New to sports betting and unsure what an each-way bet is? Don’t worry, as The Standard has you covered.
In its more simplistic form, an each-way bet is a two-part bet placed on betting sites that pays out if your selection wins - or finishes in a paid place.
Common in horse racing, where it can be difficult to identify a winner, each-way bets are also used for football and golf.
What is an each-way bet?
Effectively, an each-way bet is two bets in one - half your stake is placed on the selection to win, and the other half is bet on it to place. To place means to finish in the bookmaker's paid positions - normally top two, three or four.
Each-way bets are most common in horse racing, but any sport with outright markets, such as football, Formula 1, and golf, will usually offer each-way terms.
One thing to keep an eye on whilst wagering each way is the place terms. Place terms can vary, with bookmakers setting how many positions pay out and at what fraction of the win odds winnings are paid out for placed finishes. These are shown on the market.
How does an each-way bet work?
Your total stake is divided 50/50 - half on the win and half on the place. So, for example, a £10 each-way bet costs £20 in total - £10 win + £10 place.
If your selection wins, both the win and place parts pay out. If the selection only places, just the place part of the wager pays out, as the win half of the stake is lost.
If the selection doesn't place, the whole bet loses. Bear in mind that the place part pays at a fraction of the outright win odds - typically 1/5 or 1/4.
Each-way betting in horse racing
Bettors might use it on a horse with bigger odds to guarantee some kind of return if it doesn’t pull off the upset, or on large-field races like the Grand National, where picking the winner is difficult.
There is a standard scale set by UK bookmakers for paying out places. In fields of five and seven runners, two places are paid, while for races with eight or more, the top three places are covered.
Races with 16 or more runners pay four places, though for races like the Grand National bookies will run special betting offers where they pay out on extra places.
Each-way betting in other sports
A bettor using World Cup betting sites to wager on the winner of this summer’s tournament will need their selection to reach the final to guarantee a return, with bookies paying out on the runners-up at half the starting odds.
So if you backed Argentina to retain their title at 10/1 and they lost in the final, bookmakers would pay out on each-way bets at 5/1.
There are other outright markets in football with different terms, such as the top scorer market, where bettors can expect to be paid out at 1/4 the odds if their selection finishes in the top four of the standings.
In golf, backing a player EW at a major can see places paid on a top five, eight or ten finish, depending on the bookmaker.
Each way odds and payouts
The place part of the bet pays out the same fraction of the starting odds, no matter which place the selection finishes in, and so long as the bookmaker is paying on that place.
A horse priced at 16/1 to win the race would have place odds of 16/5, which simplifies to 3.2/1. So a £10 stake would pay out £32 in profit if the horse placed.
The Standard’s guide to betting odds is the place to go for more information on fractional odds.
Each way bet example
Take the Cheltenham Gold Cup, where you place a £10 EW bet on a horse priced at 16/1 with places paid on the top three at 1/5 of the win odds.
Your total stake would be £20: £10 on the win, and £10 on the place. If your horse came first, the bet would pay out the win and place parts. You would earn £160 in winnings for the win part, and a further £32 profit for the place part, as 1/5 of 16/1 is 3.2/1. You would also receive your £20 stake back.
If your horse placed in the top 3 - second or third - you would receive £32 back, as the win part of the bet did not land. You would also lose the win part of the stake, meaning your total profit would be £22 - but you would receive your £10 stake on the place bet back.
But if your horse does not place at all, you would lose both stakes and earn no winnings, representing a loss of £20.
Most bookmaker apps and websites feature an each way bet calculator that can do this maths for you, which is useful for combination bets.
Outcome |
Win part (£10 at 16/1) |
Place part (£10 at 1/5 of 16/1) |
Total profit/loss |
|---|---|---|---|
Horse wins |
£160 |
£32 |
£192 profit (plus £20 stake back) |
Horse places (top 3) |
-£10 |
£32 |
£22 profit (plus £10 place stake back) |
Horse doesn’t place |
-£10 |
-£10 |
£20 loss |
Each way bet - frequently asked questions
How are each way bet returns calculated?
The win part pays at the full outright odds, and the place part pays at a fraction - typically 1/5 or 1/4 - of those odds. Most bookmaker apps include an each way bet calculator that handles the maths automatically for you.
Can you place an each-way bets on football?
Each-way bets apply to any market with multiple finishing positions. Football outright markets, such as league winner and top scorer, are the most common ways to place football each way bets, with places paid on the top two, three, or four depending on the bookmaker.
Can free bets be used for each-way bets?
Be able to use any free bets to place an each-way wager depends on the betting site. Some will allow you to use free bet tokens to bet each way, but others place restrictions on the bet types a bonus can be used. Check the terms and conditions of any World Cup free bet offers before opting in.
