Each-Way Betting refers to a wager made in two parts: one for the selection to win and the other for the selection to place. This type of bet is common in horse racing but can also be used in other sports. Essentially, you’re hedging your bets by placing a wager on a participant not only to win but also to finish in a specified number of top positions.
For example, if you place an each-way bet on a horse in a race, you’re betting both on that horse to win and for it to finish in one of the top positions (usually 1st, 2nd, or 3rd, but this can vary).
FAQs:
What happens if my selection wins in an Each-Way bet?
If your selection wins, both parts of your each-way bet are successful. You will receive a payout for the win part of your bet at the full odds, and the place part of your bet will be settled at a fraction of the win odds, depending on the terms offered by the bookmaker.
How is the ‘place’ part of an Each-Way bet calculated?
The place part of an each-way bet is usually calculated at a fraction of the win odds. This fraction can differ but is often 1/4 or 1/5 of the win odds. For instance, if a horse’s win odds are 10/1 and the place terms are 1/4, a successful place bet will pay out at 10/4, or 2.5/1.
Can I make an Each-Way bet on any sport?
While each-way betting is most commonly associated with horse racing, it’s possible to place each-way bets on other sports, particularly in events with a large field of participants. For instance, each-way bets might be available in golf tournaments for a golfer to finish in the top 5 or 10 positions.
What happens if my selection only places and doesn’t win?
If your selection only places and doesn’t win, the win part of your bet is lost. However, the place part of your bet is successful and will pay out at the specified fraction of the win odds.
Is the stake for an Each-Way bet double the amount of a standard bet?
Yes, because an each-way bet consists of two separate bets (win and place), your stake is effectively doubled. If you wish to stake $10 each way on a horse, you’re actually placing $10 on it to win and another $10 on it to place, for a total stake of $20.
