Each Way Betting

In a normal bet you’re betting on your stake winning the event. This might involve backing a horse or placing an outright bet on the Premier League. An each way bet will pay-out on second, third or even fourth place.

With an each way bet it is important to remember that you’re actually placing two separate bets, with reduced odds on a second place finish. So, if you’re placing a £10 each way bet, then you’re placing two bets of £10. In short this means you’re paying the bookmaker £20.

To win on an each way bet you need your stake to be placed in the event. In horse racing this means you need your horse to finish first, second, third or fourth. While some bookmakers pay out on a fourth place finish, you must remember that this is entirely dependent on the number of horses taking part in the race.

There is no each way betting on a race with less than 5 horses. In a race between 5 – 7 horses, only the horse that finishes second will earn you a payout. Third place requires a race involving 12 – 15 runners and a fourth place payout needs more than 15 runners. If your horse is placed but doesn’t win, then you get 1/4 of the odds quoted.

Calculate Your Winnings

A £10 each way bet on a 16/1 shot will be divided into two £5 bets. There are two outcomes:

If your horse wins you will win 16 x £5 = £80 plus your £5 stake back. You will not get back the £5 part of your stake that you bet on the horse to be placed in the top four.

If your horse is placed in the top four, then you get odds of 4/1, winning you £20 plus your £5 stake back. You will lose your stake on the horse finishing first.

 

Because of the odds associated with each way betting, it is unprofitable to place an each way bet on odd of 4/1 or less. We recommend that when you place an each way bet, you do so at odds of greater than 8/1.