What does Each Way Bet mean and how does it work? TheTrader answers

Even if you’ve been betting on matches at online bookmakers for years, you might not know what each-way betting is.

However, this isn’t surprising because you won’t come across such bets if you are only interested in football, tennis, basketball, and other similar sports.

Each-Way betting, also known as EW betting, has been popular among bettors for many years, especially those involved in horse racing, but is it just that?

Chapter 1

What does Each Way mean?

The Principle of Each Way Betting, where you will find:

• How does each-way betting work?
• How does it look like in practice?
• How high are the winnings?

Here we go!

An Each Way bet consists of two different bets: one for the horse to win and the other for the horse to finish in any one of the race’s placings.

Doing so means that you’ll get a payout not only if your chosen horse wins but also if it only finishes second or third.

When you place an each-way wager, you put money on both the winner and the place.

If, for example, you bet £20 on a horse to win, we have the option to bet EW, which is an each-way bet.

It also gives us an extra £20, and in the event that our horse doesn’t come first but does come in second or third place, we can count on the each-way bets.

The odds are lower here, but it’s often the case that we get back the £20 we wagered on a win, and sometimes there’ll be a few more pounds on top.

The additional profit or total return is determined by the odds of winning. The higher it is, the higher the odds for your each-way bets are.

Chapter 2

Each Way odds and payouts

• What are the odds and payouts?
• How do the odds ratios affect our winnings?
• How are the paid places determined?

Here are the answers to the questions above!

When considering whether to back your selection using an each-way bet, it’s crucial to consider the odds of winning and of placing.

This is because if the place odds aren’t evens (1/1) or higher, you lose money overall on an each-way bet.

Finding the each-way fraction and inverting it to give you the odds at which your each-way bet will break even if it places is a simple method.

It ensures you only bet each way on horse racing at odds that will return at least your whole stake if they place.

Your pick must either win or finish in one of the specified places for the event, such as first or second place, for the place component of the wager to pay off.

The odds paid on the place component of the bet are generally a fraction of the win odds (usually, 1/4, or 1/5).

The Each Way terms of the place and the number of places paid are usually determined by the number of runners in the event.

Runners	Place Terms	No. Places Paid
1-4	–	Win Only
5-7	1/4 odds	1 and 2
8+	1/5 odds	1, 2 and 3
12-15 (handicap only)	1/4 odds	1, 2 and 3
16+ (handicap only)	1/4 odds	1, 2, 3 and 4

Chapter 3

How do I calculate each-way bets?

Below you will see what are the winning bets when we use Each Way bet.

We will show you three different, and simple examples with calculations
to help you understand Each Way betting.

Let’s go!

Remember that when you place an each-way bet, you’re actually placing two bets.

By selecting an ‘Each Way’ bet, the bookmaker will take the stake multiplied by two. An each-way bet can result in one of three outcomes:

the horse wins the race,
the horse places,
the horse does not place.

Here’s what it looks like in real terms:

Example no. 1

You bet £10 EW on a horse with odds of 11/1.
The bookmaker pays 1/5 for 1, 2, and 3.
The horse comes in the first place.

In this case, both bets win. By combining both bets, you can determine the winnings.

Returns for the winning portion of the bet would be:
£120 return (£110 profit + £10 stake)
Returns for the place portion of the bet would be:
£25 return (£20 profit + £5 stake)

Total winnings: £130, and the £10 stake is returned

Example no. 2

You bet £10 EW on a horse with odds of 11/1.
The bookmaker pays 1/5 for 1, 2, and 3.
The horse comes in second place.

In this case, only the place bet wins. The second bet alone is included in the winnings.

Bet on the horse to win: LOST
Each Way bet returns for the place part of the bet would be:
£25 return (£20 profit + £5 stake)
Total winnings: £20, and the £10 stake is returned

Total winnings: £20, and the £10 stake is returned

Example no. 3

You bet £10 EW on a horse with odds of 11/1.
The bookmaker pays 1/5 for 1, 2, and 3.
The horse comes in fifth place.

In this case, neither bet wins.

Bet on the horse to win: LOST
Bet on the horse to place: LOST

Total winnings: No winnings.

Chapter 4

Each Way Betting Calculator

Find out how your bet spreads before you place your first each way bet.

In addition, get access to a free calculator to make your job easier.

The link to the calculator is right there below!

Your stake is doubled when you place an Each Way bet, so a £10 Each Way bet would require £20. £10 will be bet on the winner and £10 on the place aspect.

