Each-way betting is a popular form of wagering on horse racing. It is a two-part bet where the gambler bets on a horse to win and also to place in a race. An each-way bet is a combination of a win bet and a place bet, and it pays out if the horse finishes first, second, or third (depending on the number of runners in the race). The return on the bet is split between the win and the place.
Each-way betting is a great way to increase your chances of winning, as it increases the number of possible outcomes you can cash in on. It is also a great way to get more value out of a horse race, as the odds for a place bet are usually much better than those for a win bet.
How Does Each Way Betting Work?
When you place an each-way bet, you are essentially placing two separate bets on the same horse. The first bet is for the horse to win the race. The second bet is for the horse to place in the race (finish in the top three, depending on the number of runners in the race).
If your horse wins the race, you will win both bets. If your horse places in the race (finishes in the top three), you will win the place bet but not the win bet.
How Are Each Way Bets Calculated?
The amount you win from an each-way bet is calculated by multiplying the odds of the horse winning by the amount of the bet. This is then divided by two and added to the amount of the bet.
For example, if you bet £2 each way at odds of 10/1, your total return would be calculated as follows:
- £2 x 10 = £20
- £20 ÷ 2 = £10
- £10 + £2 = £12
So, if your horse won the race, you would receive a return of £12. If your horse placed (finished in the top three), you would receive a return of £10.
What Are The Benefits Of Each Way Betting?
Each-way betting has a number of benefits. These include:
- Increased chance of winning: By betting on a horse to both win and place, you increase your chances of winning. Depending on the odds and the field size, you could have a better chance of winning by betting each way than by betting on the horse to win outright.
- More value for money: Place bets usually have better odds than win bets, so by betting each way you can get more value for your money.
- Less risk: By betting each way, you are spreading your risk across two bets. This reduces the risk of losing your entire stake if your horse does not win the race.
What Are The Drawbacks Of Each Way Betting?
Although there are many benefits to each-way betting, there are also some drawbacks. These include:
- Higher stake: Each-way bets require a higher stake than win bets, as you are placing two bets instead of one.
- Less chance of winning: Although you have a higher chance of winning with each-way betting, the amount you can win is usually lower than with a win bet.
- Complexity: Each-way betting can be more complex than win betting, as you need to understand the odds for both win and place bets. This can make it more difficult for new punters to get to grips with.
What Are The Different Types Of Each Way Bet?
There are several different types of each-way bets. These include:
Standard Each Way Bet
A standard each-way bet is a bet on a horse to win and place in a race. The bet pays out if the horse wins or places in the race.
Enhanced Each Way Bet
An enhanced each-way bet is a bet on a horse to win and place in a race. The bet pays out if the horse wins or places in the race, with additional winnings if the horse places in certain positions.
Double Each Way Bet
A double each-way bet is a bet on two horses, both to win and place in their respective races. The bet pays out if both horses win or place in their respective races.
Lucky 15 Bet
A Lucky 15 bet is a bet on four horses, each to win and place in their respective races. The bet pays out if all four horses win or place in their respective races.
How To Place An Each Way Bet
Placing an each-way bet is very straightforward. All you need to do is visit your chosen bookmaker and select the horse you want to bet on. You then need to choose how much you want to stake and whether you want to place a win or an each-way bet.
Once you have made your selection, you will be asked to confirm your bet. Once you have done this, your bet is placed and you can sit back and watch the race.
Conclusion
Each-way betting is a great way to increase your chances of winning and get more value out of a horse race. It is a two-part bet that pays out if the horse finishes first, second, or third (depending on the field size). It is a great way to spread your risk across two bets and reduce the risk of losing your entire stake.
There are several different types of each-way bets, ranging from standard to enhanced and double bets. Placing an each-way bet is very straightforward and can be done quickly and easily at most bookmakers.