Each Way Betting Explained - How Does It Work? - The Ultimate Guide

Each Way Betting Explained

In this article we explain all you need to know about Each Way betting including what this bet type is, how to place an each way bet, an example of one and more.

Each Way Betting – How Does It Work?

Each way (also seen as E/W) betting is most commonly associated when betting on horse racing, but can be utilised when wagering on almost any sport including golf, football, tennis and darts.

Each way betting is often misunderstood by punters, however, when applied sensibly and logically, betting each way can be a great way to increase your long term profitability.

What Is An Each Way Bet?

An each way bet consists of two equal sized bets: a ‘win bet’ and a ‘place bet’. For the win part of the bet to give a return, the selection must finish first. For the place part of the bet to give a return, the selection must either finish first or finish amongst the ‘places’.

What Is An Each Way Double Bet?

An each way double bet consists of two each way bets placed on two separate races in which the stake and winnings from the first each way bet fund the stake on the second bet.

For an E/W double bet to be successful, your selections must win or finish amongst the places in both races or you will lose you total stake.

Place Terms

The place terms refer to the number of places being paid out by the given bookmaker.

In most cases, the number of horses determines the number of places that will be paid out and the fraction of the ‘Win’ betting odds used for settling the ‘Place’ part of an each way bet (the place part of an each bet is settled by dividing the price by the fraction offered before the race).

Bookmakers frequently chose to offer enhanced place terms as a special promotion or for some of the biggest races in the horse racing calendar (such as the Grand National).

Grand National Place Terms

How To Place An Each Way Bet

Here’s how to place an each way bet. We’ll be using bet365 in our example although the process of placing your bet online should be the same regardless of what bookmaker you use.

Step 1) Add your selection/s to your bet slip as normal.

How To Place An Each Way Bet Step 1

Step 2) Enter your stake.

How To Place An Each Way Bet Step 2

Step 3) Select the ‘Each Way’ option and confirm your bet.

How To Place An Each Way Bet Step 3

Example Of An Each Way Bet

So then, we place £5 each way (£10 total) on a horse priced at 12/1 (13.0) and the bookmaker is paying 1-3 places at 1/4 of the odds.

If our horse finishes first, the returns will be broken down as follows:

  • Win Part Calculation – £5 @ 12/1 = £60 profit.
  • Place Part Calculation – 12/1 @ 1/4 of the odds = 12 divided by 4 = 3/1. £5 at 3/1 = £15 Profit.

Total Profit = £60 (win part) + £15 (place part) = £75.

If our horse finishes second, the returns will be broken down as follows:

  • Win Part Calculation – Lost.
  • Place Part Calculation – 12/1 @ 1/4 of the odds = 12 divided by 4 = 3/1. £5 at 3/1 = £15 Profit.

Total Profit = -£5 (win part) + £15 (place part) = £10.

What Bookmakers Offer Each Way Betting?

The following bookmakers offer each way betting:

BookmakerBonusLink
£200 BonusCLAIM
Bet £10 Get £30CLAIM
New Player BonusCLAIM
New Player BonusCLAIM
Bet £10 Get £30CLAIM
Bet £10 Get £40CLAIM
£30 Free BetCLAIM
£25 Free BetCLAIM
Bet £5 Get £20CLAIM
£50 Free BetCLAIM
New Player BonusCLAIM
Bet £10 Get £30CLAIM

Strategy – When To Bet Each Way

It is important to take each scenario on its own merit.

At the very least and as a general rule, each way betting is only worth while if the odds are big enough to generate an overall profit if the selection was to place but not win. With that in mind, each way betting should only be considered when your selection is priced at odds of 4/1 (5.0) when an E/W bet is paying 1/4 of the odds on a place or 5/1 (6.0) when an E/W bet is paying 1/5 of the odds on a place.

Summary

An each way bet consists of two separate bets: a ‘win’ bet and a ‘place’ bet. For the ‘win’ part of your bet to generate a return, your selection must finish first. For the ‘place’ part of your bet to generate a return, your selection must either finish first or finish within the predetermined places.

Grasping the idea of E/W betting can be confusing, however, we’d strongly recommend you take the time to fully understand the concept because when used right, it can and has been proved to work in beating the bookies.