To avoid any inaccuracies or miscalculations, we recommend using our Each Way Betting calculator. It will calculate your winnings, making it as clear as day.

Chapter 5

Each Way Bet Matcher

Here you will learn:

• What is Each Way Matcher?
• How does it work?
• And you’ll also get access to the free Each Way Matcher.

Check it out!

The Each Way Matcher tool analyses the lay odds on several betting exchanges and the odds for each-way bets at multiple bookies.

You spend half of your total stake on your pick to win and the other half on your selection to finish in a place position when you bet each way.

As a result, while laying each-way wagers, you must stake both the win and the place.

The Each Way Matcher analyses win, and each-way places odds for horses competing in races on any given day and looks for potentially profitable chances within those odds.

The Each Way Matcher ranks the most lucrative matches and assigns a rating to each of them.

Any match rated over 100 percent is a profitable arb in which you can lock in a profit simply by backing and laying the selection.

Chapter 6

What kind of sport is suitable for each way betting?

Let’s find out where and how we can use Each Way betting.

Examples of usage in sports such as:
• Horse Racing
• Football
• Golf

Nowadays, Each Way betting can be found in a wide variety of sports as long as there are a large number of participants in the category.

Therefore, this option is available in a number of sports, including football, golf, tennis, and motorsport races such as Formula One.

Each way bets in Horse Racing

Each Way Betting is a strategy developed primarily for horse racing, so you will usually only bet on horse racing if you opt for the each-way betting system.

So, if you use it to bet on the winner of a horse race, you are actually placing two bets: one on your selection to win, and another on your pick to finish in ‘place’ – that is, in one of the top ranks.

Detailed conditions vary depending on the number of actual participants in the race, such as 5-7. If your pick comes in second place, the wager is settled at 1/4 odds for the race winner.

Betting on horse racing usually associated with accumulator bets. But, can the acca bets be each way? Yes, they can! How? We’ve explained it in this article.

Each Way bets in Football

When it comes to football, the terms for how many spots are paid and how the odds are adjusted may differ from one event to the next.

The rules for the World Cup, for example, are ‘0.5 first, and second,’ which means that the chances for placing are halved, and the placement bet is a winning bet if the team makes it to the final.

Example: £5 Each Way Bet on France to win the World Cup at 8/1 would be a £10 bet.

If France wins the tournament, the return will be £40 (£5×8) + stake = £45.
If France loses in the final, the placing bet returns £20 (£5x8x0.5) + stake = £25.

Each Way goalscorer

Half of your stake is placed on a conventional first goalscorer bet in an each-way bet.

This is a wager that a player of your choice will score the game’s opening goal.

The second half of your bet is placed on the same player scoring the match’s second, third, or any subsequent goals.

Example: £5 Each Way Bet on Harry Kane to score a goal at 5/1 would be a £10 bet.

If Harry scores a goal, the return will be £25 (£5×5) + stake = £30
If Harry scores at any time, the return will be £15 (£5×3) + stake = £20,
because if your player scores at any time during the game in 90 minutes of play, bookmakers will usually pay you out at 1/3 odds for unlimited places.

For full details on bet settlement, please refer to the bookmaker’s First Goalscorer rules.

Each Way bets in Golf

In golf, each-way bets are much more popular than in football. This is because it’s difficult to predict a tournament winner.

Still, if you place an EW bet, you’re also betting that the golfer will finish in the top three / four/ five, depending on the bookmaker’s offer. Place terms vary, as well as the EW fraction.

The most popular golfer of all time is Tiger Woods, so we will use him as an example.

Example: £5 Each Way Bet on Tiger Woods to win the tournament at 9/1 would be a £10 bet.

If Tiger Woods wins the tournament, the return will be £45 (£5×9) + stake = £50.
If Tiger comes in second or third place, the return will be £10 (£5×2) + stake = £15.

The multiplier amount that will allow us to determine the winnings for second or third place depends on the bookmaker’s offer.

In this case, the probable odds for Tiger Woods to finish in the Top 3 would be 2/1.

Please note that each tournament and bookmaker will have their own Each Way Betting terms and rules.

Therefore, it is worthwhile to carefully read the offer or free bet terms in order to avoid an unpleasant surprise.

Chapter 7

How do you place an each-way bet?

Step by step guide where you will find out:

• How to place an each way bet on Betfair Sportsbook?

Let’s get it started!

Below is an example of how to place an each-way bet with the online bookmaker Betfair.

Most other online bookies operate in a similar way.

