it would cost you £20. However, this particular example only had 5 places, so Red Rum came second and you won £50 for the runner up position, plus £30 if you had backed him to win.
Football
Football betting is the most popular sport. An each way bet is two bets in one – a ‘win’ and a ‘place’. For football, bookmakers may offer three places (1st, 2nd, or 3rd). Your stake will be split, with half going on the win and the other half on the place. For example, if you put £10 as an each way bet, the total spent is £20. It is important to check the bookies’ rules for how many places are paid out.
If there are three places and you make an each way wager, if it finishes first your entire stake will be paid out at 1/4 of the odds given by bookmaker. If it finishes 2nd or 3rd, half the stake will win at 1/2 of the odds given.
For example, if you put £20 each way at 4/1, if it finished first you get back 80 (profit of 80) plus your original stake of 20, for a total of 100. If it finishes 2nd or 3rd you get back 40 (profit of 40) plus your original stake of 20, for a total of 60.
Golf
Golf offers lots of ways to bet. The most basic is predicting a final placement in the tournament. Usually, places are paid out in fractions of the total pool. For example, if you bet £10 and your golfer placed 5th in a tournament with 4 places paying 1/5, then you’d get £3 profit (1/5 of £20).
Remember to check which places are paid before you bet – this can differ from one tournament to the next. Events with big fields often offer extra places. This adds value when betting on multiple selections in one event. The perfect each-way bet is when your picks end up within the placings, at prices that weren’t expected before the start.
Advantages and Disadvantages of Each Way Bets
Each way betting is great for those seeking extra insurance on bets. It’s like two separate wagers; one for the horse to win and one to place. It’s popular with bookmakers worldwide, particularly for racing.
Advantages:
- If your selected runner doesn’t win, you have a second chance of making a return.
- You can spread the risk across more than one runner with an accumulator bet.
- Placed horses offer better payouts and bigger returns than win only bets.
Disadvantages:
- You pay double for half of your money being placed for a win, and no guarantee of success.
- You may pay out more and make a marginal increase in return.
- Each way decisions should be carefully considered, as it can be expensive if your selection doesn’t place or win.
Conclusion
So, summing it up, each way betting can be a money-maker for folks who comprehend how it functions and what type of bets can be placed. It’s a logical way to spend your cash and get the most out of it. By grasping what you bet on, how the bet pays off, and studying past race forms, you can make wise decisions when putting an each way bet. In the end, it’s up to you, the punter, to investigate the race and choose a bet that gives you the best odds of success.
Frequently Asked Questions
Q: What is an Each Way Bet?
A: An Each Way Bet is a type of wager in which a stake is placed on two outcomes of a particular event. An Each Way Bet consists of two separate bets, with half the stake placed on the selection to win and the other half placed on the selection to be placed.
Q: What is a Place?
A: A Place is the term used to describe a selection (horse, greyhound, etc.) that has finished the race in one of the positions that pays out. The amount of Places available and the corresponding Payout rate will vary depending on the type of event and bookmaker.
Q: How do Payouts Work for Each Way Bets?
A: The Payout for an Each Way Bet is typically a fraction of the Win Odds. The amount of Payout will depend on the number of Places available for the event and the bookmaker’s terms. For example, if the Win Odds are 7/1 and the number of Places is 3, the Each Way Payout will usually be 1/3 of the Win Odds (i.e. 1/3 of 7/1 = 7/3).
