{"id":1181,"date":"2023-09-07T09:00:26","date_gmt":"2023-09-07T08:00:26","guid":{"rendered":"https:\/\/oddsmonkey.test.betterbrandagency.com\/?p=1181"},"modified":"2023-09-25T09:32:38","modified_gmt":"2023-09-25T08:32:38","slug":"each-way-betting-work","status":"publish","type":"post","link":"https:\/\/www.oddsmonkey.com\/blog\/matched-betting\/each-way-betting-work\/","title":{"rendered":"What is Each Way Betting and How does it Work?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Each way betting is a popular form of betting, commonly used in horse racing. It is made up of two parts: a win bet and a place bet. The win bet is placed on the horse to finish first, while the place bet is made on the horse to finish in one of the specified positions. This is usually the top 4 or 5 places, depending on the size of race and individual bookmaker.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An each way bet increases your chance of a return, in the case of your horse not winning. If your horse places, the payout won\u2019t be the amount that a win would have brought, but it\u2019s still a return. In order to calculate any potential returns, an <\/span><a href=\"https:\/\/www.oddsmonkey.com\/matched-betting\/calculators\/each-way-bet-calculator\/\"><span style=\"font-weight: 400;\">each way calculator<\/span><\/a><span style=\"font-weight: 400;\"> could be utilised.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The total stake for an each-way bet is double the amount of the individual bet. This means that when you bet \u00a310 each way, you need \u00a320. \u00a310 \u2018each way\u2019 means that you bet \u00a310 on one outcome and \u00a310 on another outcome.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The odds for the place part of the bet are calculated as a fraction of the winning selection odds. OddsMonkey Premium members can use our dedicated tools and <\/span><a href=\"https:\/\/www.oddsmonkey.com\/matched-betting\/calculators\/\"><span style=\"font-weight: 400;\">betting calculators<\/span><\/a><span style=\"font-weight: 400;\"> to work everything out.<\/span><\/p>\n<h2>Which Sports Does Each Way Betting Work On?<\/h2>\n<p><span style=\"font-weight: 400;\">Each way betting is usually found in horse racing. But it can also be done for other sports with racing fields in excess of four runners. This can include tournament-based competitions such as the FIFA World Cup (football), the Masters (golf), Formula 1 (motor racing), greyhound racing and cycling. All of these events provide fantastic each way betting opportunities and some even have their own dedicated <\/span><a href=\"https:\/\/www.oddsmonkey.com\/blog\/sports-betting-guides\/\"><span style=\"font-weight: 400;\">sports betting guides<\/span><\/a><span style=\"font-weight: 400;\"> on site. In fact, any sporting event with multiple competitors will provide clearly defined \u2018places\u2019 for each way betting. However, individual football, boxing, rugby, tennis, snooker and darts matches only provide a winner and a loser and therefore aren\u2019t suitable for each way betting.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Both the number of specified places and the fractional odds applied by the bookmakers depend on the type of race and how many runners there are in the field. Let\u2019s take a look at what that means:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Less than 5 runners: WIN ONLY<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">5-7 runners: 1st &amp; 2nd place @ 1\/4 odds<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">8+ runners: 1st, 2nd &amp; 3rd place @ 1\/5 odds.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Handicaps 12-15 runners: 1st, 2nd &amp; 3rd place @ 1\/4 odds<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Handicaps 15+ runners: 1st, 2nd, 3rd &amp; 4th place @ 1\/4 odds<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Big horse races, such as the Grand National, usually see a lot of novice punters betting each way.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Please note that the terms available differ depending on the bookmaker, sport, competition and market. Always check the T&amp;Cs before placing your each way bet!<\/span><\/p>\n<h2>How To Place An Each Way Bet<\/h2>\n<p><span style=\"font-weight: 400;\">The process of placing an each way bet will differ from bookie to bookie but here\u2019s a general overview.<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Make a selection and decide how much you want to bet each way.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Place a \u2018win\u2019 bet on the horse to finish first.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Make a \u2018place\u2019 bet on the same horse to either win the event OR finish in one of the specified places. This depends on the bookmaker but will probably be 1st, 2nd, 3rd, 4th, 5th.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Remember: each bet MUST be an equivalent stake. For example, a \u00a310 each way bet means your total stake is \u00a320.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The odds on the \u2018place\u2019 part of the bet are calculated as a fraction of the winning selection odds: 1\/2, 1\/3, 1\/4, 1\/5.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The number of specified places and associated fractional odds are dependent on the bookmaker, sport and event. Always make sure you check the T&amp;Cs.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If your selection finishes 1st, both the win and place parts of the bet will return a profit.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If your selection fails to come 1st, the win part of your bet loses\u2026.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">However, if it finishes in one of the specified places, the PLACE part of the bet will give you a return.<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">Unfortunately, if your horse fails to finish in one of the specified places, you won\u2019t receive any returns.<\/span><\/p>\n<h2>What If My Each Way Bet Is A Non Runner?<\/h2>\n<p><span style=\"font-weight: 400;\">If you are unfamiliar you may be asking yourself \u201c<\/span><a href=\"https:\/\/www.oddsmonkey.com\/blog\/matched-betting\/non-runners-horse-racing\/\"><span style=\"font-weight: 400;\">what is a non runner<\/span><\/a><span style=\"font-weight: 400;\">\u201d? Essentially, a non-runner is a horse which is withdrawn from a race prior to the Off.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is important to note that each way bets can be affected by the withdrawal of other horses from a race. If a runner withdraws from the race the chances are that the terms of your bet will alter. For example, in a field of 8 runners, the fractional odds are 1\/5 for 1st, 2nd &amp; 3rd place. If a runner was withdrawn from running, the field would be reduced to just 7 runners. Therefore the fractional odds would reduce to 1\/4 for 1st &amp; 2nd places only.