An each-way bet consists of a bet that a selection will win an event and a bet for the same amount that the selection will manage to finish placed. If you bet “£1 each way”, for example, the stake you’ll be wagering is £2 – that is, £1 for each of the two bets.
The first bet wagers a stake on the selection to win at the selected odds. The second bet wagers an equal stake on the place, typically at ¼ of the odds offered for the win. This bet pays out if the selection wins or achieves a place (typically a finish in the top three positions) in the event.
How to make an each-way bet online
The betting slip you use to place bets with an online sportsbook will feature an “Each Way” betting box, usually marked E/W. Ticking this box will convert a bet on a selection into an each-way bet, automatically doubling the amount staked on the selection.
Example of an each-way bet
Imagine you decide to place a £5 bet on a horse named Lightning Bolt to win a race at odds of 10/1, and then you tick the E/W (each-way) box on your betting slip. This action splits your bet into two £5 wagers, making your total stake £10.
The first £5 is bet on Lightning Bolt winning the race at 10/1 odds (bet #1). The second £5 is bet at odds of 2.5/1 (10/1 divided by 4) on Lightning Bolt to finish in one of the top places, as specified by the bookmaker (bet #2).
If Lightning Bolt wins the race, both of your bets pay out. This means you’ll receive 5 x 10 (bet #1) + 5 x 2.5 (bet #2) + 10 (your original stake), totaling a return of £75.
However, if Lightning Bolt finishes the race in second or third place (or another place if specified by the bookmaker’s terms), only your second bet pays out. In this scenario, you would earn 5 x 2.5 (bet #2) + 5 (the winning stake from bet #2) – 5 (the losing stake from bet #1), giving you a total return of £17.50.
When to bet each way
Each-way betting is worthwhile only if the odds are high enough that you’ll generate an overall profit if your selection achieves a place but doesn’t win outright. For this reason, each-way betting should only be done when your selection is priced over 4/1 for an each-way bet paying 1/4 odds on a place, or 5/1 for an each-way bet paying out 1/5 odds on a place.
It’s also worth looking out for extra place specials if you’re planning to place each-way bets.
Sportsbooks frequently offer additional place payouts on events, ranging from tennis and golf tournaments to high-profile horse races. This improves the chance that an each-way bet will win, making it a better proposition.
