What Does Each-Way Betting Mean?
Modern betting sites offer a wealth of betting options, with new types of wagers appearing from time to time. If you are new to the game, the array of options can overwhelm you and lead you into making rash decisions. For instance, many bettors are not sure what does each-way betting mean. And yet, they bet on this market, risking their hard-earned money without getting much in return.
To avoid such a scenario, go through our in-depth guide and learn all there is to know about each-way bets. You can thank us later.
Eight Quick Facts About Each-Way Betting
- An each-way bet comprises two separate wagers.
- Two wagers in an each-way bet require double the stake of a single unit.
- The win part of an each-way bet means that the selection must finish first.
- The place part of an each-way bet means that the selection must finish placed, i.e. within the first three (or even four or five).
- The odds on the place bet are a fraction of odds on the win bet (½, ⅓, ¼, or ⅕).
- Bookmakers sometimes offer extra places, expanding the positions up to the 4th or 5th horse in the race.
- Each-way multi bets are a series of each-way bets stretching over several races/events.
- Each-way betting is available on various sports besides horse racing, including football, darts, golf, and snooker.
Finding the perfect bet can be challenging with so many betting options on the menu. Of course, we all want to place wagers that are as profitable as possible, maximising the returns. But the unpredictable nature of sporting events makes accurate predictions difficult.
For instance, the win bet on horses is straightforward and easy to place, but your odds of predicting the winner are slim. Well, that’s where each-way betting steps onto the scene.
What Does Each-Way Mean in Betting?
As the name implies, each-way bets let the outcome go both ways. In other words, they offer two possibilities within a single wager, improving your chances significantly.
Nowadays, each-way betting is a standard option at UK betting sites. Both new and old bookmakers offer these bets, predominantly on horse racing. You’ll also find each-way betting markets on snooker, golf, Formula 1, and high-profile football tournaments.
So, what is each-way betting and can it help you win? Later on, we’ll explain how it works and what makes these wagers so unique. In essence, the key thing to remember is that each-way bets expand the odds and let you predict two outcomes simultaneously. Sounds complicated? Don’t worry; we’ll guide you through each-way betting options in a step-by-step manner, explaining every aspect in detail.
How Does Each-Way Betting Work?
We already said that each-way bets are the most frequent in horse racing betting. Nonetheless, these betting methods can appear in every event or a competition where you have a winner alongside several contenders ranked from 2 to 5 or higher.
The reason lies in each-way bets’ premise that this wagering option combines the so-called win bet with a placed bet. In case you are not familiar with the term ‘placed,’ we’ve got you covered. In horse racing, any horse that does not win the race but finishes as second, third, or fourth ends up in a place position. You’ll also need to know a thing or two about selecting the right horse to bet on.
Let’s quote an example now and better explain what does each-way betting mean. It is a bet comprising a win and place wager with two independent selections. Thus, an each-way option requires double the stake of a single unit. If the bookie has a £1 limit on single wagers, you will have to stake at least £2 for an each-way bet (£1 for the win part and £1 for the place part). Note how the amounts for both segments of the wager are equal.
Each-Way Betting: Rules and Requirements
Although each-way options are more complicated than straight wagers, you’ll need to consider only a handful of elements when settling an each-way bet.
First, bettors should pay attention to ‘place terms.’ In other words, punters should check how many places in a race will provide a payout. For instance, races with 5-7 runners only offer two positions, meaning your selected horse must either win or finish second.
On the other hand, you’ll get a complete understanding of what does each-way mean when betting on massive events such as the Grand National. Thanks to the width of the track, the event at Aintree can hold up to 40 runners. As a result, place terms at the best UK betting sites for the Grand National include five positions. So, to give a return on the bet, your horse must either win or finish within the first five horses.
How To Place an Each-Way Bet
Now that you know what does betting each-way mean, we should move on to the actual wagering process. Unlike most other betting types, each-way bets do not follow the standard procedure.
Once you find a suitable betting site and select the event you want to wager on, add the selection to your bet slip. Then tick the EW box on the betting slip to activate the option for each-way betting. The software will switch the bet type to an each-way wager automatically and request a double stake.
By now, you should have explained to yourself how each-way betting works. These wagers are the most popular in horse racing, but you’ll find them in other sports as well. Each-way bets are ideal for backing a horse/team at reduced odds with extra insurance.
For that reason, the critics say that each-way betting acts as a safety net and a psychological crutch. Yet, most players who know what does each-way betting mean would not agree with such a statement. Each-way bets are far from being a sucker bet, and they are not a cowardly move either. On the contrary, the tiny EW box can be an excellent way of minimising the risk. So, if you are into ‘low risk, low returns’ betting, each-way bets could be right up your alley.
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