Each Way Betting in Horse Racing Explained
Listowel 20 9 22 NAVORROSSE Rory Cleary red black win the ROse Hotel Handicap from Super Cub Dan King blue white
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Each way betting is very straightforward and a term you are likely to have heard bandied around when it comes to horse racing terminology. Put simply, an each-way bet is made up of two bets - a win bet and a place bet.
A place usually refers to 2nd, 3rd and 4th, depending on how many horses are in the race and the terms of your chosen bookmaker.
Betting each way increases your chances of making a return, however your stake is higher.
How Does Each Way Work?
Once you have chosen your selection for a race, check its current odds and consider whether the price is big enough to warrant an each-way bet.
- For example, if the odds are 10-1 and you believe your selection has a good chance of finishing in the places, then an each way bet is a good option.
- The next step is to place your chosen amount on the horse, for example €5 each-way on the horse, in total that will be €10 - €5 to win and €5 to place.
- If your horse wins, your return includes the win and place part of the bet.
- If your selection finishes in the places, you will receive a fraction of the odds - 1/2, 1/3,1/4, 1/5 of the odds (depending on the bookmaker terms) and the win part of your bet loses.
How to Place an Each Way Bet?
- Head to the bookmaker’s website you wish to place a bet with.
- Locate the race meeting and the name of your horse.
- Click on the odds box next to the name of the horse.
- Enter your stake amount. Eg. €5
- Tick the ‘ew’ box and this will automatically update the stake to €10.
- Place your bet
How to Calculate your Win in an Each Way Bet
If you place an each-way bet and the horse wins you can calculate your return in the following way.
- You have placed €5 each way on your chosen horse at 10-1 which is a total stake of €10.
- You will receive the win part of the bet which is 5 x 10 plus your stake which makes a total of €55.
- The place part of your bet will also be returned. Eg. the bookmaker is paying 1/5 of the odds, you will also receive 1/5 of 10-1 = 2.
- You then receive 2 x 10 = 20 plus your €5 stake so €25.
- Your total return is therefore €80.
How Does Each Way Payout?
The number of places paid out is determined by the bookmaker. For example 1/2,1/3, 1/4, or 1/5 of the odds.
|1 - 4 runners||Win bet only|
|5 - 7 runners||1st and 2nd place at 1/4 odds|
|8 - 11 runners||1st, 2nd and 3rd place at 1/5 odds|
|12 - 15 runners||1st, 2nd and 3rd place at 1/4 odds|
|16+ runners||1st, 2nd, 3rd and 4th place at 1/4 odds|
Make sure you check with the bookmaker what fraction of the odds they are paying as it differs between operators. Look out for Irish and UK Grand National extra place specials as bookies may add 7 places.
Is an Each Way Bet Worth it?
If you believe your selection in a race has a good chance of finishing in the places and the odds merit an each-way bet then it may be worth placing an each-way bet, for example if the odds are around 6-1 or higher. It is not worth placing an each way bet if the odds are short as returns are so low for the place part of the bet.
Advanced Types of Each Way Betting
If you have more than one fancy in a number of races then you may want to place an each-way multiple bet. This means you will receive a payout if any of your horses are placed.
Below are a few options:
- Accumulator - an each-way accumulator involves adding four or more horses to win and place.
- Double - this bet involved betting on two horses in two separate races and backing them to win and place.
- Treble - betting on three or more horses in three separate races and backing them to win and place.
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