Each-way Bet Tips
Common questions in betting are what is an Each-way bet and how do Each-way bets work? An Each-way bet is actually made up of 2 separate parts. When you fill in your bet slip, the total stake is split equally between the Win part of the bet and Place part. An example would be a £10 Each-way bet on Sangarius in the 3.05 Ascot, that would cost £20 (£10×2). In essence you have more insurance with Each-way betting rather than traditional Win Only. Your selection doesn’t need to win the race to give you a return.
There is no golden rule to Each-way bets but there are better and worse terms for the punter in their fight against the bookmaker. Enhanced place terms for Each-way betting are becoming more and more common and should definitely be factored into your decisions on where to place your bets.
You can expect plenty of Each-way betting tips from GreenRoom.bet particularly when it comes to Horse Racing betting tips.
What is an Each-way bet?
Each-way is a form of betting in which you split your stake over 2 different bets. Half your stake on a win bet and half on a place bet.
How does an Each-way bet work?
In this explanation of how an each-way bet works, we will talk specifically about horse racing. If there is a race with 8 runners. Your each-way bet will see a win bet on the horse and a place bet that requires the selection to end the race in the first 3 places. The rules and calculations for the place part of the bet change dependant on the amount of runners and race type. Here are the full standard bookmaker rules for Each-way betting on horses;
2-4 horses – Win only bets here, no place betting
5-7 horses – 1st and 2nd qualify as placed and you are paid at 1/4 the odds of your selection
8+ horses – 1st, 2nd and 3rd qualify as placed and you are paid at 1/5 the odds of your selection
Handicap Races with 12-15 horses – 1st, 2nd and 3rd qualify as places and you are paid at 1/4 the odds of your selection
Handicap Races with 16+ horses – 1st, 2nd, 3rd and 4th qualify as placed and you are paid at 1/4 the odds of your selection
Handicap Races explained here in full
An example, you place a £5 Each-way single bet on Horse A (total stake is £10, £5 on the Win bet, £5 on the Place bet) who runs in a handicap race with 18 horses competing. The odds of your horse were 20/1. He wins the race so you get £5 Win @ 20/1 which returns £105 in total. Your £5 Place bet is 1/4 the odds of 20/1 which is 5/1 (20÷4), so your total return from the Place part of the bet is £30. Total returns for the bet are £135.
Another example would be the same horse finishing 3rd in the same race type. Here your £5 Win bet would be a loser, no returns. Your Place bet would be a winner and would return £30 like in the first example. So your total returns for the bet here are £30.
It should be quite easy to see that the bookmaker has a big edge in situations where races have 15 runners. They are then paying out Place bets on only 20% of the field size at 1/4 odds in handicaps which are designed to be competitive and hard to predict. In contrast, they have less edge in a 5 runner Group race for example where you get paid the first 2 places which equates to 40% of the field size.
Each-way Betting Bookmakers
Particularly over the last few years the competition between online bookmakers has seen a big increase in enhanced Each-way terms. You will often see bookies paying 5, 6, 7 and sometimes 8 places for big handicap races with 20+ runners.
Each-way Bets Enhanced Place Terms
The best bookmaker when it comes to these enhancements is probably SkyBet, closely followed by PaddyPower. Always search for the very best terms before placing your bet, you also have to factor in the difference in odds at each bookmaker obviously.
Each-way Accumulators & Multiple bets
All multiple bets like Trixies, Patents, Lucky 15s, Round Robins etc can be done Each-way. This will simply result in double the amount of bets. For example, an Each-way Lucky 15 will be 30 bets rather than 15.
Which sports can I bet Each-way?
In essence, any sport can feature Each-way Betting. Provided there is a betting market where there can be a Win and Place outcome. So typically you can bet Each-way in Outright Winner markets like the Superbowl in American Football betting or Tournament Winner in the Champions League. Those two markets would generally have Each-way terms of 1/4 the odds for placing 1st or 2nd (making the Superbowl or CL final).
You could also bet Each-way on First Goalscorers, Tryscorers, Touchdown Scorers etc. The terms here will change dependant on the sport but the concept remains the same.
Greyhound betting is also an option for Each-way betting although not massively popular. Terms for UK Greyhound races which normally have 6 dogs running are 1/4 odds for the first 2. In Australia in particular, they tend to have 8 dogs run, the standard terms then are 1/5 odds for first 3.