What is an Each Way Bet? - Each Way Betting Explained
Each way betting is a popular punting method used by bettors at the best betting sites.
An each way bet is essentially made up of two bets. Half of your stake goes on a selection to win, while the other half goes on your pick to place.
The following guide covers everything you need to know about each way betting, including strategy tips and the best bookmakers for each way betting terms.
What Does Each Way Mean in Betting?
As we mentioned above, an each way bet consists of two bets of equal cost.
- A win bet on your selection to win an event
- A place bet on your selection to finish within a certain number of places, which can vary depending on the market you're backing and which bookie you're betting with (new betting sites often have more generous terms)
The two bets will cost the same amount, so a €5 each-way bet requires a total stake of €10. The odds for the place bet are a fraction of the odds for the win bet (because it is more likely to succeed).
Horse racing punters will often use this bet type to secure profits from long-odds selections, but each way betting is popular across a variety of other sports too, including golf, greyhounds and F1 betting.
Read More: Compare top Grand National Odds for the 2023 Aintree showpiece
How Much Do You Win on an Each Way Bet?
Let's have a look at an example to illustrate this.
Imagine you make a €5 each way bet on Honeysuckle to win the Grand National at odds of 10/1 - with places 1-2-3-4 offering a fifth of the win odds, so 2/1.
Honeysuckle finishes third, so you take home €15.
Let's break that down:
- The first €5 win bet loses because the horse doesn't finish first
- The second €5 place bet wins because the horse finished third - which is one of the each way places on offer
- The 10/1 odds become 2/1 due to the each way terms in this case (one fifth of the win odds)
- This means the €5 stake wins at 2/1, which returns €10
- You also receive the €5 stake back, meaning you take home €15 in total
Now let’s say Honeysuckle wins the race. This would mean you win both each way bets.
- The 10/1 odds on the €5 stake to win would return €55 (€50 profit and €5 stake)
- You would also win the place bet, which as explained above, would equal €15
- So, in total, your winnings would be €70 (including both returning stakes)
If Honeysuckle finished sixth in the race, outside the each way places, neither bet would win, so you’d lose both €5 stakes for a €10 loss in total.
Pro Tip: Check out Grand National free bets when betting on this race
How Many Places Are Paid in an Each Way Bet?
The number of places that pay out for each way bets will vary from bookmaker to bookmaker. The figure is usually outlined where the market is listed. You’ll see the each way bet terms alongside the place odds.
In horse racing betting, the minimum number of each way places is offered based on the size of the field, with more places offered for bigger races. You’ll usually be offered placings up to fourth or fifth for fields of 16 or more, three places for races of eight runners or more, two for 5-7 and none for 1-4.
Bookies may offer more than the standard number of each way places or more generous each way fractions on selected races as a promotion for existing customers.
But we advise bettors to search around for the best possible each way betting odds - especially when it comes to high-profile races like the Grand National and Cheltenham Gold Cup, where you’ll see bookies fighting to compete for custom. The top bookies will offer extra each way places and other promos like free bets.
At Gambling.com, we review and list the bookies with the best promos. You can check out our guide to Cheltenham offers, for example, to find the bookmakers with the best Cheltenham deals.
Furthermore, we have reviewed some of the best betting sites for each-way terms below, so read on to claim a bonus from one of these top each way bookies.
Read More: Get the very best 2023 Cheltenham Festival Odds
The Top Each Way Betting Sites
Our online betting experts have road-tested all of the best each way betting sites so you don't have to sink time and money into trial and error.
Having thoroughly tested the the main runners and riders, we've ranked and reviewed the best each way betting sites, so you can easily find the best place for each way betting.
Read More: Get the very best Gold Cup Odds for the 2023 Cheltenham Festival
Each Way Betting at Tote
The Tote offers both win and place bets to racing and football bettors.
So, rather than placing a traditional each-way bet, you can place the same sum on win and place markets, which is effectively the same thing.
The reason we rank this bookmaker so highly is because of the placepot feature, where you can win big cash sums by correctly predicting six horses to place in races 1-6 of selected race cards.
You can place a win bet on any race with two or more runners, but a place bet requires at least five. The minimum total stake for a win/place bet is 50p.
