What Is an Each-Way Bet?
Contents
Each-way betting (EW or E/W) is one of the most popular betting types, especially in horse racing, or any other sport with players or teams finishing in various places. It is usually used by bettors as a form of insurance in case they lose by a narrow margin.
An each-way bet consists of two parts. The first one is a win bet which you place on a team, player, or horse to win. The second one is a place bet which is on the team, player, horse, athlete, etc to place, for example, finish in the top three.
How Much Can You Get?
An each-way bet is not just a single bet where you predict one result to occur and take away all the awarded prizes when winning. As explained above, there are two bets involved, one is the win bet and the other is the place bet. So, if you manage to guess the winner right, you get your earnings for both the win and place bets. However, if you fail to predict the winner, the place bet might come to your rescue. So, if you are betting with Rs 100 on predicting a particular event to occur in a certain sport, then, you are investing Rs 50 in the win bet, while the other Rs 50 will go to the place bet.
In each-way betting, you can even bet on an entire tournament if there are no rounds or laps or similar aspects in a particular sport. Football and basketball are two such examples. You could bet on the team that you think will win which becomes the win bet and you can bet on the place they finish in which becomes your place bet.
For example, the odds for a team XYZ winning the trophy in a particular tournament are placed at 15/2. The odds for the same team to finish in the top three are 1/3. If you decide to bet Rs 100, then Rs 50 would go into the win bet in favour of team XYZ winning and the other Rs 50 would go into the place bet put on the team XYZ to finish in the top three.
How Is Each-Way Multi Bet Payout Calculated?
Before speaking about the calculation of a payout for an each-way multi bet, it is necessary to get to know what each-way multi bet is all about. Each-way multi bet is a betting type with bets placed in multiple rounds. For instance, in horse racing or relays, there are various laps. So, the bet is placed in each of those rounds. Any amount won in the previous round is carried forward to the next one and the bet is placed again. So, if you win both win and place bets, the entire amount is carried over to the next lap or next round. An each-way multi bet succeeds if you manage to make a profit from either the win bet or the place bet or both of these bets.
Take a look at the following example to understand how each-way multi bet works and how the earnings are carried forward.
| Stake | Win bet | Place bet | Result | Win Return | Plce Return | Bet value | |
| Leg 1 | Rs 20 | Rs 5 | Rs 2 | 1st | Rs 10 x Rs 5 = Rs 50 | Rs 10 x Rs 2 = Rs 20 | Rs 50 + Rs 20 = Rs 70 |
| Leg 2 | Rs 70 | Rs 2.5 | Rs 1.5 | 2nd | nil | Rs 35 x Rs 1.5 = Rs 52.5 | Rs 0 + Rs 52.5 = Rs 52.5 |
| Leg 3 | Rs 52.5 | Rs 9 | Rs 3 | 3rd | nil | Rs 26.25 x Rs 3 = Rs 78.75 | Rs 0 + Rs 78.75 = Rs 78.75 |
| Bet Result | Total Winnings = Rs 78.75 |
Which Sports Can Each-Way Betting Be Used In?
Horse racing is one of the most popular sports for each-way betting. There are various kinds of bets involved – be it a single-lap each-way bet, each-way multi bet or even the overall-winners each-way bet. In fact, experienced bettors can even bet on multiple horses.
Apart from horse racing, other sports that each-way betting can be used in are football, basketball, golf and Formula 1 racing. These are sports which largely have multiple rounds, halves or laps or those that have an entire tournament (like the FIFA World Cup or the Masters in golf) where teams or even players for that matter have a definite finishing position. It is a little difficult to imagine placing each-way bets in sports like cricket which is largely bilateral, but each-way betting can be introduced for multi-team tournaments or T20 leagues around the world.
Sports like rugby, snooker, tennis and boxing also provide each-way bets. However, in them, only the win bet is taken into account and there is no place bet. Hence, in almost every sport, there is a different market for each-way betting and each of them have their own terms and conditions as to how the things are done.
