In each-way betting, you bet on two outcomes in the same event or race: a win bet and a place bet. It is a popular strategy in horse racing, where predicting the winners is always tricky.
In this guide, I will explain the fundamentals of each-way betting and provide a few elementary strategies and tips for gaining the maximum advantage from each-way bets, including how to read win odds as part of your each way betting strategies.
Each-Way Betting Explained
Each-way (E/W) is a popular form of betting in horse racing: you simply bet on a given horse to win or to place. Betting to ‘place’ means for the horse to finish in one of the top positions. Some bookies offer 3, others 4 positions.
Horse racing is a fast-paced, highly unpredictable sport. Betting on a straight winner is always a nail-biting experience. With each-way, your bet wins if your selection wins or finishes 2nd, 3rd, 4th, or even 5th place. Naturally, the payout for the ‘place’ market will be smaller, paying out a fifth or a quarter of the moneyline market.
You can see if each-way betting is available by looking for the E/W or EW symbol. Next to it, the card will show the number of places applicable to the place wager. Some bookies also show the place odds (⅕ or ¼).
How Each-Way Betting Works with Examples
If you’re completely new to this market, looking at an example might make it easier to understand how an each way bet works.
First, pick an upcoming race and choose your preferred horse, also known as the ‘win part’ of the bet. Tap the selection, and it should appear in your bet slip, from where you can select the each-way (E/W) option. Some bookies allow you to place an E/W bet straight from the race card. A ‘Win/Each-Way’ button or tab should be visible on the screen, alongside the number of places within which the horse must finish for the place bet to win.
Note, however, that the size of your stake applies to both markets. For instance, if you bet £15 each way, you need £30, as you bet £15 on the horse to win, and as much to place in one of the predetermined positions. Both are still just one bet.
You can see your potential payout on the bet receipt once the bookie locks your bet. If your horse wins, you get paid at moneyline odds. If the horse ends up 2nd or 3rd (sometimes up to 5 places are eligible), the bookie will pay at ⅕ of the moneyline odds. So, if the odds to win are 5/1 (+500 American, 6.00 decimal), the place odds would be about 1/1 (+100 American, 2.00 decimal).
How to Bet Each Way
Regardless of the online bookmaker, placing an E/W bet can be done with a few clicks/taps on your screen.
- Step 1: Open a betting account (if you haven’t already) at one of our recommended bookies and place a deposit
- Step 2: Open the racebook and select a race
- Step 3: You should see a checkbox labelled E/W. Select this box. Bookies usually show the number of places you are betting for the horse/greyhound to finish. You can see in the image below the bookmaker, bet365, offers the horse in the first 3 places for the bet to be a winner.
- Step 4: After you tick the E/W box, enter your stake amount in the relevant field
- Step 5: Tap the designated button to confirm the bet, in this case, the Place Bet button
Lots of bookmakers pay out if your horse finishes in the top for big races such as the Grand National, so keep an eye out for the most generous places when a big race rolls around.
Each-Way Betting Tips
There is no such thing as a perfect bet or a wining betting strategy that guarantees a profit. There are, however, bets that combined with the right strategy and insight will lead to more educated predictions. Here are a few tips and guides worth considering when you bet each-way.
- Conduct basic research – Don’t bet blindly on the horse with the funniest name. UK bookies usually offer some pre-race statistics on form and performance that will give you valuable insight into riders and help you make better predictions.
- Use an E/W Calculator – Having a positive return is the basis of all bets, including each way. An E/W calculator will quickly crunch the numbers to give you the potential payout relevant to your stake and odds price so you can quickly see the value of your bet and potential gain.
- Place small stakes – E/W is, in a way, an insurance bet, but it’s still risky in races with 12, 15, or more runners. Start betting small at first and test several E/W betting methods to work out a feasible strategy.
- Look for large-field races, but be careful – Races with 12-15, 16, or more runners usually pay ¼ of the moneyline odds for the place side of the each-way bet, offering a slightly better price compared to small-field events. However, the more runners, the more contested the race, the greater the risk.
