What Is An Each-Way Bet & How Does It Work?

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Last Updated on March 27, 2024

By Jacob Potter

An each-way bet is a bet made up of two parts: a ‘win bet’ and a ‘place bet’. For example, if you’re placing an each-way bet on a horse race, two bets of equal amounts are made on the same horse. One bet is for the horse to win (win bet) and the second bet is for the horse to place (place bet).

  • Win Bet: If the horse wins the race, this bet is won
  • Place Bet: If the horse finishes in the top three (position may vary), this bet is won

So if you were to bet £5 each way on a horse to win, your total stake would be £10.  £5 would be on the horse to win, and then £5 would be on the horse to finish in the places, typically the first three.

What Is An Each Way Bet?

An each-way bet is a bet made up of two parts: a WIN bet and a PLACE bet. Two bets of equal amounts are made; the first on a selection (horse) to win and the second on the same selection to place. A ‘win’ obviously means that the horse finishes the race first.

When you bet each way, you have two bets; one for the horse to finish first, and a second bet for the horse to finish in the top four or five (varies according to by race). The winnings for the latter bet are calculated by applying the fraction (usually 1/4) to the original odds available.

How To Make An Each-Way Bet

To make the bet, there are three things you need to know.

  1. The betting odds
  2. The number of places
  3. The each-way fraction

All three can be found in this example screenshot from Ladbrokes. We explain each in more depth below.

horse racing each way bet

1) The Betting Odds

These are shown for each horse on the right. For the purpose of this article, we’re going to assume you know how betting odds work. If you don’t, we have a dedicated article for learning how betting odds work.

2) The Number Of Places

These are shown in the top right (1-2-3). This refers to the position the horse needs to finish in for the place bet to win. In the screenshot, this is three (i.e. the horse must finish in the top three) but varies according to how many runners are in the race. A race such as the Grand National with more runners will often have more places.

3) The Each Way Fraction

These are shown in the top right (EW 1/5). This will be represented as a fraction. Because the chances of the horse finishing in the top three are greater than finishing first, the odds for the place part of the bet is reduced by the fraction provided. This is usually 1/4 or 1/5.

How To Calculate The Winnings In An Each-Way Bet

Remember that when you make your each-way bet, you effectively have two different bets. There are three possible outcomes of an each-way bet: the horse wins the race, the horse places, or the horse doesn’t place.

Example One. You back a horse with £5 EW at odds of 10/1. places pay 1/5 1-2-3. The horse finishes 1st.

In this example, both bets win. The winnings can be calculated by adding the two bets.

  • Bet one on the horse to win – £55 return (£50 profit & £5 stake)
  • Bet two on the horse to place£15 return (£10 profit, & £5 stake. The 10.00 odds become 2/1 when fraction applied.)
  • The total winnings are £60, plus the £10 stake is returned

Example Two. You back a horse with £5 EW at odds of 10/1. Places pay 1/5 1-2-3. The horse finishes 2nd.

In this example, only bet to place wins. The winnings comprise of only the second bet.

  • Bet one on the horse to win – This bet loses
  • Bet two on the horse to place£15 return (£10 profit, & £5 stake. The 10.00 odds become 2.00 when fraction applied.)
  • The total winnings are £10, plus the £5 stake is returned

Example Three. You back a horse with £5 EW at odds of 10/1. Places pay 1/5 1-2-3. The horse finishes 4th.

In this example, neither bets win. There are no winnings.

  • Bet one on the horse to winThis bet loses
  • Bet two on the horse to placeThis bet loses
  • There are no winnings

Example Four. You back a £5 each-way single on a 10/1 selection in golf and paying 1/5 the odds a place 1, 2, 3, or 4 would cost £10.

  • Returns on the win part of the bet would be £5 × (10/1 × 1) + stake = £55 (£50 winnings + £5 stake)
  • Returns on the place part of the bet would be £5 × (10/5 × 1) + stake = £10 (£5 winnings + £5 stake)
  • Total returns would be £55 + £10 = £65 if the horse won the race, but just £10 if the player only finished second, third, or fourth.

Still unsure? Work out your winnings with our each-way bet calculator.

Each Way Bet Calculator

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EACH WAY

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Each Way Betting In Horse Racing

How Does It Work?

An each-way bet on horse racing means that you’re covering both the ‘win’ and ‘place’ part of the bet you place. It’s one of the easiest bets to place and can be done so at the majority of sporting events.

If your horse didn’t win the race, but placed, then your ‘win’ part of the bet would be settled as a loss, but the ‘place’ part would be settled as a win. The amount of places that each betting site pays out at on each-way bets depends on the bookie and the amount of runners in a race.

Each Way Horse Racing Example

Our example of an each-way football bet is from Sky Bet.

sky bet each way bet

Each Way Betting At The Grand National

An each-way bet on the Grand National isn’t any different to that of an each-way bet on horse racing. For example, if you use the Fitzdares welcome offer (one of our recommended betting offers), log in and pick a horse, there’s an option to make it each way on the betting slip:

fitzdares ew

In previous years, some betting sites have offered to payout more places on each-way bets on the Grand National than they typically would on other meetings throughout the year. It’s the same format though, as an each-way bet on the Grand National would cover both the ‘win’ and ‘place’ part of the betting selections included in your bet.

