Betting can be a profitable move, but you must know the ropes before you start climbing. There are different ways to improve your odds at the bookies, and one of them is betting “each way.” Perhaps, you’ve not heard of this punting option, and you’d like to know more to improve your winning chances, here’s a short guide explaining each-way bets explained —”when to back each way.”
What is Each Way betting?
Sometimes referred to as “EW betting,” Each Way bet involves placing dual bets in the outcome of sporting activity. Basically, you split your bet into two parts so that you can have a “win bet” and a “place bet.”
The winning aspect of the bet placed on a horse is for the horse to come in the first place, while the place aspect of the best banks on the horse to place. Note that a place is usually second or third, depending on the number of horses in a race.
The Place terms that will apply in an each-way bet.
- Less than five runners race: win only (each way betting does not apply here)
- Races with 5 to 7 runners: ¼ odds 1st and 2nd place
- Eight or more runners/ Non-handicap: ⅕ odds 1st, 2nd, and 3rd place
- 8 – 11 runners/ Handicapped: ⅕ odds 1st, 2nd, and 3rd place
- 12 – 15 runners/ Handicaps races: ¼ odds 1st, 2nd, and 3rd place
- 16 or more runners/ Handicap races: ¼ odds 1st, 2nd, 3rd, and 4th place
How to place an each-way bet
Placing an each-way bet is not different from placing a normal bet. After you’ve done your research on the horse you want to back by studying the racecards for horses, simply make your selection at the sportsbook’s online page. The slight difference is that you must remember to check the E/W box, which makes you bet an each-way wager. Now, if you make a stake of £5, your total each way bet will cost you £10.
The returns on an each-way bet.
The return on the ‘win’ aspect of an each-way bet will be paid in full if the horse you backed comes in the first place. However, the returns of the ‘place’ aspect of the bet will be at a fraction of the available odds on that bet, which is usually 1/4 or 1/5.
Meaning, if you place a £10 each-way bet, i.e., a total of £20 on a horse to win at 10/1, but the horse comes in second place. Your wager will only return £35 to you, i.e., the odd becomes reduced by a four or ¼ to 2.5/1 from 10/1.
When does it make sense to bet each-way?
The best time is when you have a “bad each-way bet.” When we say “bad,” we mean bad for the bookers, and bad for bookers means good for you. Here’s the thing, because bookmakers are bound by the place terms that apply in any each-way bet, and in any race, you can get the chance to place bets on positive “place terms.”
This is a condition where the odds of a horse coming in second or third is higher than the actual possibility of it happening. It’s good for you but it’s bad for bookmakers. Bookmakers don’t like this condition, so they cut stakes or refuse the bet by using automated restrictions to manage the scenario.
How To know a bad Each-Way race.
Opt for an each-way bet when you notice a race that there are only a few runners with a realistic winning chance. What’s more, to know you have found a bad each-way race for sure, double-check with the market that has “place only” bets.