- Accumulator E/W bets are risky and costly – Remember that if you place an accumulator composed entirely of E/W bets you will need to stake a larger amount of money. For example, a 4-leg E/W accumulator where you bet £10 per leg will require a £80 total bet. This is because a single E/W bet of £10 is actually a £20 bet: £10 for the runner to win and £10 to place. In addition to the higher stake, if one leg of your acca loses, the entire bet is lost.
- Concerning Rule 4 – Rule 4 in horse racing applies to horses withdrawn from the race. If, for instance, a horse is withdrawn after you place your bet, and the horse you backed wins or places, your payout will be smaller.
How to Win an Each-Way Bet
E/W betting is by default a low-risk market. It effectively increases your chances of winning by adding one of several other outcomes in addition to the win market. If your horse wins or places in the first 3 or 4 positions, you win your bet. So, there is no point in placing an E/W bet on a short priced favourite.
That said, you can improve your chances of winning further with the ‘Each Way Extra’ feature. Most bookies you see on our website have this option. It is the same as an each-way market, except it allows you to add or remove places for the horse to finish.
For instance, a bookie may set the number of places for the horse to finish in an E/W market to 3. An Each Way Extra allows you to increase the number of places to 4 (or 5), or reduce it from 3 (or 4) to 2 (or 3).
Adding an extra place raises the probability of winning but at the cost of reducing the odds, effectively generating a lower payout. Removing places will pay out at a higher price, but also makes the bet riskier.
Is Each-Way a Good Betting Strategy?
By all parameters, E/W is a safer market than most as it includes multiple possible winning outcomes and helps you win bets. It is also a flexible market. You can place E/W singles or accumulators or combine each-way bets with other markets from different sports rather than just forming an E/W-only accumulator (unless this is specifically prohibited).
Here’s a list of the pros and cons of E/W betting. It’s yours to decide if the benefits outweigh the disadvantages.
Pros
- E/W bets offer insurance if your rider doesn’t win, but still finishes in the top 3-4 spots
- You can bet on each-way singles or create accumulators
- The place part of the E/W bet allows you to break even or even earn a small profit
- Each-Way Extra option can further raise your chances of winning the place bet
- Races with 12 or more runners offer longer E/W odds due to the broader field of runners
- Some bookies also offer E/W odds for sports other than horse or greyhound racing
Cons
- The stake amount is doubled as you pay for the two bets. A £5 bet, for instance, requires a £10 total stake
- Adding places with the Each-Way Extra feature reduces the odds
- Reduced payout in the event of a dead heat
- Lower payout if Rule 4 applies
Another strategy you may want to consider is the Paroli Betting System. This system won’t suit every bettor, but if used properly, it can be very effective.
When to Avoid Each-Way Betting
We have detailed some excellent each-way betting strategies above, but there are times you should stay away from placing an each-way bet. You can’t bet each-way when there are less than five runners in a race. Although there is an each-way option for up to seven places, sometimes even more with some bookies, we wouldn’t advise you to bet each-way if there are only two places on offer. This doesn’t provide great value, and is certainly a scenario that you should avoid.
We also wouldn’t recommend betting each-way when the odds are low. For example, there is no point in having an each-way bet on a 6/4 price. If you want to find good value for your each way bets, a good place to start would be the Betfair Exchange. This will help you identify the ‘bad’ each-way value and how can make long-term profits from an each-way betting strategy.
Best Sports For Each-Way Betting
Each-way markets can apply to any sport that features a wide field of contestants. From its sister sport greyhound racing, to football.
For instance, each-way bets in greyhounds follow the same principle as E/W bets in horse racing: you back a dog to win or finish in one of the top positions.
Major golf tournaments like the PGA Tour feature well over 100 contestants throughout the season and regularly provide each-way odds for a long lineup of contenders.
E/W markets can also apply in major football tournaments. For instance, in the European Championship, you can make outright bets on a given national team to win the Euros or finish second.
