An Each Way bet has two parts of it, a “win” and a “place”. A winning selection in an Each Way bet means a payout on both parts. If the selection doesn’t win then only the “place” part will be paid out if the selection finishes high enough (say 2nd, 3rd or 4th depending on the event). A loss and the entire bet loses.
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What does Each Way mean in betting?
EW (each way) is a simple type of bet and means that the two options of a Win and a Place are all covered in one bet. That bet though does require an extra stake, because of the two options within it. So a £10 Each Way bet is actually a £20 stake in total.
How does an Each-Way Bet work?
An Each Way bet offers punters a bit of extra coverage on a selection. A selection could either win, or it could qualify for a payout on the place terms.
Place terms are set by the bookmaker and it can vary from event to event. The place terms will set how many places are on offer in the race and at what odds (for example two places at 1/4 odds).
Half of your stake is on the ‘win’ part of the bet, the other on the ‘place’ part. If your Each Way selection wins the race you are paid the full odds on the ‘win’ plus at 1/4 odds (of the original odds) on the ’place’ part of the bet. If the selection only places then you only get 1/4 odds payout from the ‘place’ part of the bet.
|Each Way Example||Win Payout||Place Payout|
What does Each Way mean in horse racing?
Each way in horse racing means a bet that will cover a selection if they happen to win the race, or if they place within designated finishing places.
For example, Alloy Wheelbarrow is running in the Grand National at 20/1 odds. The Place Terms on the National are six places (because it’s a big field of runners) and at 1/4 odds.
You place a £10 Each Way bet (£20 total stake: £10 on the Win, £10 on the Place)
If Alloy Wheelbarrow wins then you will be paid out like this:
£10 x 20/1 odds on the Win = £200
£10 x (20 / 4 – a quarter of the original odds) on the Place = £50
Total return is £270 with stake included
If Alloy Wheelbarrow places in the Grand National
£10 x 20/1 odds on the Win = Lost
£10 x (20 / 4 quarter of the original odds) on the Place = £50
Total return is 60 with stake included
If Alloy Wheelbarrow doesn’t win/place
The entire stake is lost to the bookmaker.
What does Each Way mean in golf?
Each way bets are not exclusive to the likes of horse racing and greyhound racing at all. Far from it. One of the other popular sports it is used on is golf. What does Each Way mean in golf? Exactly the same thing. A bookmaker will set a predetermined number of “places” that a contender can finish in.
For example, Tiger Woods is lining up at the Masters. There is a good chance that he could be in contention for the event, but the field is strong with other top players of course. So you take a £5 Each Way Masters bet on him at 16/1 odds (£10 stake total). If Tiger places then you get whatever odds are offered in the place terms, and if he wins then you get paid on both portions of the bet.
Each way odds
Each way odds are determined by the bookmaker. It will be dependent on the actual event running. The thing you will most commonly see is either 1/4 or 1/5 on place options for horse racing. If the selection either wins or loses, the Place part of the bet will only be paid out at those odds set out in the terms.
EW Terms and betting rules
You may see Each Way terms set out at EW Odds 1/5 1, 2, 3 which means that the bookmaker is paying out on three places (first, second and third) at 1/5 odds.
This is a guide and bookmakers don’t offer these set in stone, but it is a general rule of thumb for places and odds terms. Things like promotions can affect these:
|Number of Runners||Number Of Places||Odds Terms|
|2-4||Win Only||Win Only|
Each way betting system
There are plenty of Each Way betting systems around. A common one is to go Dutch which is backing the top three in a race each with an Each Way bet. There is a high percentage of races (particularly non-handicaps) which are won by a horse in the top three in the betting. You calculate the stake needed for each of those bets so that the payout on each of the three bets will be exactly the same. The goal is to be paid out enough winnings to cover the lost stake on the others, assuming they both lose in a worse-case scenario.