Betting each way is different from the normal win only bet as it gives you more chances to win. In a typical win only bet your horse must win the race for you to get a pay out. The each way bet will payout in some races even if your horse finish 4th.
The each way bet may sound more complicated to understand than a normal win bet, but really it’s pretty simple. When you make an each way bet you are really making two bets! You are making one bet that your horse will win and another that your horse will be placed.
A ‘place’ is when a horse doesn’t win but still finishes in 2nd, 3rd or 4th position, however not all races payout on 3rd or 4th position, it depends on the number of horse running in the race. In a race of between 5 and 7 horses only the horse that finishes 2nd will earn you a payout. In race of 12 to 15 runners you will be payout on 2nd and 3rd positions and on races above 15 runner you get a payout on 2nd, 3rd and 4th positions. There is no each way betting on races with less than 5 runners.
Now remember earlier how I mentioned the each way bet was really two bets rolled into one, a single win bet and a place bet. So when you make a £10 each way bet you will actually pay £20 to the bookmaker! Because you are really having two bets, one £10 bet on the horse to win and one £10 bet on the horse to be placed.
Giving two bets, one £10 bet on the horse to win and one £10 bet on the horse to be placed.
How To Work Out Your Winnings On an Each Way Bet
Working out your winnings on an each way bet is a little trickier than on a single win bet. If the horse you bet on comes first then you win at the full quoted odds on that horse, if your horse is placed you only get a 1/4 of the odds quoted. Lets look a few examples below to see how it works.
The each way examples:
– A £10 each way bet (£5 win, £5 place) at odds of 10/1, if your horse comes first you will win back £50 (£5 x 10/1) and you will get back the £5 portion of the original stake placed on the win part of the bet, but you will not get back the £5 part of the stake which was bet on the place.
– Now the same bet again, but this time your horse comes second and you win £12.50 (£5 x one quarter of 10/1) and you get your £5 place bet return too.
That’s how an each way bet works, bearing in mind the reduction in the percentage of odds for having the horse you bet on come 2nd, 3rd, or 4th makes it unprofitable to bet each way on a horse that is odds of 4/1 or lower.
You can also try our free online bet calculator to work out you winnings. it can work out single win bets, each way bets and accumulators.