What does Each Way mean in the context of betting?

Question

Have just always wondered what it meant and what it does.

Answer 1

It means you can win something from top 3 and in some races with a lot of horse, top 4. Your bet is doubled for each way. e.g. If you want to bet £1 each way it would cost you £2. If you win you get full odds plus a quarter of the odds and you money back. If you get a place in top 3 you get quarter of the odds and your money back

Answer 2

its the same as win place show, just a different way of putting it.

Answer 3

I think it means if the horse comes in the first 3 places then you still win, but get a shorter odds on your bet.

Answer 4

Each Way

UK betting term for betting on a bet to win or place. In a horse race with 20 runners for example, an each way bet will typically allow for a winning place bet if your horse finishes in the first 3 or 4 positions. With an each way bet your stake is split 50/50 on the win and place bets. If your selection wins, then you win both bets, if it 'places', then you win the place bet only and lose the win bet. Place bets are typically worth somewhere between 1/3 and 1/5 of the original starting price.

Answer 5

In Australia it's almost the same as above answers, except we don't have the option of 4th or 5th place, only 2nd & 3rd for at least an 8 horse race. (Less than 8 runners pays only 1st & 2nd.)

If you want to bet total of $10 on a horse at say 8 to 1:

to win only: give you $90 if it wins;

$5 each way: and it wins - $40 for the win (8 x $5) & $10 for the place (quarter of the win) + the original bet $10, total of $60. For a place only you get the $10 + $5, total $15, ie 50percent up.

A general rule of thumb is to bet each way only on nags that come out at 4 to 1 or better. At least you get your money back for a place. Less than 4 to 1 you're losing on a place. Might as well bet win only.

Answer 6

It is 2 bets. 1 on the selection to win and 1 on it to be placed. The amount of places depend on the sport, tournament and contestants. I have opinions on this in that in the long term you are probably better off backing win only but if you back a 2nd at 33/1 then it is nice to get something back

Answer 7

Each Way means, say if you put a pound on a horse each way, that means if the horse wins you take half of the paid money in context to the full odds.

Answer 8

I'll answer the question in regard to general UK betting conditions.

To use a horse race as an example, if you want to bet on a horse which has odds of 10/1 you could either place a 'win' bet or an 'each-way' bet.

With the win bet the horse has to win the race to get a return.(10 times your stake plus your stake returned).

An each-way bet gives you a return if your horse 'places' , but only to a percentage of the odds given for a win (1/4,1/5 usually for horses).

Each way terms may be 2nd 3rd or 4th for UK  horse races.(bookies occasionally offer a 5th place for big races as a  promotion).

The each-way terms depend on how many runners there are in a race and what type of race it is.

Basically you are placing two bets, one that your horse will win,and another that it will finish in the places.

If it wins you get paid out on both bets,if it only finishes in the places you get paid out on the place bet (eg.your place stake X 1/4 plus your place stake back.)

So a £1 each-way bet costs £2 a quid for the win and a quid that it comes 2nd 3rd 4th or whatever.

It's a way of trying to get a return if your selection doesn't quite win.

If the odds are big you'll actually make a profit.

I'm sorry if my answer is vague but I had to have a go,so many people misunderstand the rules of each-way betting and think that they're guaranteed their money back if their horse places.

If it doesn't place you lose twice as much.

Answer 9

Each way will pay out on up to the first 5 places in a horse race , this depends on the amount of horses in the field , the fewer horses the less places , the bet will cost you twice as much , a £10 ew bet will cost you £20 , also the odds fall as the places fall , down to a 1/4 in some cases