When placing an each way bet it’s not always clear what your return is going to be. With an each way bet we are actually placing 2 separate bets. 1 bet on the win and 1 bet on the place. Let’s use a horse race as an example. If our horse wins, we win both the win part and the place part. If the horse only places, we lose the win part but win the place part. You can easily use our horse racing calculator to find out how the odds will affect your returns.
Essentially, you give yourself two chances to win from the same selection, one with predominantly higher odds, but one more likely to actually win. These bets are usually placed on a horse who has the ability and potential to win, but is not the favourite for the race, meaning the odds are somewhat higher than the favourite’s will be. Placing an each way bet on this horse would cover it having an incredible race and winning, and also cover it performing but not beating the favourite. You essentially place a safety net around your win bet and catch a small profit if you still see your horse finish in a worthy position.
Betting Each Way Example
Let’s say you are preparing to watch the Grand National, and you have looked at the odds for some outright bets. You scanned the market, and after some consideration, you backed Tiger Roll to win the Grand National.
You used our horse racing calculator at OddsMonkey, and then placed a £5 each way bet at odds of 10/1. That means a total stake of £10, £5 on the win and £5 on the place. With each way bets, your stake is always doubled, as you are technically backing two different scenarios within the same bet. You will receive a larger payout if the actual Win side of the bet is a winner, but you will still receive some payout if only the Place side is a winner.
For each way bets, there are a few variables that can change how the odds are set. The main variable is how many horses are participating in the race. If there are more horses, the each way bet will cover more places and be more lenient with how you can win.
In this example, the bookie is paying 6 places and the terms are 1/5. This means if the horse comes in positions 2-6, you will win a bet at odds of 3.00 (2/1), as this is one-fifth of the original 10/1 odds. You can either win £50 profit from a Win, or £10 profit from the Place bet.
Now, the competition has finished, and Tiger Roll wins the National. You will be excited to check your results and will notice that both parts of your bet have won. You will be paid as follows.
Win: £5 with odds of 10/1. This pays £55 – £50 in profit and your £5 stake returned.
Place: 10 divided by 5 is 2/1, so the Place bet pays £5 at a price of 2/1, returning £15 – £10 profit and your £5 stake returned.
Total Return: The Win (£55) plus the Place (£15) equals a total return of £70 from £10 staked, giving £60 profit in total.
If your horse finished in places 2nd
When placing an each way bet it’s not always clear what your return is going to be. With an each way bet we are actually placing 2 separate bets. 1 bet on the win and 1 bet on the place. Let’s use a horse race as an example. If our horse wins, we win both the win part and the place part. If the horse only places, we lose the win part but win the place part. You can easily use our horse racing calculator to find out how the odds will affect your returns.
Essentially, you give yourself two chances to win from the same selection, one with predominantly higher odds, but one more likely to actually win. These bets are usually placed on a horse who has the ability and potential to win, but is not the favourite for the race, meaning the odds are somewhat higher than the favourite’s will be. Placing an each way bet on this horse would cover it having an incredible race and winning, and also cover it performing but not beating the favourite. You essentially place a safety net around your win bet and catch a small profit if you still see your horse finish in a worthy position.
Betting Each Way Example
Let’s say you are preparing to watch the Grand National, and you have looked at the odds for some outright bets. You scanned the market, and after some consideration, you backed Tiger Roll to win the Grand National.
You used our horse racing calculator at OddsMonkey, and then placed a £5 each way bet at odds of 10/1. That means a total stake of £10, £5 on the win and £5 on the place. With each way bets, your stake is always doubled, as you are technically backing two different scenarios within the same bet. You will receive a larger payout if the actual Win side of the bet is a winner, but you will still receive some payout if only the Place side is a winner.
For each way bets, there are a few variables that can change how the odds are set. The main variable is how many horses are participating in the race. If there are more horses, the each way bet will cover more places and be more lenient with how you can win.
In this example, the bookie is paying 6 places and the terms are 1/5. This means if the horse comes in positions 2-6, you will win a bet at odds of 3.00 (2/1), as this is one-fifth of the original 10/1 odds. You can either win £50 profit from a Win, or £10 profit from the Place bet.
