Horse racing and betting have always gone hand in hand. For centuries, people have enjoyed the thrill of correctly calling the winner of a horse race but there is more than one way to approach things.
Each way betting is incredibly popular, especially for those betting on outsiders at bigger odds. So let’s have a look at what it entails and what you need to keep an eye on.
What is Each Way Betting?
Each way betting allows punters to win money from a horse race even if their horse doesn’t win the race.
That is because when you place an each way bet with any bookmaker, you aren’t placing one bet. You are placing two bets – one on the horse to win the race and one on the horse to finish in the places (more on places later).
The win portion of an each way bet is pretty self-explanatory and easy to understand. The bet will win if your horse wins the race and lose if it finishes anywhere other than first.
The place portion of the bet is a little trickier for those new to horse racing betting. The bet will win if the horse you’ve backed each way finishes in any of the pre-determined places (often the top three) and lose if it finishes outside of them.
How do You Place an Each Way Bet?
The process of striking an each way horse racing bet is pretty much the same with every online bookmaker. You navigate to the particular race you’re interested in, add the horse you want to back to the betslip and click the each way button.
As soon as you tick the each way button your stake will be doubled (remember, you are placing two bets) as will your potential winnings, reflecting the fact that you’re now placing an each way bet.
It is even possible with the very best bookmakers such as bet365 and 888Sport to place each way multiples and combination bets.
Check out our free each way betting calculator to discover your potential return from an each way bet:
Learn more about our each way betting calculator here.
How Much Do You Win From Each Way Betting?
It is very important to remember that when you place an each way bet on a horse, your stake will be doubled.
Let’s say, for example, you go into a high street bookmaker and ask for a £5 bet on a horse in the Grand National. Your total stake will be £10 as you are striking a £5 bet on the horse to win the race and a separate £5 bet on the horse to finish in the places.
As with any bet, the amount you win from each way horse racing betting depends on the size of your stake. It also depends on the each way terms.
The each way terms concern the place portion of an each way bet. It concerns the number of places and the fraction of the win odds that will be paid out for horses who finish in the places.
Let’s say in the Grand National example above the horse you want to back is 20/1 to win the race and the bookie you’ve used is paying out on each way terms of ¼ the odds to four places.
Your two bets are £5 on the horse to win the race at 20/1 and £5 on the horse to finish in the first four places at 5/1.
If the horse wins the race you will win £105 (including the stake) from the win portion and £30 (including the stake) for a total net profit of £125.
If the horse finishes second, third or fourth you will lose the win portion of the bet and have £30 (including the stake) returned from the place portion for a total net profit of £20.
Keep an Eye on the Each Way Places
Bookmaking is a very competitive landscape. The bookies are always trying to convince punters to bet with them rather than one of their competitors.
As you’ll see if you have a look through our site here at Freebets.com, that is great news given the amount of free bets and betting offers you have to pick through. Another way for individual bookmakers to stand out is by offering better each way terms than others.
It always pays to have a good look at the each way places available with the various bookmakers you have accounts with as it can have a major impact on your returns.
Take this race from Paddy Power as an example. They paid out seven places on the 15:40 at Newmarket which is a great boost compared to the majority of bookies who paid out just four places.