Betting on horse racing can be an exciting part of the sport. One type of bet that is popular amongst punters is an each-way bet. But what does each-way on a horse mean?
An each-way bet is a bet that splits the stake into two separate bets: a win bet and a place bet. The win bet will payout if the horse finishes first, while the place bet will payout if the horse finishes in the top three, four or five, depending on the size of the field.
How Does an Each-Way Bet Work?
In an each-way bet, the stake is split into two equal parts. The first part of the stake is for the win bet, and the second part of the stake is for the place bet. If the horse wins, then the bettor will receive the win dividend and the place dividend. If the horse does not win but finishes in the money, then the bettor will only receive the place dividend.
How is the Dividend Calculated?
The dividend for an each-way bet is calculated differently for win and place bets. The win dividend is calculated by taking the total pool of money divided by the number of winning tickets. For example, if there are five winning tickets, then the win dividend will be the total pool divided by five.
The place dividend is calculated by taking the total pool of money divided by the number of placed tickets. For example, if there are three placed tickets, then the place dividend will be the total pool divided by three.
What Are the Different Types of Each-Way Bets?
There are several different types of each-way bets that can be placed. The most common types are:
- Win/Place: This is the most basic type of each-way bet, where the bettor is betting on the horse to win or place in the race.
- Win/Place/Show: This type of bet is similar to the win/place bet, but it also pays out if the horse finishes in the top four (or five, depending on the size of the field).
- Quinella: This type of bet is where the bettor is betting on two horses to finish first and second in any order.
- Exacta: This type of bet is where the bettor is betting on two horses to finish first and second in the exact order.
- Trifecta: This type of bet is where the bettor is betting on three horses to finish first, second and third in the exact order.
- Superfecta: This type of bet is where the bettor is betting on four horses to finish first, second, third and fourth in the exact order.
What Are the Benefits of an Each-Way Bet?
An each-way bet can be beneficial to punters in several ways. The main benefit is that it offers more chances of success. If a bettor places an each-way bet, they are essentially placing two bets. This means that they have twice the chance of winning than if they had placed a single win bet.
Another benefit of an each-way bet is that it provides more value for money. If a horse finishes in the money, the bettor will receive a payout for both the win and place bets. This can result in a higher return than if the bettor had placed a single win bet.
Finally, an each-way bet can reduce the risk of making a bad bet. If the bettor is unsure of the horse they are betting on, they can spread their risk by placing an each-way bet. This way, they are increasing their chances of making a return, even if their chosen horse does not win.
What Are the Drawbacks of an Each-Way Bet?
Although there are many benefits to placing an each-way bet, there are also some drawbacks. The main drawback is that the payout is usually lower than if the bettor had placed a single win bet. This is because the win and place dividends are calculated separately, and the bettor will only receive a dividend for one of the two bets.
Another drawback is that the bettor may not receive a dividend for either the win or place bet, if the horse does not finish in the money. This means that the bettor may not receive any return on their stake, which can be a costly mistake.
Finally, an each-way bet can be more expensive than a single win bet, as the stake is split into two parts. This means that the bettor must be willing to pay more for the increased chances of success.
Tips for Placing an Each-Way Bet
When placing an each-way bet, it is important to remember a few tips. The first tip is to only bet on horses that have a good chance of finishing in the money. This means looking at the form of the horses and researching their past performances.
The second tip is to make sure that the place dividend is worth the extra cost of the each-way bet. It is important to compare the place dividend to the win dividend, to make sure that the bet is worth the extra cost.
The third tip is to make sure to check the terms of the each-way bet. It is important to check the number of runners in the race, as this will determine the number of places that will pay out. It is also important to check the rules for non-runners, as this can affect the return on the bet.
Finally, it is important to remember that an each-way bet is not a guaranteed bet. Even if the bettor has done their research and chosen a horse with good form, there is still a chance that the horse may not finish in the money.
Conclusion
An each-way bet is a popular type of bet amongst punters. It is a bet that splits the stake into two separate bets: a win bet and a place bet. The win bet will payout if the horse finishes first, while the place bet will payout if the horse finishes in the top three, four or five, depending on the size of the field.
There are many benefits to an each-way bet, such as increased chances of success and more value for money. However, there are also some drawbacks, such as lower payouts and higher costs. When placing an each-way bet, it is important to remember to do research on the horses and to check the terms of the bet.
Overall, an each-way bet can be a great way to increase the chances of making a return on a bet. However, it is important to remember that it is not a guaranteed bet and there is still a chance that the bettor may not receive a return.