Each Way Betting – What Is it and How to Do it?

Considered to be a “combination wager” like the accumulator, each way betting mainly consists of two separate bets – a “win” bet, and a placement bet. Due to the nature of “each way”, this type of wager is commonly offered in horse racing markets. Although “the win” market cannot be changed by the bookie, the placement wager can be modified to affect only first and second place. If the sportsbook is covering a large enough event, they might even allow a placement bet up to “fourth” place. Each way stakes are also popular in football!

each way betting examples

Example – How Does Each Way Work?

The first thing that should be mentioned is that each way bets will require a double wager (as the punter places money on two separate markets). Here is an example – a football team “A” has decimal odds of 3.5 to win the league cup. They also have 2.1 odds to end in one of the first three places. If a bettor wagers $10 for them to win, they will also have to bet $10 on the team to place. If they win (and naturally place), theoretically the return from the first bet would be 10 multiplied by 3.5, which will equal $35, which will be added to the winnings of the second bet – $21. In total, a successful each way bet would net a $56 profit on a $20 stake. Here is the benefit of using each way – even if the team doesn’t win but still reaches one of the first three places, the punter would still win $21. Each way does provide a “second chance” to score some benefits, even if the team doesn’t win.

What to Watch out for in Each Way Betting

Although it is good to have a second bet that would at least return the original bet, punters often follow the “each way markets” with a calculating eye. The difference in the odds is what helps punters determine if such a wager would be worth it or not. By taking the previous example, we can explain it like this: if the placing odds have a value of 1.9 and football team “A” only manages to place, the punter’s return would be $19 – which translates into a $1 loss. It is important to calculate your “second chance”, as to see if you would benefit, break-even, or be at a loss before you place an “each way” bet. Find where you can find the best licensed platforms for it.

each way betting combinations and pros and cons

The Disadvantages of This Type of Betting

Many bookies realize that the second chance in each way betting is still a win for many players, and this is why the odds for “placing” wouldn’t be too favourable. Another limitation punters should be aware of is the period in which the event is being held. For example, if you’ve made an each way bet on a horse racing event, you will know till the end of the day how your stake turned out; however, if you’ve wagered it on a team that plays in a league, you won’t know until the entire championship has concluded.

A Favourite Combination Bet of Punters Everywhere

Each way betting has been around for quite a while, and it won’t go away any time soon. It is medium-risk and provides moderate rewards. Bear in mind that some sportsbooks might require a minimum betting amount for participation, but it isn’t something that would be considered steep. While in some cases combining an “each way” with other types of bets is made possible, bookies tend to allow it as a part of “exotic wagers”; however, the best way to try it is to play it safe, and keep it separate from other stakes!