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Richard Miller
Author:
Richard Miller
Last Updated:
July 15, 2021
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This author was thoroughly tested and approved by the experts at BettingBilly.com before joining the editorial board to ensure a high content quality.
Author Bio:
 
Richard was Marketing Manager at a global bookmaker and worked in the enterntainment sector for decades before working his way up in the world of entrepreneurs. His focus areas are mainly in the fields of sports and politics. He has a Science Degree, visited Harvard University and is now our hardworking Editor-in-Chief at BettingBilly.
Richard was Marketing Manager at a global bookmaker and worked in the enterntainment sector for decades before working his way up in the world of entrepreneurs. His focus areas are mainly in the fields of sports and politics. He has a Science Degree, visited Harvard University and is now our hardworking Editor-in-Chief at BettingBilly.

Each Way Bet Explained In 2021

 Each way bet is a popular wagering type among the bettors’ population. However, many of them still don’t know each way betting rules, and therefore, not utilizing this betting type enough. If you are looking for betting advice, we are bringing you each way bet explained so that you can implement it in your gambling strategy. Check out this guide, especially if you love horse racing, and you can improve your chances of getting profits.

What is an Each way bet?

Thanks to each-way betting, you can increase your chances of winning your wager. The basic principle of this betting type is spreading your total stake into two bets. The first one is also known as a “win” bet, while the second is called a “place” bet. But what does it mean? We will help you learn these terms quickly.

A “win” bet, as its name says, is related to the selection of a winner of the contest. This part shouldn’t be complicated at all. On the other hand, a “place” bet means that your pick will finish the competition within a predetermined number of positions. But, let’s get deeper into this part.

It is essential to state out that each part of the wager has an equal stake. If either part of each-way bet proves to be a winner, then you will get some returns. In case your selection wins the competition, both “win” and “place” bets payout. However, if your pick is not the first in the contest, but finishes in “place” positions, a “place” portion of your wager will bring you some returns.

A bookmaker is an entity that determines the number of “place” positions. That number may vary from one sportsbook to another, or from one contest to another. Before placing the each-way bet, it is always recommended to check the number of places that are offered. In theory, more places should be provided when there are more contesters in a given event. Of course, each way odds for a “place” wager are lower in comparison to a “win” wager odds. If you are wondering how you can calculate your potential returns, don’t worry, we’ll walk you through an example later.

Types of Each way bet

Each way bet is not necessarily linked to single wagering. You can also place a double each way bet, or even build an accumulator with four or more selections. Let’s see how you can combine each-way bets and utilize different each way bet types.

Each way double is a bet of two double wagers – a “win” double, and a “place” double. If both your selections celebrate, then both portions of your each-way double playout. On the other hand, if one of your picks wins, while the other manages to place, then only a “place” double will bring you returns. In this case, the “win” element is void.

Each way treble also consists of two bets. The first one is a “win” treble, while the second wager is a “place” treble. In case one of your selections manages to be placed, while the other two wins, then you will get returns from the “place” element of the each-way bet. For getting profits from a “win” element, all three picks need to finish first the contest.

You can build each-way accumulators as well, and the same principle applies to this type as well. So, your accumulator would consist of a “win” acca and a “place” acca. Remember, for getting returns from a “win” portion of an each-way accumulator, all your picks need to celebrate in the competition. If at least one of them finishes in places, then only a “place” component of a wager will payout.

Placing an Each way bet: Step-by-Step

If you have never placed an each-way bet before, we are going to walk you through all steps. The process is not much different from placing any type of wager, so this one should also be straightforward.

Steps Box Background
  1. Choose your favorite bookie: If you haven’t done it so far, check out the most popular bookies on the market.
  2. Create an online account: After you have selected the sportsbook, sign up for an online account. Make sure that you deposit some amount so you can place your wagers.
  3. Find and add picks to the bet slip: Select the sport and the competition you want to place your each-way bet on. Find your pick and click on the odds related to it. Check out the bet slip. You should choose the “Each-Way” option, usually by ticking a checkbox.
  4. Enter your stake: That amount will be allocated to both bets, so the total stake of your each-way bet is going to be a double amount of the amount entered.
  5. Click the Place Bet button: You are now just a click away from placing your first each-way bet. After you hit the button, you can enjoy watching selected events and cheering your selections.
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Usual sports for placing an Each way bet

Since this betting type increases your chances of getting profits, it is prevalent in horse racing. Each way bet is an excellent choice for any sport that involves racing of four or more contesters. As we have already mentioned, the number of places depends on the number of participants in the race. If there are less than five contesters, then a bookmaker will probably just accept a “win” bet. In races of five to seven runners, a sportsbook will usually give two places. However, if the number of participants is at least eight, there will be at least three places offered as well. In case there are more than 11 runners, a sportsbook might include handicaps and offer at least three places.

