When it comes to betting on horses, “each-way” is a popular option for many punters. This type of wager is a combination of two separate bets on a single horse, and it can be a great way to increase your chances of making a profit. But what exactly does each-way mean on horses?
In this article, we’ll look at what each-way betting is and how it works, including the different types of each-way bets available, the advantages and disadvantages of each-way betting, and how to calculate potential winnings.
What is Each-Way Betting?
Each-way betting is a type of wager on a single horse that combines two separate bets into one. The first part of the wager is a win bet, which pays out if the horse finishes first or second, and the second is a place bet, which pays out if the horse finishes in the top three, four, five, or six, depending on the number of runners in the race.
The win portion of the wager is usually placed at the same odds as if it were a single win bet, while the place portion is usually placed at a fraction of the odds of the win bet. This means that even if the horse does not win the race, you could still make a profit if it finishes in the top few places.
Types of Each-Way Bets
There are two main types of each-way bets:
- Full Each-Way Bet: This is a bet on a single horse where both the win and place portions are placed at the same odds. This is the most common type of each-way bet, and is often used for favourites in a race.
- Partial Each-Way Bet: This is a bet on a single horse where the win portion is placed at the same odds, but the place portion is placed at a fraction of the win odds. This type of bet is often used when betting on an outsider.
Advantages and Disadvantages of Each-Way Betting
Like any other type of wager, there are both advantages and disadvantages to placing an each-way bet.
- Advantages: The main advantage of each-way betting is that it increases your chances of making a profit. Even if the horse does not win the race, you still have a chance of making a return if it finishes in the top few places. Additionally, each-way bets are often better value than win-only bets.
- Disadvantages: The main disadvantage of each-way betting is that the returns are usually much lower than with a win-only bet. Additionally, if the horse does not finish in the top few places, then you will not make a profit and you will lose your stake.
How to Calculate Each-Way Winnings
When you place an each-way bet, you are essentially placing two separate bets on the same horse. The win portion of the bet pays out if the horse finishes first or second, while the place portion pays out if the horse finishes in the top three, four, five, or six, depending on the number of runners in the race.
To calculate your potential winnings, you need to first multiply the odds of the win portion by your stake. This will give you the potential winnings for the win portion of the bet. Then, multiply the odds of the place portion by your stake to calculate the potential winnings for the place portion of the bet.
For example, if you placed a £10 each-way bet on a horse at odds of 4/1 for the win portion and 2/1 for the place portion, then your potential winnings would be:
- £40 for the win portion (4 x £10)
- £20 for the place portion (2 x £10)
The total potential winnings for your each-way bet would then be £60.
Each-Way Betting on Multiple Horses
It is possible to place an each-way bet on more than one horse in a race. This is called an each-way multiple bet. With this type of bet, you are essentially placing multiple each-way bets on different horses in the same race.
For example, if you placed a £10 each-way multiple bet on three horses, then your total stake would be £60 (£10 x 3 horses x 2 bets). Your potential winnings would then be calculated by multiplying the odds of each of the win and place portions by the stake.
Each-Way Accumulators
An each-way accumulator is a type of bet where you combine multiple each-way bets into one wager. With this type of bet, you are essentially placing multiple each-way bets on different horses in different races.
For example, if you placed a £10 each-way accumulator on three horses, then your total stake would be £90 (£10 x 3 horses x 3 races x 2 bets). Your potential winnings would then be calculated by multiplying the odds of each of the win and place portions by the stake.
Conclusion
Each-way betting is a popular type of wager for many punters, as it increases your chances of making a profit. This type of wager is a combination of two separate bets on a single horse, and it can be a great way to increase your chances of making a return.
When placing an each-way bet, you need to understand the different types of each-way bets available, the advantages and disadvantages of each-way betting, and how to calculate potential winnings. Additionally, it is possible to place an each-way bet on multiple horses in a race, or an each-way accumulator on multiple horses in different races.
By understanding each-way betting, you’ll be able to make more informed and profitable decisions when it comes to betting on horses.