If you are new to the world of sports betting, you may have come across the term “each way” and wondered what it means. This type of bet is commonly used in horse racing and golf, but it can also be applied to other sports. In this article, we will explain what each way betting is and how it works.
What Does Each Way Mean in Betting?
Each way betting is a type of wager where you place two bets: one on the selection to win and another on the same selection to place. The “place” terms are determined by the bookmaker and can vary depending on the event and the number of participants. For example, a bookmaker might offer the following place terms for a horse race with 8 or more runners:
- 1st place: 1/5 of the win odds
- 2nd place: 1/5 of the win odds
This means that if you place a £10 each way bet on a horse with odds of 8/1 and it finishes 1st, you will receive a return of £90 (£10 at 8/1 for the win plus £10 at 1.6/1 for the place). If the horse finishes 2nd, you will receive a return of £22 (£10 at 1.6/1 for the place only).
Advantages and Disadvantages of Each Way Betting
Each way betting can offer several advantages to bettors. Firstly, it provides a safety net in case your selection doesn’t win but still manages to finish in a paying position. This can be particularly useful in races with a large field where the chances of picking the winner are lower. Secondly, it can increase your overall payout if your selection wins or places at high odds.
However, each way betting also has some drawbacks. The main disadvantage is that it can be more expensive than a win bet because you are essentially placing two bets. This means that your total stake will be twice the amount of your unit stake (e.g. £10 each way bet = £20 total stake). In addition, the place terms can vary between bookmakers and events, so you need to shop around to get the best value.
When to Use Each Way Betting
Each way betting is most commonly used in horse racing and golf, where there are often a large number of competitors and the odds can be long. It can also be used in other sports where there are multiple outcomes, such as tennis or Formula 1. However, each way betting is not suitable for every situation and you should consider the following factors before deciding whether to use it:
- The number of competitors: Each way betting is generally more effective in races with 8 or more runners or golf tournaments with 100+ players.
- The odds: Each way betting is more beneficial when the odds are high because it can increase your payout if your selection places.
- The place terms: The place terms can vary between bookmakers and events, so you need to check them before placing your bet.
Tips for Each Way Betting
If you decide to use each way betting, here are some tips to help you get the most out of your wagers:
- Research the event: Look at the form of the competitors and the conditions of the event to help you identify potential winners and placers.
- Shop around for odds: Each way betting can be more expensive than a winning bet, so it’s important to get the best value for your money by comparing odds between bookmakers.
- Check the place terms: Make sure you understand the place terms and how they affect your potential payout.
- Use a staking plan: Decide how much you want to stake on each bet and stick to it to manage your bankroll effectively.
- Consider the risk: Each way betting can provide a safety net, but it’s important to remember that you are still risking your money. Don’t be tempted to place each-way bets on every selection just to cover your bases.
Each Way Betting vs Place Betting
It’s important to note that each way betting is not the same as place betting. Place betting is a simpler type of wager where you bet on a selection to finish in a paying position (usually 1st, 2nd, or 3rd). The odds for place betting are usually lower than for each way betting because you are not betting on the selection to win.
Each way betting can be a useful tool for sports bettors, particularly in horse racing and golf. It provides a safety net and can increase your overall payout if your selection wins or places at high odds. However, each way betting is not suitable for every situation and requires careful consideration of factors such as the number of competitors, the odds, and the place terms. By following these tips, you can make more informed each way bets and increase your chances of success.