- For 5-7 runners your selection must finish 1st or 2nd
- For 8-15 runners your selection must finish 1st, 2nd, or 3rd
- For non-handicap races with 16 or more runners, your selection must finish 1st, 2nd or 3rd
- For handicap races with 16 or more runners, your selection must finish 1st, 2nd, 3rd or 4th
Each Way Betting at LeoVegas Sport
LeoVegas Sport offers each way betting on horse racing markets such as the Cheltenham Gold Cup, Royal Ascot and the Grand National, as well as football markets like the World Cup and Champions League.
Horse races with a large number of runners, such as the Grand National, may offer four places paid, while sports with a podium for the top three competitors, like motorsports or athletics, pay out three each way places.
LeoVegas also offers each-way accumulators, as well as a handy bet builder feature in case you fancy placing some same-game multis.
In an each way acca, the win part of the bet remains the same as a typical accumulator, while the place part requires all the selections in the accumulator to place in order for it to win. The each way fraction is applied in the same way to each selection.
Why Should I Bet Each Way? - Pros & Cons
Each way betting is popular with punters because it increases chances of winning and opens up more betting possibilities across the field.
In sporting events like horse racing and golf, there are occasions where every selection is valued at relatively long odds.
In these markets, it’s a lot harder to predict who'll win an event but long odds make each way bets worthwhile, even after the fraction has been applied, if you have a strong fancy.
In spite of this, some consider each way betting to be a lower risk, lower gain - and therefore negative - approach to betting.
Quick Each Way Betting Tips
An each way bet is perfect if you are betting on a big tournament like the Masters in golf.
You could, for example, identify a golfer at value odds who you think could come close to winning, but might just be edged out into the places.
Similarly, if you think an international team at the World Cup is looking particularly good, but you’re not convinced they'll win the whole tournament, then an each-way bet would provide a return if they finished as runners-up. It's worth noting that most bookmakers also offer other great World Cup betting offers throughout the tournament.
When it comes to horse racing, studying the form is always helpful. You can find all the previous results a runner has achieved and where, which will allow you to identify value in the placings and make savvy each way bets.
Most Popular Sports For Betting Each Way
As we’ve mentioned already, each way betting is most common in horse racing and greyhounds, as well as sports with a big field of competitors, such as golf.
You can’t make each way bets on the outcomes of individual football matches, but the best football betting sites do accept bets on tournaments such as the World Cup, European Championship, Premier League and Champions League.
Each Way Betting on Horse Racing
Each way betting is very popular at horse racing betting sites.
An each way bet on the horses allows punters to cash in on runners whether they win or place second, third, fourth or sometimes fifth/sixth.
Without each way betting, horse racing markets would be limited, so it’s a great way of allowing punters to make more predictions on a race.
The biggest events in the horse racing calendar will attract thousands of each way bets.
Each Way Betting on Greyhound Racing
Each way betting is also very popular at greyhound betting sites.
Like horse racing, this is another sport where it really pays to have place positions available to punters.
In a conventional six-dog race, bookies pay out for the first two home.
Each Way Betting on Golf
As we've already touched on, each way betting is very popular with regular golf punters.
Each way golf betting allows you to extract value on golfers that don’t win the tournament outright, but provide a challenge and finish in one of the top five or so placings.
Many of the best golf betting sites offer up to 12 each-way places when the four majors roll around, with the likes of BoyleSports regularly delivering 12 places for The Masters, The Open, US Open and PGA Championship.
What is an Each Way Bet Calculator?
An each way bet calculator is a helpful tool that allows you to easily understand how much you could win on a successful each way bet. They're popular because they provide an instant and accurate estimation of the returns on an each way bet. This saves you time and eradicates any potential errors from calculating it yourself.
You can find each way bet calculators at many the best bookmakers and betting apps. Just Google the phrase and select a suitable response.
Each Way Betting: Key Takeaways
By now, you should know how, where and when to place each way bets. This could be a great addition to your overall betting strategy if it's not something you've tried before - just remember to do your research before betting.
Also make sure that you are betting with the sites that provide the best each way odds, the widest range of markets and the most extra each-way places. A selection of these top bookies are highlighted below for your convenience and there are free bets available when you sign up.
Recommended Betting Sites
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