What is each way betting? That’s a great question, and with this handy betting guide, we’re here to answer it. Each way betting is a two-part bet that is typically placed on horse racing events. The first part of the bet is for the horse to win the race, while the second part is for the horse to finish in a predetermined place, usually second or third. The return on each part of the bet is determined by the odds of the horse and the number of runners in the race.
For example, if a bettor places an each-way bet on a horse at odds of 10/1 and the horse finishes in second place in a race with eight runners, the bettor would win the second part of the bet, which is for the horse to finish in the predetermined place. This win would be equal to a fraction of the odds, usually one-quarter or one-fifth, depending on the number of runners in the race.
Read also: How to read betting odds
How Does Betting Each Way Work?
Each-way betting is a type of bet that allows a punter to place two separate bets on the same event or participant, with each bet covering a different outcome. Here’s how it works:
- Two bets: An each-way bet consists of two separate bets placed on the same event or participant. The first bet is for the participant to win the event (also known as the “win bet”), and the second bet is for the participant to place (also known as the “place bet”).
- Place terms: The terms for the place part of the bet vary between bookmakers, but typically, a participant must finish in a certain position to be considered a “place.” For example, a bookmaker may offer a place bet for the first three finishers in a race or the top half of the finishers in a golf tournament.
- Odds and payouts: The odds for each part of the bet are set by the bookmaker and may be different for the win and place parts of the bet. If a participant wins the event, the punter wins both the win and place bets, but if the participant does not win, the punter can still win the place bet if the participant finishes in the specified place. The payouts for each part of the bet are determined by the odds at the time the bet was placed.
- Stake: The stake for each-way betting is typically split between the two bets, with half of the stake being placed on the win bet and the other half being placed on the place bet. For example, if the stake for an each-way bet is $10, $5 would be placed on the win bet and $5 would be placed on the place bet.
Where can Each Way Bets be Used?
Each-way betting can be implemented in various types of sports and events, including:
- Horse Racing: Each-way betting is commonly used in horse racing, where it allows a punter to place two separate bets on a horse to either win the race or place (finish in a certain position).
- Golf: Betting each way on golf can apply to the top events, where a punter can bet on a player to either win the tournament or place (finish in a certain position).
- Football: Each-way betting can be used in football (soccer) betting, where a punter can bet on a team to either win a match or place (finish in a certain position).
- Tennis: Each-way betting can also be applied to tennis tournaments, where a punter can bet on a player to either win the tournament or place (finish in a certain position).
- Esports: Each-way betting can be applied to various esports bets, such as betting on League of Legends, Dota 2, and Counter-Strike: Global Offensive, where a punter can bet on a team to either win a tournament or place (finish in a certain position).
How to Apply Each Way Bets to Esports Stakes
Applying each way betting to esports works the same way as regular horse betting each way by following the game’s possible outcomes
- Outright winner: An each-way bet can be placed on the outright winner of a tournament or competition. The punter would place a separate bet on their chosen participant to win the tournament and another bet on the participant to reach the podium or top a certain number of finishers.
- Match winner: In a one-on-one match, an each-way bet can be placed on the winner of the match. The punter would place a separate bet on their chosen participant to win the match and another bet on the participant to reach a certain round or score a certain number of points.
- Map winner: In a map-based game, such as Counter-Strike: Global Offensive or Overwatch, an each-way bet can be placed on the winner of a specific map. The punter would place a separate bet on their chosen team or player to win the map and another bet on the team or player to reach a certain round or score a certain number of points.
Continue reading: Get acquainted with more key terms in our Esports Terminology Guide.
Each Way Betting Video Explainer
What are the Benefits of Each Way Betting?
There are several benefits of each-way betting, including:
- Increased chances of winning: Each-way betting increases a punter’s chances of winning, as they are betting on the selection to either win or place. This means that even if the selection doesn’t win, a punter can still win their place bet.
- Reduced risk: Each-way betting allows punters to spread their risk across two bets, reducing the overall risk associated with a single bet.
- Increased value: In some cases, the place odds for an each-way bet may be higher than the win odds, offering punters the opportunity to receive better value for their bet.
- Flexibility: Each-way betting provides punters with the flexibility to bet on a selection to either win or place, allowing them to adjust their betting strategy based on their level of confidence in the selection.
- Variety: Each-way betting is available in a variety of sports, including horse racing, golf, football, tennis, and esports, allowing punters to bet on a range of different events and markets.
It is important to note that each-way betting is subject to the terms and conditions of the bookmaker, and the terms may vary between bookmakers. Some bookmakers may offer different odds for the “win” and “place” parts of the bet, while others may offer the same odds for both parts. It is also worth noting that some bookmakers may not offer each-way betting on esports events. So, that ultimately answers the question, ‘what is each way betting?’
To learn more about being more profitable in your wagers, check out our handy betting guides.