Trevor Jones is an expert in iGaming with a passion for writing US sports, such as football and basketball, in particular. He is extremely knowledgeable about US gambling regulations and is a contributor to The Sports Daily. He is an avid sports and betting enthusiast and a huge fan of the Golden State Warriors, though follows all of the major sports leagues.
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All posts by David MyersWhat is each-way betting? Put simply, it is two bets combined into one, including both the win and place bet.
When it comes to betting on sports, this unique type of bet offers some serious potential. No-one betting on sports should do so without understanding this concept. So, let’s explore each-way sports betting so you understand how it works and how to make the most of these popular wagers.
What is an Each-Way Bet?
What is each-way betting? An each-way bet is a combination of bets. It is a bet to win and to place.Betting each-way is not really different from making each of these bets separately. Many offshore sportsbooks will give you the option to do both. Making an each-way bet just simplifies this process.
How Does an E/W Bet Work?
Looking at both of the wins and place bets together gives a picture of how this bet is advantageous and makes understanding each-way bets easier when using a crypto betting site.
The Win
A bet to win gives better odds than a bet to place. However, it is less likely to hit.
Imagine you’re one of the 68 million Americans betting on the Super Bowl. You place a $100 futures bet on the San Francisco 49ers to win on the moneyline with +500 odds. If that team wins, you receive $600 back. However, if they lose, you get nothing.
The Place
A bet to place doesn’t pay out as much as a bet to win. However, it is more likely to hit.
Imagine the same $100 bet on the 49ers with +500 odds. However, this time, the bet is a 1/2 bet for the team to finish in the top two, which basically means they simply have to make it to the Super Bowl. If the team makes it that far, you receive $400 back.
Each-Way Betting on the Bet Slip
Betting each-way looks different from placing a traditional bet. With an each-way bet, you are looking for a few different features of the bet slip to tell you exactly what you are doing.
First, you should see the odds of the player, horse or team you are betting on. The slip will show these odds in the traditional way.
Next, you should see the odds of the place bet you are making. The slip will typically express these as a fraction (which gives you odds) and a number (which tells the position the player or team has to finish in for your place part of the bet to hit).
You will then usually see the amount of your bet expressed for each bet. So, you may see your $20 bet to win and your $20 bet to place for a total bet of $40.
How To Win an E/W Bet
It isn’t enough to simply know, “what is each-way betting?” You also need to understand what it takes to win an each-way bet.
The ideal scenario is to win both bets. For this to happen, you need your win bet to hit, as it also means your place bet hits.
However, if your winning bet doesn’t hit, you at least want your place bet to hit. If you planned things out correctly, the bet to place often covers your bet to win while earning a little extra. You don’t win as much as you would have with a win wager, but you still walk away with something.
The Calculation of Odds and Returns of an Each-Way Bet
Let’s return to the example of the futures bets on the San Francisco 49ers. Combining the previous examples to bet them to win and place forms an each-way bet. With this bet, the $100 bet to win has +500 odds and the $100 bet to place is an E/W 1/2 two places bet.
Three possible scenarios exist with this bet:
- The team wins: The bet to win pays out $600, and the bet to place pays out $350. You end up walking away with $950.
- The team places: The bet to win doesn’t pay out, but the bet to place pays out $350. You still end up ahead by $150.
- The team doesn’t win or place: You truly lose and don’t make anything.
How Do Ties Work in Each-Way Betting? – Dead Heat Rules
If a tie impacts E/W betting, dead-heat rules apply. These rules will differ by sportsbook but typically hurt your bet.
The most common result is that the sportsbook cuts the odds, and therefore the payout, in half. The rule here typically only comes into play if the player or team ties for the final spot to place.
For example, imagine a $100 bet on Scottie Scheffler to place in the Masters at +300 odds. If he ties to place in the final spot, the bet will only pay out $250 instead of $400.
However, dead-heat rules vary from sportsbook to sportsbook. Some don’t halve bets like these but have other restrictions.
Because of this, you should make a point to learn these rules before placing a bet. They may impact the way you bet or the bet you make. Plus, knowing beforehand can help prevent the heartbreak of suddenly learning this affects your bet.
How Many Places Are Paid in an E/W Bet?
The number of places paid on an each-way bet varies depending on the bet and situation. Understanding this is essential in answering the question “What is each-way betting?”
In most cases, the bet will show you exactly how many places pay out and even let you choose how many places you want to pay out. Keep in mind, though, that paying out more places often leads to shorter odds and, by extension, a lower payout.
In other cases, the nature of the situation will limit how many places pay out. For example, a horse race bet pays out a specific number of places based on the number of horses in the race. The table below shows this.
Runners Min. E/W places paid 1-4 runners None 5-7 runners 2 8-15 runners 3 16 or more (handicap races only) 4 The Best Times To Bet Each-Way
Timing matters when it comes to betting each-way. Some each-way bets are only available at certain times, and it also impacts the odds.
While sports like horse racing and golf offer the potential to make each-way bets at almost any time, sports with only one winner in each game only allow you to make each-way bets at specific times. For example, you can only make an each-way bet on the NFL when dealing with futures bets. Once the season progresses, your options for each-way bets become increasingly limited.
Timing also impacts the odds of an each-way bet. Sometimes, sites offer enhanced places or better odds. You can make the most of an each-way bet by watching out for these opportunities.