Largely, each-way betting is more preferred in sports with more than four competitors. However, bookmarkers can sometimes tweak rules and odds to accommodate different sports. In fact, those odds and bets depend on the number of runners and the type of race. For instance, if there are less than five runners, there will be no place bet with win bet being the only one available. If there are about 5 to 8 runners or racers, alongside the win bet, only the first and second place are available to make place bets. Meanwhile, if there are more than 8 competitors, along with the usual win bet, there are place bets for the teams or players finishing in the top three (first, second and third).
Each-Way Betting Strategy
When it comes to the strategy of each-way betting, it needs quite a bit of discipline, a factor that plays here even a bigger role than most other components. If you are a beginner, you are bound to make mistakes, hence, luck plays a decisive role. However, once you place more and more bets and grow in experience, the luck factor slowly diminishes and the expected value starts showing up a lot more than your initial few bets.
There are a lot of strategies on how to go about each-way betting and how much you should bet. However, it’s always safe to start low and slow. If you are a newcomer, do not start off being overambitious in hope to become rich in no time. It could work against you and prove to be a massive loss. Needless to say, you might end up being bankrupt instead of making any profit. It is advised against betting with a very big amount of money. Hence, it is important to start with small investments, increasing them as you get more experience.
Say, if your bankroll for each-way betting is about Rs 1000, start with Rs 1 or 2 which will then be split between the win and place bets. Moreover, do not even think about profits after the first few bets. It is important to get experience first and once you are confident, only then can you start tinkering with your investments and profits.
When You Should and Shouldn’t Bet Each Way
There are a few instances when you should bet each way and there are times you need to avoid each-way betting as well. It is important to pay attention to the bets and odds as to when they rise and drop. Accordingly, you need to place your bets for both, the win bet and place bet.
One of the most opportune and optimal moments to place an each-way bet is when your pick or the event you want to bet on has odds of 5.0 or more. It is said that if that is the case, then the odds will be stacked in your favour. You may not be the most favourite candidate to win the each-way bet, but in a sports betting market, there is hardly a moment you will find a favourite to win a race or a tournament placed at odds of 5.0 or more. You may not win as well but you at least might have it covered with your place bet. Hence, placing bets when the odds are exactly 5.0 or more might be an insurance for your win bet and it covers your total stake as well if you get the result in your favour (win bet or place bet).
On the contrary, you should not bet each way when the odds or bets are priced at less than 5.0. It basically would mean you minimising your potential loss instead of covering up for your investment.
Each-Way Betting from Start to Finish
- First and foremost, decide on the amount you want to invest to bet each way. Remember, in each-way betting, there are two bets you need to place and hence, an appropriate amount needs to be decided.
- Remember, each of your bets – a win bet and a place bet – will have an equal stake (or investment). You cannot have different amounts for different kinds of bets.
- Decide on the team, player, horse or car (depending on the sport) who you think will finish in the top and win the entire competition.
- You need to make another bet and hence, decide on the place bet. Bet on a particular horse, team, player or car (it can the same as your win bet choice) who you think will finish in one of the specified places like first, second, third, fourth etc.
- The odds of a place bet for a particular team or player or horse finishing in a specific place will be calculated based on the fraction of that particular team or player or horse winning the event.
- The number of places specified for the place bet will purely depend on the bookmarker and it will vary accordingly.
- If your pick or choice finishes first or ends up winning the entire event, then you will receive profits for both, the win and place bets.
- If your pick doesn’t end up first or win the event but finishes in the specified place, you will make a profit from the place bet.
- If your pick or choice doesn’t end up winning or even finishing in any of the specified places, you will lose your whole stake.
Conclusion
In each-way betting, you have the opportunity to place your stake in a couple of areas. Even if you lose out on the big winning goal, you could win the second one and still make some money. In case your pick wins the entire event or ends up first, you get double the benefit as you not only win your win bet but also take home the profits from your place bet. In each-way betting, there are three things you need to be aware of and those are the betting odds, the number of places for the place bet and the each-way fraction. 4rabet.come provides a completely different experience when it comes to each-way betting and it has some exclusive offers as well.