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a field of 5 runners, the fractional odds are 1\/4 for 1st &amp; 2nd place. If a horse became a non-runner, the field would be reduced to just 4 runners. Therefore, your each-way bet would turn into a single \u2018win only\u2019 bet.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">How To Calculate An Each Way Bet<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Let\u2019s take a look at this race at Newmarket as an example:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The selection (Glistened) is a horse priced at 13.0 in a race of 8 runners (1st, 2nd &amp; 3rd place @ 1\/5 odds). A \u00a310 each-way bet would be calculated as follows:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Stake: \u00a310 to WIN @13.0 + \u00a310 to PLACE @3.4 (1\/5 of 13.0)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Total stake: \u00a320 (\u00a310 + \u00a310)<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Outcome 1<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Glistened wins the race.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Both Win and Place bets win resulting in \u00a3144 profit.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Outcome 2<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Glistened finishes the race in 2nd or 3rd place.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Win bet would lose but the Place bet would win resulting in a profit of \u00a314. (This takes into account the lost win bet even though the place bet itself gained a profit of \u00a324)<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Outcome 3<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Glistened finishes the race in 4th \u2013 8th place.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sadly both bets would lose in this instance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, there is a way to minimise the losses associated with traditional betting. You can apply the <\/span><a href=\"https:\/\/www.oddsmonkey.com\/matched-betting\/what-is-matched-betting\/\"><span style=\"font-weight: 400;\">matched betting<\/span><\/a><span style=\"font-weight: 400;\"> strategy when placing your each way bets. When you do each way betting in this way, your qualifying loss is all that is at risk, not the full stake as matched betting covers all possible eventualities.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Calculating Place Odds When Using Odds In Decimal Format<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Decimal odds are pretty straightforward once you get the hang of them. For standard back bets, simply multiply your stake by the decimal odds to calculate your total return (including your stake). Your profit is then your total return \u2013 your stake.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Trying to calculate place odds for each way bets requires a little more understanding. For example: if we back a horse at 11.0 (10\/1 fractional) for \u00a310 each way and the place terms are \u00bc we do not simply divide the decimal odds by 4 to calculate the place odds. We need to deduct 1 from the decimal odds (this is our stake), then divide this by the place terms (4 for \u00bc, 5 for 1\/5) and then finally add back our stake (+1)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For the example above, a horse priced at 11.0 and place terms \u00bc would result in the following:<\/span><\/p>\n<ol>\n<li><span style=\"font-weight: 400;\"> Deduct your stake = 11.0 \u2013 1 = 10.0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Divide by place terms = 10 \/ 4 = 2.5<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Add back your stake = 2.5 + 1 = 3.5<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">The place odds for your each way bet would be 3.5. This is the manual way of doing things, however, all of this can be negated via the <\/span><a href=\"https:\/\/www.oddsmonkey.com\/matched-betting\/calculators\/odds-convertor\/\"><span style=\"font-weight: 400;\">odds converter<\/span><\/a><span style=\"font-weight: 400;\"> tool we also have on site.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But before you get lost in the maths, remember that <\/span><a href=\"https:\/\/www.oddsmonkey.com\/\"><span style=\"font-weight: 400;\">OddsMonkey<\/span><\/a><span style=\"font-weight: 400;\"> Premium members can access our full range of tools and calculators. We have everything you need to maximise your profits when each way betting on horse racing. If you need some more insight into horse racing as a whole, you could potentially take a look at the comprehensive <\/span><a href=\"https:\/\/www.oddsmonkey.com\/blog\/sports-betting-guides\/horse-racing-betting-guide\/\"><span style=\"font-weight: 400;\">horse racing betting guide<\/span><\/a><span style=\"font-weight: 400;\"> on site.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Each way betting is a popular form of betting, commonly used in horse racing. It is made up of two parts: a win bet and a place bet. The win bet is placed on the horse to finish first, while the place bet is made on the horse to finish in one of the specified [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_breakdance_hide_in_design_set":false,"_breakdance_tags":""},"categories":[82,61,83],"tags":[11216],"yst_prominent_words":[763,653,830,642,620,785,692,729,801,706,718,2701,2728,680,665,632,623],"acf":[],"_links":{"self":[{"href":"https:\/\/www.oddsmonkey.com\/blog\/wp-json\/wp\/v2\/posts\/1181"}],"collection":[{"href":"https:\/\/www.oddsmonkey.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oddsmonkey.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oddsmonkey.com\/blog\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oddsmonkey.com\/blog\/wp-json\/wp\/v2\/comments?post=1181"}],"version-history":[{"count":10,"href":"https:\/\/www.oddsmonkey.com\/blog\/wp-json\/wp\/v2\/posts\/1181\/revisions"}],"predecessor-version":[{"id":8061,"href":"https:\/\/www.oddsmonkey.com\/blog\/wp-json\/wp\/v2\/posts\/1181\/revisions\/8061"}],"wp:attachment":[{"href":"https:\/\/www.oddsmonkey.com\/blog\/wp-json\/wp\/v2\/media?parent=1181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oddsmonkey.com\/blog\/wp-json\/wp\/v2\/categories?post=1181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oddsmonkey.com\/blog\/wp-json\/wp\/v2\/tags?post=1181"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.oddsmonkey.com\/blog\/wp-json\/wp\/v2\/yst_prominent_words?post=1181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}