How Does Each Way Betting Work? The Ultimate Guide
Betting options at the best UK betting sites can provide lots of entertainment, but they can also overwhelm inexperienced punters. The array of options includes each way bets — an exciting and rewarding wagering category.
Yet, many punters are not quite sure how each way betting works. That’s why they place bets automatically, which is never a good idea. To avoid betting only on luck, you should learn more about each way wagers.
Our guide covers every aspect of this topic, so let’s dive deeper into one of the most popular betting options with UK bookmakers.
Six Quick Facts About Each Way Betting:
- Each way betting is the most popular type of betting on the Grand National.
- Each way bets consist of two independent wagers — to place and to win.
- Both parts of each way bets require equal stakes.
- Place terms determine how many positions will provide a payback.
- The odds on place positions pay as a fraction of the win bet (½, ⅓, and so on).
- Punters can place each way bets as multi bets.
The two primary types of bets in UK betting houses are straight and exotic. As their names imply, these betting options differ in simplicity. Straight wagers are straightforward and often require only one selection, while exotic bets combine several markets and events.
Each way betting stands somewhere in the middle, borrowing features from both sides. Here’s how it behaves in action.
What Is Each Way Betting and How Does It Work?
Unlike straight bets, each way betting combines two wagers. This duality is the essential characteristic of each way bets, but it’s far from being the only one.
The first of those bets is to win, while the second one is to place. Thus, we could say that each way betting is a step up from straight bets. Instead of wagering on only one outcome, two scenarios can give a return.
According to each way betting rules, you’ll win a bet if the selection finishes first or places. Finishing in the top three or four contenders means to end up placed. The so-called place terms can vary, depending on the size of the event.
Later on, we’ll explain in detail the importance of checking the place terms before wagering. For now, punters must understand that each way bet comprises two wagers and requires a double stake. For instance, if you opt for each way betting on Grand National, you’ll have to place twice the stake you would typically wager on a straight bet.
That’s the negative side of each way betting. But on a positive note, you’ll increase your winning odds by placing such a bet. Precisely, each-way betting allows your selection to win, but it can also cross the finish line with the first five runners.
Speaking of the event at Aintree, we should now check how each way betting affects betting on horses.
What Does Each Way Betting Mean in Betting on Horses?
Undoubtedly, each way betting is the most popular in the horse racing betting community. No matter if you want to bet on a high-profile event or a smaller race, each way wagers should be on the menu.
The wagering process on the best UK betting sites provides effortless placement of each way bets. All you need to do is add the selection to the bet slip and check the EW box. By doing so, the type of wager will change, and the software will ask you to double the stake.
So, what is each way betting in horse racing? It’s a betting method that lets you back a horse with longer odds without risking too much. If the selection does not win, it could still end the race as a high finisher, giving you a return on the bet.
When you have 40 runners at the starting gate, predicting the champion can be tricky. For that reason, each way wagers can act as a safety net for horse racing betting.
What Does Each Way Betting Mean in Betting on Football?
Although EW bets are common in horse racing betting, most bookmakers also offer these betting options on football. Yet, individual football fixtures are not suitable for each-way betting. Conversely, leagues and cups are ideal for EW wagering because you can determine the first few finishing ‘places’.
The same way they show how many horses you need for an each way bet, the place terms on football will tell you how many positions are covered by the betting option. Typically, bookmakers include the second or third position in the place terms, depending on the competition.
As such, each way betting on football offers a broader range of possibilities than 1×2 markets. For instance, EW bets are perfect for backing a big-priced outsider in a cup competition, such as the FA Cup or even high-profile European cups. If a lower-division club reaches the final, your bet could still give a return even if the team loses the big match.
How to Work Out Each Way Betting Odds?
In general, each way betting increases the odds of winning the bet and minimises the risks of losing your investments. Yet, this oversimplification hides a few details, including the fact that each way bets don’t have the highest odds you’ll find on a betting site.
Primarily, the odds on the wager’s place part are only a fraction of the amount you could win with a straightforward single bet. Therefore, you can expect to see the following odds: ½, ⅓, or ¼. It all depends on the number of runners, i.e., participants in the competition.
So, what odds do you get on an each way bet? This element depends on various factors. The number of runners and the horse’s form play a part in determining the odds. Nonetheless, punters should never turn to each way betting if the selection’s odds are lower than 5.00 (or 4/1). In such a case, you would not generate a profit on the place part of the bet.
Either way, every betting site provides odds calculators that can help you compare the odds and find favourable betting opportunities.
The Benefits and Drawbacks of Each Way Betting
Now that you know how each way betting works, it’s clear that EW bets come with several pros and cons.
As expected, many punters shy away from each way betting because of its low profitability. Although EW betting includes two wagers, the returns on the place part are not the highest.
On the other hand, each way bets provide insurance to punters who wish to back a selection with longer odds. This safety net can help you get a return even if the horse doesn’t win or your favourite football club loses the final.