If you’re into horse racing, you’ve surely come across each-way bets. While the name may sound confusing to new punters, an e/w bet is simple.
In this each-way bet explained guide, we’ll tell you all about it and why it’s worth putting your money on it at the best horse racing betting sites.
As mentioned earlier, the EW bet is a unique wager offered at the best horse racing sportsbooks. It’s got 2 ‘moving’ parts – a win and a place bet. You’ll need to learn a bit of horse racing terminology to understand how it works. The win is pretty self-explanatory – it means picking a winning horse. A place bet means selecting a horse to finish first, second, or third in a race such as the Grand National.
So, what does each way mean in betting? It means you can score excellent returns for your wager if both the win and place selections win. If the selection takes place, you only get paid for that part (same for the win). In short, each way pays depending on the odds and the money you’ve put on each.
Each-way betting is the most popular way to back a horse in the Grand National and other famous horse races. Of course, it is offered in different sports betting markets, such as the English FA Cup or Premier League.
EW betting is straightforward if you do it at the top sports betting sites in the industry. For example, placing it on sites such as Betfair, Bet365, Betfred, or William Hill is relatively easy. Punters must select a horse to win by clicking on its odds. When the selection is added to your betslip, click on the EW box below the odds. Enter your wager in the end, and that’ll be it.
Remember that it will cost you double when you bet each way. For example, back a horse at £10, and you’ll also place him at the same amount. It is done automatically by the system, so you don’t need to worry about it. At the same time, the system will also calculate your winnings so you know exactly what you might get in return.
Every each-way bet has 2 parts which we’ll explain in detail below.
By placing a winning bet, you’re picking a winning horse. It is the first thing you pick in an each-way horse bet. Just click on the odds, and it’ll instantly be added to your betslip.
When you place this bet, you’re essentially betting on a horse to finish on a predetermined spot. It is usually on the 1st, 2nd, or 3rd, but it can be different.
When placing this exciting bet, it’s essential to consider the win and place odds for your selections. If the odds aren’t even, you will lose money overall. That’s why many punters calculate the returns of an e/w bet, so they know if it’s profitable to wager on.
The good news is that all real money bookies do this automatically, so no need for a calculator. Whether you’re betting on football or horse racing, the system will calculate the returns as soon as you enter your stake. Many offer a special each-way accumulator, which is excellent for punters deeply invested in this exciting double bet.
To make things easier, we’ll show you an example of EW betting often seen at Ladbrokes and similar bookies.
As mentioned earlier, your wager is instantly doubled when you place an e/w bet. It shouldn’t come as a surprise – you’re essentially betting on 2 different bets. For example, if you back a horse at £5 at odds of 10/1, the other part of the bet will also be for £5, but at different odds – let’s say 5/1 for places 1-2-3.
You will win the full bet if your horse wins the race. In that case, it won the race and placed first, so both parts of the bet paid.
Only the place bet wins when a horse finishes on the second or third spot. If it ends outside of the predetermined places, you lose your bet.
While it may look confusing at first glance, this is an effortless way to bet and get a solid payout if both bet parts win.
Each-way betting can be lucrative in some combinations and not worthwhile in others. For example, it can be very profitable if you believe a horse will win the race. An EW bet is a must if the horse’s odds are solid. You’ll risk a bit more money, but you’ll get much better returns when the horse covers both parts of the bet.
If you’re not sure a horse can win the race, but it’s fast enough to place, an each-way bet still makes sense. If you get great each-way odds on both parts, this is a bet that promises a lot of potential and great winnings. When weighing it against other bet types, it’s a fantastic way to earn extra money on favourites with solid odds.
The most obvious disadvantage of this double bet is the double wager. To put it simply, it’s a pretty risky one if you’re betting on long odds. In that case, the returns might be fantastic, but the long odds create a risk-high reward situation that doesn’t always pay.
Now that you’ve learned how each way betting works, we strongly recommend you try it – no need to bet great money on it right away. Instead, back one of the top favourites for a fiver, and you might win more than you imagined in the first place.
It’s a great way to get the most out of a double bet and a great way to diminish the risks of losing your money.
