Updated: 2024
- A popular choice for both beginners and seasoned betters because it increases your chances of winning money.
- There are sporting events out there with no clear favourite backed by the bookie and these are obviously much more difficult to predict, and it’s in these situations that the longer odd selections show value even after the EW fraction has been calculated.
- Each way betting can be seen as a low risk, low gain strategy and many bettors use this approach to build up money over a longer period of time.
- The stake you intend to place is doubled and this has tripped up many beginner bettors in the past. If you decide to use the each way strategy then you’ll need to keep your betting balance in mind to offset the double stake factor. In addition to this, some people may not like the look of the odds once the EW fraction has been applied, the potential winnings don’t offer value to those bettors who prefer the bigger risk, bigger gains style of betting.
The art of each way betting has been studied by those who look to gain an increase in their chances of making a profit. Each way bets are mostly used in horse racing but you can find many opportunities to use it in golf, motor racing, greyhound racing, and even golf. Basically, you can place an each-way bet on most sports with multiple competitors. For example, you can’t place an each way bet on a single football match because there are only two competitors. In this guide, we’ll be showing you how the each way bet works, how to calculate the odds and winnings, and also how you can make the most of it to improve your sports betting strategy. After all of this, you’ll be placing those each way bets with confidence and hopefully bringing in a lot more money than before!
How Does Each Way Betting Work?
Each way betting, sometimes displayed as E/W, EW or E W bet, acts as an insurance backstop if your selection doesn’t win, meaning that you will still get money back if your selection finishes in the top positions. So, how does an each way bet work exactly? Well, the bet itself is made up of two individual parts, the Win and the Place. A stake is placed on each part of the bet and this is where some beginners get caught out, typically a £10 each way bet will cost you £20 (2 x £10 stakes for the Win and Place bets). So if you walk up to a betting stall and ask to place a £25 each way bet on ‘Golden Horse” in the Grand National, be prepared to hand over £50 to cover the bet!
To keep things simple, just remember to think of each way bets as two individual bets:
- The Win Bet – If Golden Horse wins, you win money
- The Place Bet – If Golden Horse finishes in the top places stated by the bookie, you win money
Understanding The Each Way Bet
What does each way mean in betting? You’ll come across one or two variations of how the each way bet is displayed but the most common is this: ‘Golden Horse 12/1 EW 1/4 1-2-3-4’. It’s best to split the bet up into three main sections to better understand what is going on here, and this gives you the betting odds (12/1), the number of places (1-2-3-4), and the each way fraction (EW 1/4).
- Betting Odds – The odds on Golden Horse to win the race.
- Number Of Places – The positions Golden Horse can finish in for your ‘Place’ bet to win, in this case, the bet states the top four places.
- Each Way Fraction – The odds of Golden Horse finishing in the top places are more likely so the odds are reduced to a quarter of the original betting odds (this can be 1/5 odds at some bookies).
How to Work Out Each Way Bet Calculations?
Placing an each way bet will leave you in one of three different scenarios depending on where your selection ends up at the end of the race or competition. Working out the calculations of each scenario can leave some people scratching their heads so we thought a few examples would help to explain things more clearly, plus this will show you exactly how much you could win if your each way bet comes in. But first, the three scenarios you might find yourself in:
- Your selection wins and both the Win and Place bets win.
- Your selection doesn’t win but does place (finishes in a top position) will mean losing the first Win bet but winning the second Place bet.
- Your selection doesn’t win or place then you lose both Win and Place bets.
