Horse racing is an exciting and thrilling sport, with a range of bets available to suit all levels of experience. One of the most popular bets is the each-way bet, which offers punters the chance to win a return even if their horse doesn’t come first. But what does each-way mean in horse racing and how does it work? This article will answer these questions and explain the benefits of placing an each-way bet.
What is an Each-Way Bet?
An each-way bet is a combination of two separate bets, a win bet and a place bet. With a win bet, the punter is betting on the horse to win the race, while with a place bet the punter is betting on the horse to finish in the top three, four or five (depending on the size of the field). When a punter places an each-way bet, they are essentially placing both these bets at the same time.
The Benefits of an Each-Way Bet
There are several benefits to placing an each-way bet, making it a popular choice for many punters. The first benefit is that you are essentially doubling your chances of winning. Even if your horse doesn’t win the race, it may still place, giving you a return. Secondly, an each-way bet can be a great way to increase your potential winnings. As you are essentially placing two bets at once, if your horse does win, you will receive the winnings of both bets combined.
Types of Each-Way Bet
There are two types of each-way bet, the single and the double. With a single each-way bet, the punter is betting on one horse only, while with a double each-way bet, the punter is betting on two horses. The double each-way bet can be particularly lucrative, as if both horses place, the punter will receive both place bet winnings.
How are Each-Way Bet Winnings Calculated?
When placing an each-way bet, the punter must decide how much they want to stake. Generally, the stake for the place bet is half the stake for the win bet, so if the punter stakes £10, £5 will be for the win bet and £5 will be for the place bet.
If the horse wins the race, the winnings are calculated according to the odds of the bet. For example, if the odds are 4/1, the punter will receive four times their stake, plus their stake back, giving a total return of £50 (£10 stake multiplied by 4 plus the original £10 stake).
If the horse places in the top three, four or five (depending on the size of the field), the place bet winnings are calculated according to the place terms. Generally, the winnings for a place bet are a quarter of the win bet odds, so if the win odds are 4/1, the place odds would be 1/1. The punter would then receive their £5 stake back plus a quarter of the win bet winnings, giving a total return of £25 (£5 stake plus £20 winnings).
How to Calculate Each-Way Bet Returns
When calculating the total return of an each-way bet, it is important to take the win and place bet winnings into account. As we have seen, these can be calculated separately, so the total return can be calculated simply by adding the win bet winnings to the place bet winnings.
For example, if the punter has placed a £10 each-way bet at odds of 4/1 and the horse wins the race, the win bet winnings will be £50 (£10 stake multiplied by 4 plus the original £10 stake). The place bet winnings will be £25 (£5 stake plus £20 winnings). The total return for the bet will therefore be £75 (£50 win bet winnings plus £25 place bet winnings).
Each-Way Betting Tips
When placing an each-way bet, there are a few tips to bear in mind. Firstly, it is important to choose the right race and the right horse. Look for races with a large field and horses with good form and good odds. Secondly, it is important to check the place terms before placing a bet. Generally, the place terms will be a quarter of the win odds, but this can vary depending on the size of the field. Finally, it is important to calculate the total return of the bet before placing it. This will help ensure that you are getting the best value for your money.
An each-way bet can be a great way to increase your chances of winning and your potential winnings. By placing a combination of a win bet and a place bet, you are essentially doubling your chances of a return. However, it is important to bear in mind the tips outlined above when placing an each-way bet, in order to maximise your chances of success.