What Is Each-Way Betting? (EW)

What is each-way betting? Well, if you have ever visited the horse racing page of any major bookie, you have probably seen an option for each-way (EW) bets. In this article, we will explain each-way betting and how it works.

Best Sites We Recommend For Each-Way Betting

What is Each-Way Betting?

An each-way bet consists of two separate bets: a WIN bet and a PLACE bet. This means that you're placing a bet on a horse to win, and another on a horse to place. A win means that the horse finishes first, and place means that the horse finishes in the top two, three or four. Usually, the place bet is at 1/4 or 1/5 of the win odds.

Here is a short but concise summary of each-way betting:

Each-Way Betting Calculator

Each-way betting calculators help punters easily calculate their each-way bets and how much they stand to earn for each number of places they choose.  Feel free to use our free calculator below:

How To Use Our Each-Way Calculator

Check out our bet calculators page for lots of other useful tools to help you with your number-crunching.

Cheltenham Each-Way Betting Tips 2022

The 2022 Cheltenham Festival will take place from Tuesday March 15th till Friday, March 18th. Punters are already deciding which horses to back in what promises to be the most exciting week in UK horse racing this year.

Of course, each-way bets are one of the most popular betting categories at Cheltenham. As such, here are our Cheltenham EW betting tips for 2022:

1.     18th March 2022: A Plus Tard at Cheltenham Gold Cup

Champ is the top favourite at Cheltenham Gold Cup, priced at 3/1 to win. As one of the top rivals, Conflated is scheduled to miss the Cup, Champ is the most likely winner, and should at least place in the top-3. A (double) £20 bet could get you a return of up to £112.00.*

2.     18th March 2022: Saint Felicien at Martin Pipe Handicap Hurdle NRMB

While Saint Felicien is the second favourite at Martin Pipe Handicap Hurdle, we think he has a good chance to win and will almost definitely place in the top 5. In three hurdle runs, this horse has won two and come in second once. At 7/1, a bet on Saint Felicien will get you a potential return of up to £160 for a (double) £20 bet.*

3.     16th March 2022: Unexpected Party at Coral Cup NRMB

After winning the Ascot in January, Dan Skelton’s horse is likely to perform again at the Coral Cup. While the field is still competitive, we think Unexpected Party has the makings of a top performer. Along with a strong pace, he is likely to make for another win, or at least place in the top 5. At 8/1, a bet on Unexpected Party will get you a potential return of up to £232.00 for a (double) £20 bet.*

*Odds are subject to change. Head to Paddy Power to check the latest odds.

While these are our each way betting tips for Cheltenham 2022, there are plenty of other opportunities to be found.

How Does Each-Way Betting Work?

Each-way betting is very simple. You can find the EW option on your betting slip when you choose a horse to win.

Each-Way Bet Example

In this example using the Betfair sportsbook, we are betting on Verbal Fencing at the 18:10 Curragh race. Since this is a race with just 7 runners, place pays out at ¼ the odds for 2 places. The odds for a win are at 10.0. 

If we bet £10 on win, the potential return is £100.

If we choose EW, we double our stake to £20.

The maths behind this is very simple. For the first bet, if Verbal Fencing wins, it follows that £10 × 10 = £100.

For the second bet (EW), there are 3 options:

In this case, we win (£10 × 10) + (£10 x 3.25) = £132.50.

Our profit is £112.50.

In this case, we lose the win bet but win the place bet. Our payout is (£10 × 3.25) = £32.50.

Our profit is £12.50.

In this case, we lose both bets.

Our profit is -£20.

How to Place an Each-Way Bet

On your betting slip, you will see a small box – this gives you the option of placing an EW bet. Tick the box, and your stake will be doubled into two bets. While you can go about calculating your bets with an each-way calculator, most betting sites show you exactly how much you can win by ticking the EW box.

