The Each-Way Bet Explained
If you’re new to sports betting, it can be daunting to dive head-first into more complicated wagers. While combination bets and high-stakes options are a great way to make things exciting, sometimes you just want to play things a little safer.
That’s where the each-way bet comes in! Each-way bets are a relatively safe way to wager on sporting events. There are still risks involved. However, these bets cover more potential outcomes. This increases your odds of seeing some kinds of return on your money.
Most bookmakers out there will accept each-way bets. You can even use each-way betting to your advantage to reduce the risks of complex combinations better.
While it might sound confusing, the concept behind each-way betting is much simpler than you think. In this guide, we’re going to go over how this wagering option works.
What is an Each-Way Bet?
While many refer to an each-way bet as a single wager, it’s actually comprised of two separate parts. This is an important thing to remember because it will affect your total stakes. We’ll get into that a little later.
Essentially, an each-way bet is a two-part bet that’s comprised of a win bet and a place bet. You’re wagering on the outcome of a single event. The bet has you backing a single selection.
However, instead of wagering on the fact that your selection is only going to win, you’re covering other potential eventualities, too. For the win part, you’re placing money that your selection is going to win first place. With the place part, you’re wagering on your selection at least getting into one of the top spots.
It’s not hard to see why this is considered a safer way to bet. For traditional single bets, your odds are split down the middle. Your selection either wins or they lose. By betting your money on all of the top spots, there’s a greater chance that you will earn some return on your investment.
How Does an Each-Way Bet Work?
These bets are one of the simpler wagers you can place. Things can get more complicated from here, but the same concepts still apply. Let’s take a look at an example.
Say that you’re betting on the outcome of a single racing event. When you place an each-way bet, you’re going to choose the racer you want to back. Let’s say that you’re betting £10. Your total stake is not going to be just £10. Remember, this is a two-part bet packaged into one. £10 is going to be your unit stake. But, your total stake will be £20 to cover both parts of the wager.
The selection you choose is going to be included in both the win part and place part of the bet. So, both parts of the bet have to have an equivalent wager.
Now, the place terms can vary from bookie to bookie. Some bookmakers will require your selection to place in the top three positions to earn a return. Others have more lenient terms that go up to the fourth or fifth place. Oftentimes, the number of places accepted depends on the number of racers involved in the event.
In the event that the race turns into a non-runner, your odds will change dramatically. Non-runner races occur when one of the participants drops out before the event begins. It’s fairly common in horse racing. The win odds on your bet slip will change to reflect non-runners. But, the place terms will not change!
As more racers drop out, your chances of winning go up significantly. That said, there are some situations where the bet changes entirely. Say, for example, that the race was originally planned with eight racers. So, the bookie has place terms up to the fourth place. What happens if four racers drop out and you’re only left with four racers. Obviously, all of the remaining racers could win or place. In these instances, each-way bets turn into one-way “win only” bets.
Variations of the Each-Way Bet
As we mentioned earlier, each-way bets can be used alongside other types of wagers to make things a bit safer. The best way to look at these bets is to think of them as modifiers of sorts. They take an existing bet and increase the chances of seeing a potential return by adding that placing stipulation. Here are some ways that each-ways are used in other scenarios.
Doubles, Trebles, and Accumulators
A double is pretty common in combination bets. Instead of choosing a single selection, you’re going to choose two across different events. So, you might be betting on two races rather than one. To win your bet, both of those selections need to win.
The same concepts apply to trebles and accumulators. With trebles, you’re making three selections from several different events. For accumulators, you’re making four or more choices. There are four-fold accumulators, five-fold accumulators, and so on.
These bets are a bit riskier because they cover specific outcomes of multiple separate events. Turning a traditional double, treble, or accumulator into each-ways increases those odds just a bit. But, it will also double your total stake.
How to Calculate Your Winnings From an Each-Way Bet
Calculating your odds isn’t too difficult. However, there are a lot of factors that come into play. Not only do you need to consider unit stakes, but you also have to think about the odds format. Plus, there are two different parts of the bet to do the math for. While the wagers have equal stakes, your winnings are not equal in value.
Ultimately, your total return is going to depend on factors that are changing all of the time. For this reason, we recommend using an each-way bet calculator. These programs are very easy to use. They update on the fly as you change your inputs, allowing you to stay on top of the event. You can even access these calculators at the event.
Betting Tips: Potential Results Prediction
Figuring out your odds is a bit easier than calculating your potential winnings. Like we said earlier, each-way betting provides you with more ways to win. There’s no better way to understand its benefits than to break down your odds.
Let’s use a horse race as an example. The event you’re wagering on has eight racers in total. The sportsbook you’re working with has place terms up to third place.
The odds of you winning the win bet is easy. You’re making a single horse selection, so your chances are 1 out of 8.
For the place bet, your chances are even greater. To win this bet, your selection has to get into first, second, or third place. It doesn’t matter whether your horse wins second or third place. Your winnings will be just the same. So, we’d lump those places as one. This results in a 1 out of 5 chances of winning.
Why Make an Each-Way Bet?
The biggest reason why you want to place an each-way bet is to simply reduce the risks of your wager. Your odds are automatically increased when you throw those place terms into the mix.
It’s worth noting that there are still no guarantees that you’re going to come out in the green. To come out victorious and earn a profit, your selection must come in first place. If you only win the place part of the bet, you will earn some of your money back. But, it’s not going to be your total stake.
Ultimately, each-way betting is a great way to dive into the world of sports betting while still managing your risks. It’s the perfect first bet to make and can give you a taste of what betting has to offer.
What’s the Difference Between Each-Way Bets and Other Types of Bets?
Each-way bets are often confused with other types of wagers. The most common is a single. Often referred to as a one way bet, singles are your most basic option. It’s a win-only bet, meaning that your selection must take the top spot to win. Obviously, the difference here is that the each-way covers other potential eventualities.
Another common mistake new punters make is referring to the each-way as a double. It’s an easy mistake to make. Each-way bets are two bets built into one. Doubles are a completely different thing. While you are making two selections, a double is still a single wager.
What Sports Work Well with Each-Way Bets?
Each-way bets are a bit unique in the fact that they don’t apply to every scenario. They work best with horse races that have more than one potential outcome. It’s incredibly popular at the Grand National. Though, you’ll see them being used in many types of races. These include basic non-handicap races, handicapped races, endurance racing, jumping events, and more.
With a simple football match, the event can only go one of two ways. There are no “places” to speak of, so the each-way bet doesn’t apply.
That said, these bets can be used with multi-match events. For example, they are very popular for those wagering on the World Cup or Premier League. In these cases, you’d be betting on the entire outcome of the event, not individual matches.
Best Sites to Place an Each-Way Bet On
These days, online bookies are the way to go. Instead of going to a traditional bookmaker, you can do everything online without ever leaving your home. Most bookie sites will accept multiple payment payments and cover every event you could think of. Plus, many offer free bets and other incentives to new members. So, it’s definitely worth checking out if you haven’t gotten into online betting yet.
Here are some good sites to check out:
You don’t have to settle for low odds when you bet. The each-way bet allows you to increase your chances of winning some money back. It’s a great way to play conservatively while still experiencing that thrill you’re after. While you won’t necessarily win a huge payout if your selection wins something other than first place, you can rest easy knowing that you’ll get a modest return.