We’ll now talk you through some each way bet calculator examples to work out the potential winnings, and we’ll be using golf and the legendary Tiger Woods for these particular scenarios:
Example 1 – Wins/1st
Each Way Bet: Tiger Woods to win the Masters with £10 at odds of 15/1 EW 1/5 1-2-3-4-5-6
Result: Tiger Woods Wins
Your Scenario: Both bets win
- Bet one on Woods to win – £160 return (£150 profit and £10 stake back)
- Bet two on Woods to place – £40 return (£30 profit and £10 stake back. The 15/1 odds were cut to 3/1 with the EW fraction applied)
- Total Winnings = £200 (inc. stake)
Example 2 – Placed Finish
Each Way Bet: Tiger Woods to win the Masters with £10 at odds of 15/1 EW 1/5 1-2-3-4-5-6
Result: Tiger Woods places 5th
Your Scenario: ‘Win’ bet is lost but ‘Place’ bet will pay out
- Bet one on Woods to win – £0 return (£10 stake lost)
- Bet two on Woods to place – £40 return (£30 profit and £10 stake back. The 15/1 odds were cut to 3/1 with the EW fraction applied)
- Total Winnings = £40 (inc. ‘Place Bet’ stake only)
Example 3 – Finished 7th
Each Way Bet: Tiger Woods to win the Masters with £10 at odds of 15/1 EW 1/5 1-2-3-4-5-6
Result: Tiger Woods places 7th
Your Scenario: Both bets are lost
- Bet one on Woods to win – £0 return (£10 stake lost)
- Bet two on Woods to place – £0 return (£10 stake lost)
- Total Winnings = £0 (both stakes lost)
Advanced Each Way Bet Explained
If you’re looking to boost your odds then you can always try out the multiple each way bets. However, you need to fully understand the foundations of the each way bet for this advanced strategy to make any sense! So, if you’re up to speed with everything so far then we’ll carry on…
Multiple each way bets can only be won if all the ‘Win’ bets are settled and/or all of the ‘Placed’ bets are settled, very much like the accumulator bet. For example, if five out of your six selections come first but the last one places then your ‘Win’ bet is lost and only your ‘Place’ bet will payout, even though you guessed five winners correctly! The same works the other way round, if you predicted five placed bets and one winner, only the ‘Place’ bet would pay out. The point is, you don’t collect bigger winnings if you guess more winners, either they all win or they all place, it’s all or nothing. If only one of your selections fails to place or win then the whole bet is lost.
IMPORTANT DETAIL: If your first selection wins in a multi each way bet, the returns do not serve as the stake for the next selections of the bet.
Multi Each Way Bet Types
- Each Way Double
- Each Way Treble
- Each Way 4 or More
Best Sites For Each Way Bets
All of the major betting sites will offer each way options due to the popularity of this type of bet. As we said before, horse racing will offer the most in-depth each way betting opportunities due to the nature of the sport, but there is also great value to be found in the various golfing and motorsport racing events throughout the year. Using the each way market to back outsiders who are coming into the event in good form can be a profitable and low-risk strategy. If you are patient and use your betting knowledge then the each way bet can help to build your balance over a longer period of time. The great thing is that the ‘Win’ bet is always there if your outsider does happen to come through with the win, so the potential of a big payday is still within your grasp! You’ll find the best odds at some of the biggest UK bookies, online and offline:
Each Way Betting Tips
As you can see, the each way bet is a useful option to have in your betting strategy and it can offer some much-needed insurance for when you’re not 100% on a selection winning outright. However, there are some rules as to when to use this type of bet and when not to use it, which we will explain now:
You should bet each way when…
- Your each way odds are equal to or greater than 4/1 (5.0 decimal) because this means the odds are on your side, giving you peace of mind that your Win bet and overall stake are protected if your selection ends up placing.
- You are unsure about the chances of your selection coming first but you still think they have a good chance of placing somewhere in the top positions.
- You notice high odds on a selection that you know has a good chance of placing in a top position.
You shouldn’t bet each way if…
- The odds of your each way selection are less than 4/1 as there would be no value in placing the bet. If the odds were lower than 4/1 then you would only be reducing your loss potential instead of covering the stake of your ‘Win’ bet.
- You have a strong feeling that your selection will win, sometimes it’s best to go with your instincts and put all your money on one horse coming first.
