Each way betting is a type of betting done on horse racing. Rather than simply betting on a horse to win the race, each way bets cover the horse to come in several places as a
Each way betting is a type of betting done on horse racing. Rather than simply betting on a horse to win the race, each way bets cover the horse to come in several places as a runner-up, usually 1st to 4th place. Some bookmakers, especially for special offers, may even cover 5th and 6th place.
Why do people make each way bets?
Horse racing is very unpredicatable with a lot of variable involved. Each way betting offers some kind of ‘insurance’ for the bettor, so if their horse doesn’t win but comes 2nd to 4th place, they would still receive a portion of their winnings. If their horse does win, then they will receive winnings from not only the horse winning the race but also from the horse coming within 1st to 4th place.
What exactly is an each way bet?
An each way bet actually consists of two bets: the “win” bet and the “place” bet. The win bet is a bet on the horse winning the race and the place bet is a bet on the horse placing; placing is usually between 1st to 4th place, but may be even to 5th or 6th place depending on the bookmaker or if there is a special offer available.
When you place an each way bet, your stake is doubled. For example, if you simply make a standard win bet of £10 then your stake is limited to £10. But if you make an each way of £10, then your stake is double to £20: £10 for the win, and £10 to place.
To place, you horse must finish the race as a runner between 1st to 4th place, or whichever place the bookmaker is offering for that partcular race.
With an each way bet, one of the following outcomes can occur:
- If you horse comes 1st and wins, you will receive winnings from the £10 win bet and winnings from the £10 place bet.
- If you horse comes 2nd to 4th place (or whatver the place offer is), you will lose the £10 win bet but receive winnings from the £10 place bet.
- If your horse finishes the race outside the offered places, then you will simply lose both win and place bets
Each way bets are typically offered on races with enough horses running and the offer can vart depending on the number of horses in the race:
- If there are less than 5 horses, then bookmakers tend not to offer each way bets
- If there are 5-7 horses in the race, then each way tends to cover 1st to 2nd place
- If there are at least 8 horses, then each way tends to cover 1st to 3rd place
- The more horses are in the race, the more places each way bet tend to cover: 1st to 4th place is standard but if even more horses are in the race (for special events or festivals), you may get up to 6th place
We recommend that you should consider each way bets if you are confident that your horse (particularly if your horse is a favourite) will win but want to insure your bet. Favourites win approximately 30% of their races but even if they they don’t win, they have a high probability of finishing as a runner up. We don’t recommend you to consider each bets for horses with long odds, as these horses have not only an unlikely chance of winning but also an unlikely chance of finishing near the runner-up positions.
If you are going to do each way betting, then we recommend that you bet your than your usually stake: so if you typically bet £10 on a standard win, then we recommend that you place £5 each bets which amount to £10 in total, otherwise those higher bets will deplete your bankroll very quickly. Stick to amounts that are managable for your bankroll.