In betting, the word "each way" refers to a wager that is divided into two parts: a win bet and a place bet to ultimately mitigate your potential losses. The pick must win or finish first in the event in order for the win portion of the wager to pay out. Whilst more common for bets on horse racing, there are plenty of scenarios and events where an each way bet will be beneficial. Our article will guide you through everything you need to know about each-way bets.

The pick must either win or finish in one of the predefined places for the event, such as first or second place, for the place half of the wager to pay off. The win portion of the wager will be paid in full, but the place portion of the bet will be computed at a fraction of the odds - commonly 1/4 or 1/5. The trade-off is that you have a better probability of potential winnings in exchange for a smaller reward. A domestic football knockout competition (such as the FA Cup), for example, may have stated place conditions of 12, whereas a small horse race with 5-7 runners may only pay out on places 1,2 and possibly 3. Each way bet types can also be applied in horse racing where they odds are classified as SP.

A big type of race like the National, the "place" is set by the Jockey Club and depends on the size of the field (that is, how many horses are running in horse racing terms), which could easily have 12-15 runners. On a big race like the Grand National, the "place" may be just 1st and 2nd, 1st 2nd and 3rd, or even 1st 2nd 3rd or 4th, and may pay 14 or 15 the odds.

How do you make an each-way bet?

There are three things to keep in mind while placing an each-way wager. The odds for the win element of your each-way bet govern the odds for the place part of your each-way bet (together with the each-way fractions).

Each-way places: These inform you where your selection must finish in order to win your place bet. The locations available may vary. Find out more about this in the sections below.

Each-way fractions: Because your pick has a better probability of placing than winning, the odds on the place element of your each-way wager are a fraction of the win odds.

Once you're aware of these elements, you can place an each-way wager by ticking the each-way (EW) box on your betting site's betslip. For an each-way bet, keep in mind that your investment is twice.

How many places pay out in an each-way?

The number of places paid for each-way bets is determined at the discretion of your bookmaker and is stated when the market is posted. Along with the place odds, it is part of the each-way terms (see below). Based on the size of the field in the race, a recognised minimum number of each-way places is available in horse racing betting.

Is an each-way bet worth making?

The amount of places paid for each-way bets is determined by your bookmaker. Some situations make each-way bet stakes more worthwhile than others. If you're attempting to decide whether to wager each-way or win only, consider the following two questions:

• What the potential return?
• How likely is an on-the nose win?

Can I make an each-way accumulator?

You can indeed place an each-way accumulator, except that your initial stake is twice to cover the win and place bets, just as with singles. An each-way accumulator (or Acca) combines the betting odds on each horse to win into an overall combined price in the same way a traditional accumulator works.

Simply go to your chosen reputable bookmaker and pick the wagers you want to include in your accumulator. Make sure to check the box next to your stake that says "E/W" before you put your wager on your favourite horses. To cover the win and place bets, ticking that option will also double your stake, so if you input £2.50, you will actually be betting £5.

Each-way bet examples?

The example below shows 1/5 of the quoted odds for an each-way bet where your horse placed 2nd, 3rd, 4th, (5th or 6th selected bookmakers only). Your stake is also returned.

A £5 each-way bet at odds of 25/1 yields a return of £25

A £5 each-way bet at odds of 40/1 yields a return of £40

A £5 each-way bet at odds of 50/1 yields a return of £50

Each-way bets in other sports

Each-way bets are available on most sports such as greyhound racing and golf. The larger fields of teams or athletes, the more likely you are to receive an offer of more spots. A golf tournament is an example where bookies will pay out each way bets to the top six players. However, as the event approaches, this number can be increased to at least ten. Most golf competitions have good odds on even the very best players due to the size of the field, so an each-way golf bet on Tiger Woods for example, would still yield big potential returns.

This is a great chance to back a golfer who you believe will come close to winning but will be pushed into the places. The same may be said for major football competitions. Even if you think a team will win the World Cup or the Euros, an each-way bet will protect you if they come in second. Just keep in mind that each-way bets on football competitions only involve the winner or runner-up.

Are each-way bets popular?

As advised above, each-way bets are extremely popular type of bet depending on the sport. For example, betting trends suggest the most popular sport for each-way betting is horse racing events because the bet protects any horse selection finishing in the first four places, it's simple to see why most people choose this form of gamble on the National. This is the same for the majority of the racing calendar across the year. Each way bet types are also popular in golf betting as the field is usually very large.

Is there an each-way calculator?

It's not always evident what your return will be when you place an each-way bet. We are basically putting two separate wagers when we place an each way bet. One bet on the winner and one bet on the finish. As an example, consider a horse race. If our horse wins, we take home both the first and second place prizes. We lose the win component but gain the place part if the horse just places. Check out the Outplayed each-way calculator to work out your potential betting returns on each way bets. Check out our bet calculator page for more help.

That's about all the information you need to know on each-way betting.

Read about hedge betting calculator and what is lay betting

 Also read about What is Matched Betting and Arbitrage Betting

Interested in Getting Started Matched Betting?

You can start learning for free with our free trial

Alternatively, upgrade to our Platinum Membership here