Each Way Bet Calculator

It’s fair to say that as sports bettors the one thing we all love is spreading our risk whilst still being able to make some great returns. The one bet type that can provide that in abundance is each-way betting.

Each-way betting is usually consigned to horse racing and greyhound racing and has been a staple of both sports for decades. However it can also be used when betting on sports such as golf.

Looking for bet calculations? Try our in depth bet calculator to analyise your potential winnings.

The main reason why each-way betting has soared in popularity is that winnings can be returned even if the horse or greyhound you have backed doesn’t win.

However, there is a little to get your head round, but don’t worry, that’s where we come in. In this guide we will explain in more detail what an each-way bet is, how it can be applied, its strengths and weaknesses and how the odds can be calculated.

Let’s get cracking.

An Each-Way Bet Explained

Whereas in sports such as football and tennis you are often betting on one team or player to win against the other, predicting a horse or greyhound to win a race or a golfer to win amongst a strong field is a lot harder and comes with much more risk. But that’s where each-way betting can come into its own.

In any race where there is over eight runners, usually an each-way bet covers the first three places. This means that if you back a horse to win and they finish second or third, you would still be paid out. In golf it’s likely that the top eight on the leaderboard will be paid as winners.

However, although you would be paid as a winner, the winnings that you would receive wouldn’t be as high as if your horse were to win the race itself. Each way winnings are usually capped at a fifth of the odds and can require a bit of calculating. We will explain more about the calculations later on in this guide.

You may be shouting - what happens if the horse I back wins? Well this is where each-way betting really comes into its own.

An each-way bet contains two betting lines. If you want to bet £10, £5 will cover the win line and £5 will cover the place line.

Let’s just say the horse you want to back has odds of 10-1 and wins, the winning line will return you a cool £50, however the winnings won’t stop there.

Although your horse was a winner, you will also benefit from the £5 place line. As we have explained above, with the place line being positioned at a fifth of the overall win odds. The 10/1 will be slashed to 2/1, but still give you another £10 in winnings.

So in short, if your horse wins you will receive winnings from both the win and place lines. If your horse doesn’t win but places, you will win money from the place line only,

If your horse falls outside of the places completely, your bet will be a loser and neither line will pay you out.

Should You Always Bet Each-Way?

If you are new to each-way betting you may be thinking why wouldn’t you place each-way bets all the time?

When betting each way you always need to remember the place line will pay much lower than the win line.

Due to the place line usually paying at a fifth of the odds, if the horse you want to bet on is a short price, i.e. 2/1, 3/1, 4/1 and it doesn’t win but places, the amount that your bet would return would be lower than your initial stake. Therefore, although you would see some returns made, if you kept up this strategy it would see you lose money in the long run.

Usually each-way betting is perfect for when you want to bet on horses, greyhounds or golfers that are placed at 5/1 or higher. This should usually mean that at least your original stake will be returned.

How Many Places Do Each-Way Bets Usually Pay Out?

One of the nuances of each-way betting is that from site to site the amount of places that are paid out can be vary. However there are a few rules that most bookmakers follow.

General Rules:

If there is a field of nine or more runners, usually the top three horses are paid out as part of each way betting.
If three places are paid out, the place line is paid at 1/5 odds.
If there are more than fifteen runners in a race, some bookmakers will expand their place offering to cover the first four runners.
In even bigger field races where over twenty runners are in the race, some bookmakers may pay out five places. Some may even stretch it out to the first six horses.
If there is a race below nine runners, it is common that only the first two places will be paid out. If only two places are being paid, the place odds will often be 1/4 of the overall win odds.
Each-way betting usually starts for races that have at least five runners.
For greyhound racing, fields are usually limited to six runners. The top two places are what is paid for at odds of 1/4. It’s very rare that this would ever fluctuate.
Golf tournaments usually see the top eight places paid out, but this can fluctuate from tournament to tournament.

Where is Each-Way Betting Popular?

The most popular race for each-way betting is the Grand National. With thirty runners in the race and over four miles to run, picking the winner can be tough but bookmakers can often pay up to seven or eight runners.

Odds for the race are often large and the race has seen winners at huge prices of 100/1 in the past. With the majority of runners being priced generously, betting each-way can be a superb way of betting on one of the best races in the sport.

Advantages and Disadvantages of Each-Way Betting

Advantages

An each-way bet provides great flexibility and covers both win and place possibilities.
Each-way bets are quick and easy to place.
Fantastic for new bettors or those that like to spread risk.
A range of stakes can be accommodated.
Each-way bets can make both horse and greyhound racing appealing sports to bet on.

Disadvantages

Two betting lines are required so it can be an expensive option.
The risk of the place line needs to be considered in terms of the overall return that can be made.
The odds of the place line and amount of places paid will fluctuate greatly.