Pros and Cons of Each-Way Betting
With the question, “What does each-way mean in betting?” answered, we can dive deeper into the specific advantages and disadvantages of betting each-way.
Advantages
Each-way betting offers some benefits, including:
✅ Greater coverage: You cover more options and, thus, increase your likelihood of winning.
✅ Enhanced places: An each-way bet allows you to take advantage of enhanced places promotions, increasing your chance of winning.
✅ Built-in hedge bet: You hedge your bet to win with a bet to place. Doing so is a strategic way to approach the situation.
✅ Great in certain situations: E/W betting is particularly good when dealing with larger fields. By betting each way, you can capture a larger portion of this field while still leaving a possibility open to capture some under-priced opportunities.
Disadvantages
However, there are some downsides to E/W betting as well, such as:
❌ Higher stakes: An each-way bet requires you to place two separate bets. Because of this, you will usually risk more when placing a bet like this.
❌ Lower returns: The place bet portion of an each-way bet gives lower returns than a straight win bet. While this makes it more likely to hit, it will pay less than a straight-win bet.
❌ Less paid places: In some situations, each-way betting leads to less paid places and decreases your chances of winning compared to other types of bets.
❌ Offered less often: Many sportsbooks simply don’t offer each-way wagering as an option. Because of this, you may need to shop around for sportsbooks and may end up with fewer options.
Examples of E/W Bets
Having each-way wagering explained means understanding how it works in each sport.
Each-Way Betting in Horse Racing
With horse race betting, E/W betting is very common. In fact, this may be the field where you see each-way wagering most often.
It is also very straightforward. You simply select the horse you think will win. Since the sportsbook predetermines the number of paid places based on the number of horses, you don’t even have to worry about making that decision.
Often, horse racing even comes with a nice win-place show calculator. Having this makes it easier to know what to expect based on what is available.
Each-Way Betting in NASCAR and Motor Sports
NASCAR and other motorsports function similarly to horse racing each-way gambling. Therefore, they lend themselves just as well to each-way bets.
In some of these sports, the sportsbook does not predetermine paid places. You may have to select this yourself based on the odds you are looking for.
When betting on these sports, you can place an each-way bet on the results of an individual race. However, with some categories, you can also place a bet on the results of an entire series. For example, betting on the NASCAR Cup Series winner is an option.
Each-Way Betting in Golf
When betting on golf, you are betting on the finishing order of a specific tournament. You will bet on who you think will win or at least place in the tournament, and often there is terrific value in a player making, say, the top 6 places at 50/1, meaning the place part pays around 10/1 (fifth of the odds).
In this way, it functions similarly to betting on the results of a race. Although the sport plays out differently, the results are pretty much the same.
Each-Way Betting in Soccer
You can’t really place an each-way bet on individual soccer matches, although you can place each-way bets on the outcome of an entire soccer season. Since you need to make these in advance, they will all be futures bets that look at the final results – for instance, an each-way bet on the Top Goalscorer to finish in the top three.
The best part about E/W betting in soccer is the large number of options. The MLS is one option. However, the English Premier League is home to the most valuable soccer clubs and many more European options also exist.
Each-Way Betting in Other Sports – (NFL, NHL, MLB, NBA)
Each-way bets in other sports, like the NFL, NHL, MLB, and NBA, are possible but have more limits. As with soccer, you will place a futures bet on the results of a season. The most common option is to bet on the winner of the league championship with three paid places. These are effectively bets on who you think will make either win the league, finish second or third.
Each-Way Bet vs. Place Bets – The Key Differences
What is each-way betting when compared to a place bet? An each-way bet incorporates a place wager. However, it is distinct and different from a standard place bet.
Key differences include:
- Payouts: If your selection option wins, payouts for an each-way bet are larger than a single place wager. If your selection wins and you only did the place, then the payouts will be lower and you miss out on the win part.
- Stake: Since an each-way bet is two bets, it requires a larger stake and, therefore, more risk.
- Considerations: An each-way bet is a great choice when you feel confident about your selection winning. A place bet may be the better choice if you are less confident.
Each-Way Multi-Bets
Each-way multi-bets are a combination of each-way bets. Essentially, the winnings from the first bet fund the next bet. If the next bet hits, the trend continues for another bet.
With these bets, the potential winnings can be very high. However, they are very risky, as one missed bet will leave you with nothing to show for the entire process.
Alternative Each-Way Bets
In some cases, you can find alternative each-way bets. These offer more options regarding the number of places that pay out.
For example, the most common NHL place wager is just a bet on the final two contenders for the Stanley Cup. However, by extending the number of paid places, you can cover all the teams participating in the playoffs and potentially increase your payout in turn.
Conclusion on E/W Betting
Properly taking advantage of this unique form of betting lets you hedge your bets, possibly give you better odds, and offers the ability to turn certain situations to your advantage. By leveraging E/W betting correctly, you have more power over your sportsbook picks, and can still turn a profit for going close with a selection without actually winning.
Each-Way Betting FAQs
What Is Betting Each-Way?
How Does Each-Way Betting Work?
What Does Place Mean in Each-Way Betting?
How Many Places Can Each-Way Go To?
Is There Value in Betting Each-Way?
What Does E/W Mean in Betting?
What Does E/W 1/4 5 Places Mean?
Must You Pay Double for an Each-Way Bet?
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