Now, the competition has finished, and Tiger Roll wins the National. You will be excited to check your results and will notice that both parts of your bet have won. You will be paid as follows.
Win: £5 with odds of 10/1. This pays £55 – £50 in profit and your £5 stake returned.
Place: 10 divided by 5 is 2/1, so the Place bet pays £5 at a price of 2/1, returning £15 – £10 profit and your £5 stake returned.
Total Return: The Win (£55) plus the Place (£15) equals a total return of £70 from £10 staked, giving £60 profit in total.
If your horse finished in places 2nd to 6th then you just get the place returns of £15, while the Win part of the bet would not give any returns.
Why Bet Each Way?
You may wonder what each way betting means? Simply put, this is a way to hedge your bets. Betting on the win alone is great but there’s less chance of a return. We have a much greater chance of a return by betting each way because we get a payout if our horse places. If the odds are high enough, then we can still make a profit even if the horse only places.
These bets are especially good when a horse is priced higher than you expected, and you think the horse could put up a good fight during the race. There have been many examples of horses priced incredibly higher that have ended up winning or finishing Top 3 within a race. Acklam Express was a horse priced at 200/1 during one of its races at the Royal Ascot, and this race was paying 1/4 changed odds for the each way market. This meant that if the horse placed, you would still see a return of 50/1 on your bet.
Acklam Express went on to finish 3rd in the race, beating some horses priced as low as 3/1 during the race. This was one of the largest upsets at the Royal Ascot and could have won some people some serious money! If you’d have used our each way horse racing calculator to see that the odds were still 50/1 for a place bet; this would have actually covered Acklam Express to finish anywhere in the top 4!
How To Use Our Each Way Bet Calculator
The each way bet calculator available on the OddsMonkey site is very easy to use. Simply enter your stake (which will be multiplied by 2 for the total stake), choose the format you wish to enter your odds in, whether it’s Fractional, Decimal or American. The next step is choosing the ‘Place Term’, which is the odds the bookies are offering for the Horse placing rather than winning. Enter the odds, and then look at the Total Return and Total Profit.
What’s more, we also offer a collection of other calculators depending on the types of bets you will be placing. By using the accumulator calculator or the matched betting calculator, you can easily determine the odds that your bets will have, allowing you to determine the best stakes for these specific bets.
to 6th then you just get the place returns of £15, while the Win part of the bet would not give any returns.
Why Bet Each Way?
You may wonder what each way betting means? Simply put, this is a way to hedge your bets. Betting on the win alone is great but there’s less chance of a return. We have a much greater chance of a return by betting each way because we get a payout if our horse places. If the odds are high enough, then we can still make a profit even if the horse only places.
These bets are especially good when a horse is priced higher than you expected, and you think the horse could put up a good fight during the race. There have been many examples of horses priced incredibly higher that have ended up winning or finishing Top 3 within a race. Acklam Express was a horse priced at 200/1 during one of its races at the Royal Ascot, and this race was paying 1/4 changed odds for the each way market. This meant that if the horse placed, you would still see a return of 50/1 on your bet.
Acklam Express went on to finish 3rd in the race, beating some horses priced as low as 3/1 during the race. This was one of the largest upsets at the Royal Ascot and could have won some people some serious money! If you’d have used our each way horse racing calculator to see that the odds were still 50/1 for a place bet; this would have actually covered Acklam Express to finish anywhere in the top 4!
How To Use Our Each Way Bet Calculator
The each way bet calculator available on the OddsMonkey site is very easy to use. Simply enter your stake (which will be multiplied by 2 for the total stake), choose the format you wish to enter your odds in, whether it’s Fractional, Decimal or American. The next step is choosing the ‘Place Term’, which is the odds the bookies are offering for the Horse placing rather than winning. Enter the odds, and then look at the Total Return and Total Profit.
What’s more, we also offer a collection of other calculators depending on the types of bets you will be placing. By using the accumulator calculator or the matched betting calculator, you can easily determine the odds that your bets will have, allowing you to determine the best stakes for these specific bets.
