Each way betting is popular in horse racing markets. However, it can also be used when wagering on other outright selections. This could include betting on a team to win the English Premier League or picking the victor of the F1 Driver’s Championship. With an each way bet, punters will be awarded at a fraction of the original odds, should their selection ‘place’.
In this guide, we cover everything related to each way betting, including what it is, how each way bets work, and when punters could consider using them when sports betting online!
What is an Each Way Bet?
An each way bet splits your stake across two separate wagers: one for your selection to win and another for it to place.
This betting style adds another chance to win, should your selection finish in the top positions without winning outright. The total cost doubles your stake because you pay for both parts – for example, a £1 each way bet costs £2 in total.
Each way betting appears most commonly in horse racing and greyhound racing markets. However, it can also be found in outright betting markets for the likes of:
- Football
- Rugby
- Formula 1
- Tennis
- Cricket
- Cycling
- and Many Others!
The place portion of your bet pays out at reduced odds, typically a fraction of the win odds. These will vary by race or market depending on the field size, for example, some horses that finish 5th or 7th in larger races may be covered by an each way bet.
Potential winnings depend on both the odds and where the selection finishes. This makes each way bets ideal for backing runners at longer odds where an outright win might seem less likely but a top-four finish remains possible.
How Does an Each Way Bet Work?
An each way bet splits your stake across two equal parts. One half backs your pick to win, while the other backs it to finish in a place position.
Win Bet Component
The win part of an each way bet is straightforward: You place money on a horse to finish first in the race. This makes up half of your total stake in an each way bet. If your horse crosses the line first, you are awarded both the win and place portions of your bet.
For example, a £1 each-way bet at odds of 40/1 would award £40 plus your £1 stake back, totalling £41 just from the win part alone. Many punters enjoy this aspect of each way betting at the racecourse, as it doesn’t completely negate the odds of an outright win.
Place Bet Component
The place part of an each way bet focuses on your horse or chosen selection finishing in one of the top positions, not just first place. Typically, this will cover 2nd and 3rd, with BetVictor also offering extra places on some of the biggest races throughout the year, such as the Aintree Grand National.
If your horse or selection finishes in one of the specified top spots but doesn’t win, this part of the wager will still be awarded. As for the potential winnings, this is based on the rules for that specific race. Using the Grand National as an example, we offer 1/4 of the odds on 4 places during this race. This means that a £1 bet on a horse with 40/1 odds would award £11, should it place first, second, third, or fourth.
Each Way Betting vs Win-Only Betting
Now that we’ve looked at what each way betting is and how it works, it’s time to consider when to opt for these types of wager, and when regular win-only betting might be the better decision, based on your preferences.
In this table, you can see a direct comparison of each way betting and win-only betting based on a variety of different factors:
| Each Way Betting | Win-Only Betting |
| Requires double the stake size per bet | Requires only a single stake on one outcome |
| Provides some potential winnings as a return if the selection places | Potential winnings are only awarded for a win |
| Can work well for horses and other sports betting selections at longer odds | Typically, this market is suited better to short-priced favourites |
| Often works well in large fields with many runners or possible winners | More suitable for small fields with clear favourites |
| Potential winnings are decreased if the selection wins outright | Potential winnings are maximised when the selection wins outright |
As you can see, the type of bet that punters opt for depends mainly on their individual wagering preferences and risk tolerance. Win-only betting will maximise the potential winnings, if the horse wins outright, while each way betting adds extra options in which some potential winnings will be awarded.
In addition to this, each way betting can work as part of a strategy for covering horses or selections with longer odds, particularly in larger fields.
Each Way Betting Online with BetVictor
For anyone who wants to place each way bets online, BetVictor has got you covered. We have a comprehensive range of sports betting odds to choose from, including horse racing betting markets, football betting markets, tennis betting markets, and much more, all of which come with clearly laid out each way rules that can be seen on the bet slip.
For some sports betting options, such as on F1 odds, you can also place each way wagers in real time over on the in-play betting page.
Last but not least, be sure to check out the BetVictor offers page before committing to a wager. It features a variety of bonuses, many of which can be used when placing each way bets across different sports markets, with options available for both new and existing customers!
Frequently Asked Questions About Each Way Betting
An each way bet is a wager that consists of two components, one focusing on a win and the other focusing on a place. If the win part of the bet is successful, the whole wager will be awarded at their corresponding rates (The original odds for the win bet plus a fraction of those odds for the each way component). Adversely, if the selection places, only the second part of the bet will be awarded at a fraction of the original odds.
There are two main advantages to using each way bets, the first of which is that some potential winnings are still awarded if the selection places but does not win the race outright. The second potential advantage is that punters can wager on outsiders that have a low probability of winning, but a more reasonable chance of placing.
The best online sportsbook for each way betting can be found right here at BetVictor. We have a huge range of horse racing markets to choose from, covering all of the biggest races from around the world, with each way betting options available for each. You can also find each way betting options for other sports, such as outright football, tennis, and Formula 1 markets.