An each-way bet is available in other sports as well. You can place this type of wager on golf, Formula 1, greyhound racing, and even cycling. Soccer lovers can get the most out of this betting type by placing bets on their favorite teams in tournament-based competitions. FIFA World Cup is an excellent opportunity to back your national team. In general, any sporting event from which we can clearly define places is suitable for this kind of bet.

Examples for Each way bet

We have spoken a lot about the theory, but how can you apply an each-way bet in practice? The following example should help you see what a “win” wager and “place” wager terms mean. We are going to use a horse racing event as an example of both winning and losing bets.

Winning example of Each way bet

You have decided to back your favorite horse at the Kentucky Derby. The horse is priced at +1200 by a bookie, and you feel it can win the race. However, just in case you want to place an each-way bet in case it narrowly misses the chance to finish at the 1st place.

So, you place $5 each way on your favorite horse. The bookmaker pays the top three places at a quarter of the winner odds, in this case, +325. Remember, you will spend a total of $10 since $5 will be staked to both “win” and “place” bets. For a detailed calculation of your potential returns, check out the table below.

 Win PartPlace Part
Odds+1300+325
Stake$5$5
Total$65$21.25

Let’s consider two different cases.

The horse you have backed finishes first! Both parts of your each-way bet should payout, so besides the “win” part, you should also get the “place” part. It makes sense since the horse has finished in the top three places by winning the race. Therefore, your total payout should be $65 + $21.25 = $86.25, and you ended up with $76.25 profit.

In the second case, the horse you have backed finishes third. Then, the “win” part of your wager loses. However, you will get the payout from the “place” part. So, you should get a $21.25 payout, which leads you to $11.25 in profit.

Losing example of Each way bet

We will use the same example as above. You have backed your favorite horse, but it turns out that it finishes in 5th place. Obviously, the “win” part of a bet loses. Since the horse hasn’t finished the race in the top three, you lose the “place” part as well. Therefore, you cannot expect any payout from this wager.

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Each way bet for beginners: How to bet

If you are about to explore each-way bets, then you should also check out some useful advice. You can find many tips online, but we are bringing the most useful ones at your fingertips.

  1. Search for boosted odds: You should be able to find increased odds at some bookmakers every day. Thanks to them, you can find high-value wagers and get the most out of your each-way bets
  2. Make the optimal mix of odds: If you are chasing considerable returns, you won’t get high payouts by backing favorites only. On the other hand, long shots are risky, and they can quickly turn out to be a waste of money. However, if you balance your selections, and combine short-priced and long priced horses, you may end up with excellent profits.
  3. Check the professional picks: No matter how confident you are in your selections, it is always recommended to check opinions from professional tipsters. Wander where you can find them? It’s easy, sign up to Billy’s List for free, and you will have access to lots of pro picks.
  4. Take care of the number of bets per race: Be mindful of the number of participants. If you are thinking about backing more than one runner in a single contest, it is recommended that you should limit the number of your selections between two and four.
  5. Try out each-way multiples: Take advantage of different each-way bet types and boost your potential returns. You won’t be successful every time, but they can get you significant profits in case of a winner.

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Each way bet for professionals: How to bet

Before taking some serious action for each-way betting, you should set up your bankroll first. Professional bettors usually allocate a certain amount of money only for gambling purposes. It is the money you can afford to lose, and that loss shouldn’t have any impact on your livelihood whatsoever.

The each-way odds at +400 or higher are in your favor, and you should consider backing that selection. In case your pick finishes in a predefined number of places, then you should count on some returns from the bet. If your preference is less priced, then you should reconsider the choice. It won’t bring you a big payout, but you can quickly end up with losses.

However, finding a market favorite at this price is very hard, almost impossible. Therefore, you shouldn’t focus just on the favorites, but the ones who can pull out an upset as well. If you have a feeling that your pick is capable of finishing at one of the places, you should go with that bet. In case it turns out to be a winner, you may collect significant profits. Also, if you are about to back an underdog, but still have a good feeling about it, you should go with that bet.

Each way bet: Try it now at one of the top 5 betting sites

In this guide, you have an each-way bet fully explained. Now, you are ready to try it out in practice. Nowadays, there are lots of top-quality sportsbooks in the betting market. Find the one that suits you the most and register an online account. Load some money on it and make your selections. Apply the advice from this article and enjoy your enhanced betting experience!

 
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Conclusion: Increased chance of winning
Bettors sometimes underestimate each way bet, but now, when you learned everything about it, you can apply it to your gambling experience. This betting type is perfect for racing sports, especially horse racing and tournament-based competitions as well. If your selection makes it to one of the top spots, but fail to win, you can still count on some profits. Get the most out of it, and enjoy your returns!
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