Do you think you know enough about each way betting?
If you’re new to my content here at Betting.co.uk, I’m RacingGav and I’m the resident horse racing expert here. Although I mostly focus on betting tips, I also enjoy helping bettors make the most of their experience, hence my series of educational guides (like this one) that I’m building over the next few months.
While my guides are suitable for those of you who are new to betting on horse racing, there’s always a case for teaching an old dog new tricks. So even if you think you already know everything about each way betting, I reckon you’ll still find plenty of useful information here.
Everyone is also welcome to take a look at some of my previous guides. Currently trending is my guide to
National Hunt racing, but my article covering the
UK Handicap system
is right up there too. Make sure to check those out, if you haven’t already.
Need a new bookie? Then give LiveScore Bet a try!
I think you should check out LiveScore Bet. Being a name away from the big players, chances are that you don’t already have an account with this brand. If that’s the case, it means you can access their new customer offer and land yourself some free bets! If you sign up and
bet £10, you’ll get £30 in free bets. I highly recommend you take a close look at this deal.
Each way betting explained
In the next few sections of my guide, I’ll tell you all you need to know about placing each way bets. If you fall into the ‘beginner’ category, this guide will be really valuable for you. But even if you’re a seasoned pro, every day is a school day as they say, so you're still sure to find something useful!
How does each way betting work?
There are many considerations when you select a horse in any given race. But the two main factors are whether your selection will win, or will it achieve a place in the race. When you bet each way, you are effectively combining both options (win and place) into a single bet.
When you tick the ‘each way’ box on your betslip, your stake is split equally across both options. For example, if you place a £5 each way bet, you are betting £5 on the horse to win, and £5 for it to place. The total stake for this particular bet is therefore £10.
As a general rule, bookmakers will pay either ¼ or ⅕ of the win odds for the horse to place. This part is largely dictated by the number of horses in the race, and the amount of places on offer. All of this information will be laid out clearly for you by the bookmaker before you place your bet.
When to bet each way (and when not to)
As I’ve mentioned already, there are several factors to consider before you choose a horse and place your bet. With your horse chosen, you now need to consider whether you will back the horse to win, or to go each way. To do this, you need to consider the likelihood of both outcomes individually i.e. the probability of the horse winning vs the probability of it placing.
For the win element, you must strongly believe the horse can win the race. Most importantly in terms of betting, you need to think the horse has a greater chance of winning than the bookmaker is implying with their odds. The same comments apply to the place element too. If you think the horse has a great chance of placing, but has the potential to win, then an each way bet is the best solution.
On the flip side, let’s say you know the horse has the ability to win, but you’re not sure if it’s fit enough, or you’re worried the trainer has another target in mind, and your horse won’t be fully committed to winning, there’s an added risk. In those circumstances, you are best to avoid betting each way. After all, if the horse fails to place as well, you are left with double the loss.
Don’t be dictated by the price, make your own decision!
I know so many people who consistently fall into the trap of letting the odds dictate their bet. From their point of view an each way bet at odds of 5/1 is a ‘bet to nothing’. They obstinately refuse to back a horse each way unless it is 5/1+, and will only back to win at anything below the magic 5/1 mark. This stance is largely tied to the bookmakers offering ⅕ of the odds for a place. In that scenario if you were to place a £1 each way bet at 5/1, and the horse comes in second, all you would get back is your original stake. Anything shorter than 5/1, and you’d make a loss.
My personal view is that this is nonsense. There are times I’ll happily bet each way at 7/2, for example, and there are times when I’ll only bet to win at 25/1. It all depends on the horse, the circumstances and what you believe is the most likely outcome for that horse, in that particular race.
As an example, if a horse is priced at 7/2, and you’re convinced he should really win, but will definitely be in the places, I think an each way bet is the way to go. If he wins, you’re laughing, but if he finishes second or third, then at least you’ll recoup a decent percentage of your stake. That said, any shorter than around the 7/2 mark, you’re not getting enough value, and it’s probably best left alone entirely. On the flip side, if your chosen horse is 25/1 and you think he’ll either win, or be well beaten, you’re best off going win only. The main point being to judge each horse on its own merits, not on its odds.
Each way betting - the bottom line
Ultimately, how, when and where you bet is totally your choice. My sole aim here is to provide you with information that is worth considering the next time you place a bet. Leaving aside my own thoughts about each way betting, there are a few key points to take away from this guide:
- An each way bet is a useful tool, and understanding exactly how it works is very important.
- While some punters use an each way bet as a ‘safety net’, what they fail to see is that betting each way on the wrong horse could double their loss.
- Don’t regard the odds as the only reason to bet each way.
- You must judge every horse on its own merits, and the likelihood of how well it may perform in that particular race.
In all honesty, if you really want to see whether you’re making the right calls, track all of your bets and the result of each one. You can then monitor what your results would have been based on whether you backed them just to win, or each way, and then adjust your strategy accordingly.
Take your pick from these bookie bonuses
Below you will find a list of our recommended bookmaker partners and the offers they currently have available. As you can see, if you sign up and deposit a modest amount, you can be rewarded with free bets and/or other bonuses. I strongly recommend you check them out!
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