When you place a bet with an online betting website, you can choose between a win bet or an each-way bet. An each-way bet is essentially two bets: one on the horse to win, and the other on the horse to place. This means that the horse needs to either win or place for you to receive a return. Many punters use both win and each-way betting strategies depending on the race and their personal system, and over time, you’ll develop your own betting style that you feel comfortable with.
Betting each way on horse racing is quite simple and is something that almost every horse racing fan does. However, calculating returns can be a bit tricky due to the fractional odds used. If you’re unsure about your potential returns, there are plenty of online betting calculators that can help you.
Understanding Each Way Terms
The terms for each-way bets differ depending on the number of runners in a race and whether the race is a handicap or not. Handicap races generally offer better each-way terms. The table below outlines the standard terms:
- Non-Handicap Races: 2-4 runners: Win only | 5-7 runners: 1/4 odds for 2 places | 8+ runners: 1/5 odds for 3 places
- Handicap Races: 2-4 runners: Win only | 5-7 runners: 1/4 odds for 2 places | 8-11 runners: 1/5 odds for 3 places | 12-15 runners: 1/4 odds for 3 places | 16+ runners: 1/4 odds for 4 places
When placing an each-way bet, you are making two bets: one for the horse to win and one for the horse to place. As a result, your stake is doubled. For example, a £1 each-way bet will cost you £2. If your horse wins, you’ll be paid out on both the win and the place parts of the bet, but if the horse only places, you’ll receive a return on the place part only, according to the odds and terms listed above.
Example of a Winning Bet
Let’s say you place a £2 each-way bet at odds of 10/1 in a 10-runner race. Here’s how your returns would work:
- £2 win at 10/1 = £22 return
- £2 placed at 1/5 odds of 10/1 (2/1) = £6 return
- Total return: £28
Example of a Placed Bet
If you place the same £2 each-way bet at 10/1 in a 6-runner race, but the horse only places, your returns would look like this:
- £2 win at 10/1 = £0 return (since the horse didn’t win)
- £2 placed at 1/4 odds of 10/1 (5/2) = £7 return
- Total return: £7
These each-way terms are known as standard terms, and bookmakers are required to offer them as a minimum. However, some bookmakers may offer slightly better terms to attract more customers. For example, they might offer 1/4 odds instead of 1/5 on big races or pay out five places instead of four in a large-field handicap race.
The Grand National is a perfect example of this. Although standard each-way terms would pay 1/4 odds on the first four places, many bookmakers extend the offer to pay out on five or even six places during the Grand National. This practice has become common as bookmakers compete for business, and it’s a great bonus for punters who regularly bet each way. Finding bookmakers that consistently offer better each-way terms is something every bettor should do when opening new accounts.
When Should You Bet Each Way?
Deciding when to bet each way is something every punter considers, and opinions vary widely. **The best approach is to read different strategies, weigh the pros and cons, and decide on a method that works for you**. You can follow a system you’ve found, adapt parts of various systems, or create something entirely new. Whatever you choose, make sure to give it time to prove itself, even if you experience a few bad results early on.
Personally, I’ve developed my own each-way betting system over the years. I bet win-only on horses with single-figure odds and place each-way bets on horses with double-figure odds. There is one exception to this: if I’m betting in a race where the favourite is odds-on, I’ll lower the odds I’m willing to back each way. In these cases, I often back a horse as a “bet to nothing,” hoping it will place behind the favourite. I typically back anything 5/1 or higher each way in this situation, resulting in either a no-loss scenario or a small profit if the horse places.
To determine the best system for you, **review your recent betting history**. If you don’t already keep records, look at your betting account history and write down all the bets you’ve placed, their odds, and the returns you received. Then, experiment by comparing your results to various systems. For example, look at what your returns would have been if you had bet each way instead of win-only, or if you had followed my system.
When I tested my system, I found that backing double-figure odds each way and the rest to win gave me the best profit. Although I lost out when a horse placed at 8/1 that I had backed to win, the profits from the winners at similar odds far outweighed those losses in the long run.
Making the Most of Each Way Betting
Each-way betting can be a profitable strategy if used correctly, but it’s important to know when to bet each way and when to stick to win-only bets. **Create a plan, stick to it, and maintain your discipline**, even when results don’t immediately go your way. For those new to each-way betting, start by familiarizing yourself with the different each-way terms and when they apply. Once you understand the terms and know how to calculate your potential returns, you’ll be well on your way to mastering each-way betting and using it effectively.
