What is Each Way Betting?
When placing your bets on certain sports like horse racing and greyhound racing, you can choose to place your bet as a win bet, or as an each way bet. Each way betting is extremely popular with punters, and this gives you the chance to win a bet without actually backing a winner. This is because an each way bet covers not only the selection to win but for the selection to come within the agreed place terms, which depend on the amount of runners in the event.
Each way betting is also available in other sports, although this is far less common. For example, you cannot place an each way bet on who will win a football game, but you could place an each way bet on a team to win the league, with the place terms being shown and usually covering the first two or three teams in the standings. Many people place bets at the beginning of a season on who will win the league, and each way betting is a good way to cover yourself if you wish to place these kinds of bets.
What is an Each Way Bet?
An each way bet is a bet that places two equal size bets on your selection. The first is for the selection to win, and the second is for the selection to finish within the agreed place terms. Due to an each way bet consisting of two different bets inside of it when you place an each way bet you have to pay double the stake. For example, a £1 each way bet costs you a total of £2 when you are putting it on.
The two parts of an each way bet are known as ‘win’ and ‘place’ and you may hear them referred to as that by people.
What are Standard Horse Racing Each Way Terms
When you place an each way bet on any market, the each way terms for that market will be listed on the page for you to look at. This will tell you the two key things you need to know, which is the number of places that are paid, and the fraction of odds that are paid.
For example, ¼ odds 1,2,3 means that your each way terms are paid on the first three places and they are paid at ¼ of the win odds. Therefore if you back a horse at 12/1 and the horse finishes third, you will be paid out on the place part of your bet at odds of 3/1.
Below you will see the standard each way horse racing terms for every type of race that you will encounter. These are the industry standard used by all bookmakers, although from time to time some bookmakers will offer enhanced place terms, paying better than the below figures and this usually happens on big races where they are trying to attract business, so be sure to watch out for this.
- Handicap of 16 runners or more – 1/4 first 4 Places
- Handicap of 12-15 runners: 1/4 first 3 Places
- Non-Handicap Races of 8 or more runners: 1/5 first 3 places
- Races of 5, 6 and 7 runners: 1/4 first 2 Places
- Races of less than 5 runners: Win Only
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