Find all the information you need for betting on the event on our Grand National betting offers page.

Football Each Way Betting

Each-way betting on football isn’t as common as it is on sports such as horse racing, as you can’t cover the ‘place’ part of an each-way bet on matches that take place in the football calendar.

However, you can place each-way football bets on outright betting markets within the sport. This can include betting on tournaments or league winners in a certain competition. An example of this could be if you predict England to win the 2026 World Cup on bet365. If the betting site you placed the bet on is offering two places on each-way bets, you would see a return of some funds if England finished second in the 2026 World Cup. However, if they won the tournament, then you’d see a full payout of the funds.

Can You Do Each Way Bets On First Goal Scorer?

Different betting sites have different rules in place for each-way bets placed on a first goalscorer within football, so it’s important to read through the terms and conditions listed on the bookmaker’s website.

An example of a bookie that has you covered on each-way bets on the first goalscorer is bet365. As stated on their site, they’ll pay you out for unlimited places if that player scores during 90 minutes.

Golf Each Way Betting

How Does It Work?

Golf betting is becoming increasingly popular, especially with tournaments taking place throughout the year. It’s worth remembering that you can only place an each-way golf bet on outright betting markets on tournaments. An each-way bet runs similar to how any other each-way bet on another sport would though, as you’re covering both the ‘win’ and ‘place’ part of the bet.

If your selection doesn’t win, but places within the places being offered by the bookmaker, then you’ll still see a return of some funds, although the amount can depend on the amount wagered on the bet and the odds being offered by the betting site.

Golf Each Way Bet Example

On a 10-1 selection £5 each-way single and paying 15 the odds to place 1, 2, 3, or 4 would cost £10.

  • Returns on the win would be £5 × (10/1 × 1) + stake = £55 (£50 winnings + £5 stake)
  • Returns on the place would be £5 × (10/5 × 1) + stake = £10 (£5 winnings + £5 stake)
  • Total returns would be £55 + £10 = £65 if the selected player win, but just £10 if the player only finished second, third, or fourth

Below is an example of how to place an each-way golf bet on Betfair.

golf each way bet

Each Way Accumulator

What Is It?

An each-way accumulator is a popular bet for punters, as they look to provide themselves with insurance on some of their betting selections, whilst also giving themselves a chance of a potentially sizeable payout, although this does depend on the stake wagered and the odds being offered by the bookmaker.

An each-way accumulator covers both the ‘win’ and ‘place’ part of an each-way bet. If you’ve wagered funds on an each-way accumulator and some of your selections win and some place, then your overall payout will be adjusted accordingly. If all of your selections in the each-way accumulator were to win, then you’d see a full payout based on the odds of the selections in your bet.

Example

Below, we’ve provided an example of an each-way accumulator on William Hill, which is a great bookie to use, as they’re well-established within the betting industry.

each way accumulator

What Are The Advantages Of Each Way Betting?

Each way betting is popular as it increases your chances of winning.

For some sporting events, there are no strong favourites and each selection is priced long. In such a market, it is much harder to predict who will win, but the long odds results in favourable odds even after the fraction has been applied.

Some would, therefore, consider each way betting to be lower risk, lower gain approach to betting.

What Are The Disadvantages Of Each Way Betting?

When betting each way, your stake is effectively doubled which may mean that you’re risking a greater amount of money.

A second consideration is the odds after the fraction has been applied. If the odds are low to start with, once the fraction has been applied the potential winnings might be not so attractive.  Some may perceive the lower risk, lower gains as a potential drawback.

Win Or Each Way? Which Is Best?

There isn’t technically a correct answer as to whether a win is the best bet, or an each-way one is. Each punter will have their own preference as to what they prefer, and this is entirely up to them, as you should only gamble with funds that you can afford to lose.

One of the positives of a ‘Win’ bet is that it’s half the cost to that of an each-way bet, and could see you earn a sizeable payout if all the betting selections win. However, the main disadvantage of a ‘Win’ bet compared to an each-way bet is that if one selection loses, then your bet will be settled as a loss. Whereas with an each-way bet, you’re covered if a selection places, and although it’s double the stake of a win bet, you’re providing yourself with more insurance in case the selection doesn’t win.

Each Way Betting Rules and Terms

Each betting site will have their terms and conditions for each-way betting. Betfair are a betting site that are well worth considering for each-way betting, especially with their betting exchange accessible to punters.

Below, we’ve listed their terms and conditions for each-way betting.

  • If you place a bet which is EW (1/5, 3 places) and your horse finishes in the top 3, you’ll win your bet.
  • The place portion of your bet will pay out at 1/5 of the odds that you took that horse for.
  • Should the horse come first you’ll receive the payout on both the Win and Place portions of your bet.
  • If your horse finished 2nd or 3rd you’ll only receive the payout on the place section, the win part of your bet will be a loser.

Frequently Asked Questions With Each Way Betting?