Various Approaches for Placing Multiple Bets Equally on Multiple Outcomes
*Each-Way Betting for Fun and (Hopefully) Profit****By Alex Windsor (Walled up, No BS, Unfiltered) November 20, 2024
Welcome back, bettors! Let's delve into an oldie but a goodie: each-way betting. This popular wagering strategy is a favorite among horse racing fanatics, offering chances to cash in if your pick finishes in one of the top spots. But it ain't all sunshine and rainbows, so buckle up for some tips and tricks on navigating the each-way betting waters.
Just Two Bets, One Chance to Win Big
Each-way is a two-part wager that covers both a horse winning and finishing in the top spots, also known as "placing." The betting options for each-way can vary, but you'll commonly find bookies offering places to the first three or four horses.
If you fancy a long shot with a puncher's chance for the win, but think it might struggle to secure a top-three finish, placing an each-way bet allows you to cash in on a top finish while retaining the dream of a massive payout if they cross the finish line first.
How to Get in on the Each-Way Action
To place an each-way bet, choose a horse and pick an upcoming race. Once you've selected your preferred ride, tap their name to add them to your bet slip. From there, select the each-way option. Now it's time to lock in your stakes.
Remember that your stakes are split evenly between the win and place bets, so the total amount you wager will be double the amount you initially decide. For example, if you place a £15 each-way bet, you're actually wagering £30 – £15 on the horse to win and another £15 on them to finish in the top spots defined by your bookie.
Cashing Out Your Each-Way Bet
If your horse wins, you'll be paid at the full win odds. If they hack it across the finish line in second, third, fourth, or even fifth place (depending on the each-way terms of your bookie), you'll collect a smaller return at a fraction of the win odds.
For instance, let's say you bet on a 5/1 (6.00) shot to win. If they claim victory, you'll win £85 (£15 * 5 + £15 * 5) for a £30 investment. If they place second, you would receive around £16 (as 1/5 of the win odds) for your place portion.
Climbing on the Each-Way Bandwagon
Ready to give each-way a spin? Here's how to get started:
- Open an account with one of our recommended bookies, if you haven't already.
- Navigate to the racebook and select a race that tickles your fancy.
- Tap the E/W checkbox next to the horse you're backing (you'll see the number of places the horse must finish for your bet to be a winner).
- Enter your stake amount in the field provided.
- Tap the "Place Bet" button or any similarly labelled option to confirm your bet.
Remember, bookies like bet365, Betfred, BetVictor, BoyleSports, Betway and 888sport, offer attractive place payouts on big races like the Grand National, so keep this in mind when placing your bets.
Each-Way Betting Strategies for the Smart Player
There's no such thing as a foolproof betting strategy, but here are a few strategies that might help you make better choices when placing each-way bets:
- Conduct your own research: Don't blindly bet on the horse with the funniest name. Get to know the form, performance stats, and any other useful tidbits before making your pick.
- Use an E/W calculator: Be sure to check the potential payout for your bet to see if it's worth the investment. An E/W calculator will quickly crunch the numbers for you—just enter your stake, odds, and the number of places your horse needs to finish to see your potential profit.
- Start with small stakes: Each-way bets can be a bit risky, especially in races with lots of runners. Start out small, test different strategies, and grow your bets as you become more comfortable with the market.
- Look for races with lots of runners: Big fields often offer longer odds for the place side of each-way bets, providing a slightly better price due to increased risk.
- Be wary of multi-leg accumulators: Remember that if you create an each-way accumulator with multiple legs, you'll need to stake a larger amount of money. If one leg loses, you'll lose the entire bet.
- Understand Rule 4: This rule pertains to horses that are scratched from a race after you've placed a bet. If the horse you backed wins or places, your payout will be smaller due to Rule 4.
Pros and Cons of Each-Way Betting
Below is a summary of the pros and cons of each-way betting:
Pros
- Each-way bets offer an insurance policy if your horse doesn't win but places.
- You can place each-way singles or create accumulators.
- The place part of the each-way bet lets you break even or even earn a small profit.
- The Each Way Extra option allows you to increase or decrease the number of places the horse needs to finish in.
- Races with lots of runners often offer longer odds for the place side of each-way bets.
- Some bookies even offer E/W odds for sports other than horse or greyhound racing.
Cons
- The total stake amount is doubled since you're paying for both the win and place bets.
- Adjusting the number of places with Each Way Extra reduces the odds, resulting in a lower payout.
- Reduced payout in the event of a dead heat.
- Lower payout if Rule 4 applies.
Beyond the Basics
If you're ready to take your each-way betting game to the next level, check out our advanced strategies section. Familiarize yourself with each-way arbing, selective place terms exploitation, staking adjustments for value, combining each-way bets with exotic wagers, and market movement monitoring to enhance your each-way betting abilities.
When to Avoid Each-Way Betting
Despite our best tips and tricks, there are situations when you should stay away from each-way bets. These include:
- Races with less than five runners: Since each-way bets require placing bets on both win and place markets, it's best to avoid placing each-way bets in races with only two or three runners, as it doesn't provide good value.
- Betting on favorites: There's little point in placing an each-way bet on a short-priced favorite, as the chances of them winning are already high, reducing the chances of cashing the place part.
That's all, folks! With a bit of luck, some smart betting, and our helpful tips, you'll be navigating the waters of each-way betting like a pro in no time. Good luck, and may your horses run free!
Alex WindsorA ten-year iGaming industry veteran and Managing Editor at our website, Alex specializes in sports betting and betting tools. He focuses on providing insights into sports, betting tools, offers, and strategies, helping you make informed bets. With his expertise in football and soccer, Alex ensures that we offer you a reliable resource for all things betting. *
- In the world of sports betting, horse-racing enthusiasts often apply betting strategies such as each-way betting when wagering on races, where a single bet covers both a horse winning and finishing in the top spots, usually referred to as "placing."
- For punters seeking to diversify their sports betting portfolio, understanding each-way betting strategies can be beneficial for sports like racing and even sports other than horse-racing, as some bookies offer such options for wagering on various events.