When placing your bet, pay attention to three things:

The Odds for Your Horse

This is obvious. We assume you know what odds are, whether fractional or decimal. Our odds converter can help you if you are confused.

How Many Places Pay Out

In the example below, there are 2 places, which means winner plus second or third place payout for the place bet. As long as your horse finishes first, second or third, you win the bet. Pay attention as sometimes there are three places, meaning you also win the bet if your horse places fourth. Other bookies use different notations, such as Each Way 1 – 2 – 3, or Each Way 1 – 2 – 3 – 4.

The EW fraction

In this example, the EW fraction is ¼. This means your payout for the bet is 14/1 (15 in decimal odds) × 1/4 = 7/2 (4.5 decimal). Again, feel free to use our odds conversion calculator (linked above) to help you do the maths.

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EW Terms

Not all races have the same number of horses – because of this, place terms are different depending on how many horses are in the races:

Bookies have different terms for what happens if a horse drops out of a race. Depending on how many horses drop out, place terms can be changed from first 3 places to first 2 places. This depends on your bookie’s specific terms.

Each-Way Betting in Other Sports

While each-way betting is most prominent in horse racing, you will also find it for plenty of other sports, including football and golf.

Each-Way Bets in Football

Each-way bets on football betting sites are usually for the outright market. While you can pick an outright winner, you can also place an extra bet that that winner will place at least third or fourth.

Each-Way Bets in Golf

Each-way bets are even more common in golf than in football. Betting on a tournament winner can be hard, but if you place an EW bet, you place a second bet that the golfer will end up in the top 5.

EW Bets for the Most Famous Golf and Racing Events

Different bookies offer different terms when it comes to each-way bets, both for horse racing and golf tournaments. Place terms vary, as well as the EW fraction. Several bookies offer specific promos for EW bets, where you can choose between a lower EW fraction or more qualifying places. Both Betfair and bet365 have Each Way offers available.

Horse Racing

Golf

Each-Way Betting Strategy

While you can find each-way bets for most races, the question you should obviously ask yourself is when each-way bets have value. As you might guess, a lot depends on the odds.

When to Bet Each-Way

You should consider betting each-way if the odds are at least 4/1 (5.0). This means that if you lose your win bet, your place bet will at least cover your losses, as long as your horse places. Of course, this is not for the absolute favourites, most of which are well below 4/1.

Consider an each-way bet when:

When Not to Bet Each-Way

If the odds are less than 4/1 (5.0), there is little value in an EW bet. While winning the place bet can work as a form of ‘insurance', it will not generate any profit if the win bet loses.

Do not place an each-way bet when:

Each-Way Accas or Multiples

There are several types of each-way accas. It is important to remember that each-way multiples are settled on a WIN-to-WIN and PLACE-to-PLACE basis. If one element of the bet loses, it is voided; however, the other element is still valid and can be multiplied by the same element on the rest of the bet slip.

Win bets are multiplied by win bets, while place bets are multiplied by place bets.

If you lose one selection on the win market, all win bets are forfeited. However, you can still win place bets as long as all of your horses place.

If each of your horses win the race, you will win all bets.

EW Double: Two Horses

An each-way double is a win double and a place double. If you lose the win double, you can still win the place double.

EW Treble: Three Horses

An each-way treble is a win treble and a place treble. If you lose the win treble, you can still win the place treble.

Each-Way Accumulator: Four or More Horses

Accumulators with four selections or more work the same way. If your horses win the race, you win the full amount. If one of your horses does not win but all horses still place, you win the place part of the bet.

Other Common Betting Terms

ThePuntersPage Final Say

Each-way betting can be a profitable betting strategy. While it can help you ensure a profit if the odds are high enough, it will only act as insurance if the odds are lower. Pay attention to how each-way multiples work, since they are not the same as a standard acca.

Keep in mind that sites like bet365 or Betfair let you choose between more places or higher odds for your each-way horse racing bets, which can definitely spice up your betting strategy.