An each way bet is a betting option that is offered in various sporting events such as horse racing, golf, and many others. It allows punters to bet on a specific outcome while reducing the risk of losing their entire stake. This article will provide a comprehensive guide on what this bet type is, how it works, and when to use it.
Most horse racing tipsters offer each way from time to time our tipsters included so it’s worth knowing what it is.
Understanding the Concept
An each-way is a type of bet that is made up of two separate bets. The first bet is placed on the chosen outcome to win, while the second bet is placed on the same outcome to place.
The place bet is usually offered at a fraction of the odds for the win bet, and it pays out if the chosen outcome finishes in a specified place.
For example, in horse racing, this type of bet is usually offered for the first, second, or third place. If you place an each-way bet on a horse to win, and it finishes in the first, second, or third place, you will receive a payout for both the win and place bets.
How Does This Bet Work?
This bet is pretty straightforward to understand and place. To place this bet, you need to select your desired outcome and then decide the amount you wish to bet. Once you have made your selections, the betting platform will calculate the odds for both the win and place bets and display the total stake required.
The odds for the win and place bets are calculated differently. The win bet odds are based on the chances of the chosen outcome winning, while the place bet odds are based on the chances of the chosen outcome finishing in a specified place.
When to Use an Each Way
This bet is a great option for those who are uncertain about the outcome of a sporting event. It allows bettors to bet on a specific outcome while reducing the risk of losing their entire stake.
For example, if you are unsure about the winner of a horse race, but you have a strong feeling about a particular horse finishing in the top three, you can place each way on that horse. This way, you have a chance of winning even if your chosen horse doesn’t win the race.
Or if you fancy a team not to lose but want to cover the win and the draw, a common bet used by football tipsters.
A place bet is also a great option for those who are new to sports betting and want to get a feel for the betting process without risking too much money.
Each Way Betting Advantages
- Reduced risk: This bet allows bettors to reduce the risk of losing their entire stake.
- Increased chances of winning: With this bet, bettors have a chance of winning even if their chosen outcome doesn’t win.
- More betting options: place betting offers more options than a straight win bet.
Disadvantages Of The Each Way Bet
- Increased stake: The bet requires a larger stake compared to a straight-win bet.
- Lower odds: The odds for this bet are generally lower compared to a straight-win bet.
- Harder to win on
The each way is and always will be a popular bet amongst punters as it offers some cover on your inital stake, if a horse you back for example comes second as lnog as the odds are 5/1 or over you will get your stake back and a touch of profit, win and obviously you win big.