Step 1

A betting slip will appear by clicking on the odds box next to a horse’s name.

Step two

Enter your stake, and check the EW box. Bear in mind that this will double your stake, so you might want to modify it.

As you can see in this betting slip, the bookmaker will pay out at 1/4 odds, regardless of whether your horse finishes in second or third place.

You can modify paid places by clicking the minus or plus button. The odds will change and be applied automatically.

Please note that Odds Booster is not available in the Each Way Betting system, so make sure it is not applied.

Chapter 8

Each Way Betting Systems

Methods and techniques used with Each Way bets.

Let’s see how it works with:
• Matched betting
• Dutching
• Arbing

Matched Betting

You can ensure that qualifying losses are kept to a minimum and still make a potential profit by laying both the win and place bets.

There are a few other ways to make money with the each-way strategy, but the most common and successful method is through additional place offerings, which include each-way matched betting.

Extra place offers are common and consist of a unique offer from a bookmaker to pay out on extra places in a particular race.

o, for example, a bookmaker might payout on three places in extra place races instead of paying out on four.

We can take advantage of that, but how?

Let’s assume that exchange would be tied for positions 1-4, so if our horse finishes 4th, we will win both bets with the bookie and the lay bet in the exchange, which could give us a decent profit.

Dutching

Each Way Dutching is a betting strategy in which the stake is split across several each-way bets in an event, ensuring that the same amount is earned regardless of whether the pick wins or finishes second.
When dutching each way, you must determine whether you want equal returns if any selection wins or equal returns if any pick finishes in the top three.
The method is similar to ‘win-only dutching’ in that you’re taking advantage of favorable odds from the bookies. But instead of win odds, you’re taking advantage of each-way odds.

Arbing

Each Way Arbing (also known as Each Way Arbitrage) in both directions is a sophisticated matched betting technique.

Once you’ve mastered backing and laying horse races, you may utilise this strategy.

The system’s first step is to find a race that has one or two short-priced favourites. These are the races where the bookmakers’ betting coupons provide the best value.

The bookies pay more for the spot in certain races than the win-odds suggest. That means that the odds on the bookies’ place market are typically far higher than the price on Betfair for the identical event.

Arbitrage is often known as a ‘Surebet’ since it is almost impossible to lose.

The basic idea of each-way arbitrage betting is that you bet on all potential outcomes of an event at odds that will allow you to earn, regardless of what happens.

Chapter 9

Each Way Betting Services

An honest opinion about commonly available services related to Each Way betting.

• Are they really profitable?

Let’s find out!

It is said that there are as many methods, services, and software as ideas.

This is partly true; however, regardless of what we use, special software that performs all the calculations for us can always be a helpful tool.

So let’s take a look at some of them.

Each Way Sniper

Does the developer claim that Each Way Sniper is a horse racing betting software that exploits a loophole in the way bookmakers price each-way bets, but is it true?

As unaffiliated and independent experts, we would like to warn you against this ‘great’ software.

You will find plenty of positive reviews on the Internet. But take caution; these websites either praise their product themselves or have been paid to give positive feedback.

The main issue we noticed is that the exchange throughout the week, particularly the “to place” markets, is not popular enough to provide adequate liquidity.

Unless it’s a major race/meeting, the odds are typically too far apart, especially on the EW lay side (if there is any liquidity at all). So you’d have to spend many hours to get a single bet.

We recommend that you don’t throw your money away!

Each Way Matcher

Each Way Matcher analyses the lay odds on several betting exchanges and the odds for each-way bets at multiple bookies.

The Each Way Matcher ranks the greatest value matches and assigns a rating to each of them. Any match with a 100 percent rating is a profitable arb in which you can lock in a profit simply by backing and laying the selection.

The main problem is that while the software will indeed find the best possible bet, this technique requires that you play lay bets on the betting exchange at specific odds

Unfortunately, as we all know, on betting exchanges, you cannot be sure that your lay bet will be matched, especially at the specified odds, rather than the current odds.

Therefore, this is by far the biggest problem that cannot be circumvented in any way.

Chapter 10

Each-way betting – tips for newbies

Top tips you should always consider when using Each Way betting.

Increase your chances right away by following the tips below!

Do you have your own suggestions?

Let us know!

Choose odds above 5.0

Horse racing bettors who give good advice to beginners say to bet each way only if the odds on the horse winning are high.

When the odds are low, it is simply not profitable.

Therefore, it can be said that an each-way bet is a kind of protection and increases the probability of winning money even if your horse doesn’t finish in the first place.