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Each Way Betting
Each way betting is available when punters make selections on events where there are more than 2 competitors. What these bets do is allow punters to earn a payout if their selection fails to win the event, but still manages to finish highly placed.
When a bet is placed online the betting skip will feature an Each Way betting box, usually marked E/W. Ticking this box will convert the bet into an Each Way bet by doubling the amount staked on the selection.
How Each Way Bets Work
Every Each Way bet transforms a bet into two separate bets by doubling the original stake.
- The first bet wagers half of the stake on the selection at the selected odds
- The second bet wagers half of the stake at ¼ of the odds selected. This bet pays out if the selection wins or finishes placed in the event
For example:
A punter bets $5 on Everton winning the Premier League at odds of 12/1, and then checks the E/W box on the betting slip. This Each Way selection automatically places two separate $5 bets for a total stake of $10.
The original $5 is staked on Everton winning the league at 12/1 odds (bet #1). The other $5 is staked at odds of 3/1 (12/1 x ¼) on Everton finishing the Premiership placed (bet #2).
If Everton wins the Premier League both bets will pay out. Therefore the punter will earn 5 x 12 (bet #1) + 5 x 3 (bet #2) +10 (the total stake) for a total return of $85.
If Everton finishes the season in 3rd place, only the second bet will pay out. This means the punter will earn 5 x 3 (bet #2) + 5 (the winning stake) – 5 (the losing stake) for a total return of $15.
When to bet Each Way
- As you can see from the example, Each Way betting is only worthwhile when the odds are high enough to generate an overall profit if the selection finishes placed.
- For this reason Each Way betting is most popular in outright winner betting markets for major tournaments and handicap racing where odds are consistently high.
It is also worthwhile looking out for extra place specials when planning to place each way bets. Sportsbooks can offer additional place payouts on events ranging from tennis and golf tournaments through to high profile horse races.
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