In sports betting, you can utilize a lot of different types of bets. An individual selection in a bet is often categorized as a market. Some of these markets are universal while some are specific to particular sports.
The reason we’re going back and forth between bets and markets is that we have a special type of bet for discussion today. It’s each-way betting.
In this post, we’re going to learn what each-way betting means, how it works, and how you can profit from this kind of bet.
If we break the term “each-way” down, it somewhat means that you can win in more than one way. This particular type of bet is generally considered for horse racing.
Essentially, an each-way bet includes the winning position as well as a few other positions for your candidate. You need to place an equal amount of money for each of the “ways”. These bets are excellent if you want to insure up to a certain position in the race.
Although you’re spending double of what you initially intended, you don’t actually lose any money in the each-way bet. Unless, of course, your candidate comes in last or lands at the end of the table.
As you can see, having multiple placement options is mandatory for each-way bets to work. That’s why it can only be used for sports that allow such scoring systems. In general, these bets are mostly associated with horse races. But if you consider the dynamics, you can place each-way bets for greyhound racing, golf, as well as motorsports.
However, whether you get the option to place each-way bets or not will depend on the bookmaker you’re choosing for your betting needs. The good news is that the majority of modern bookmakers offer it.
As we already said, an each-way bet includes 2 bets of equal value. So, if you’re planning to bet $10, you’ll ultimately need to spend $20. Now, you might be wondering why would someone want to spend double the money than they initially intended to, right?
The great thing about each-way betting is that if your selected candidate wins the race, you not only get paid for the win bet but also for the place bet!
However, if you only win the place bet, you’ll get the payouts for that part of the bet only. The other part of the bet is considered lost. It might sound like a drawback but in most cases, the odds for the place bet will easily cover the win bet. So, you won’t incur any real money losses in the end.
That’s a very good question. And there is no fixed answer for this. It comes down to whether your chosen bookmaker offers each-way or not as well as what its policy is.
From what we’ve seen, most of the bookmakers pay for up to 3rd positions. Many user-oriented brands pay extra places, so you can expect to get paid for up to the 4th or even 5th position. Whatever it is, it should be clearly stated in the T&C section of the website.
We know how tedious reading the terms and conditions can be but we encourage you to do it every time so that you and the sportsbook are on the same page.
How many places you can expect to get paid for also depends on how many runners there are in the race. If there are only 6 or 7 runners, it doesn’t make sense for the bookie to offer payouts up to the 4th place.
So, you’re sold on the idea of placing each-way bets, aren’t you? You might now be wondering how you even start with it. Well, let us walk you through the process very quickly.
The first task is obviously to make sure that you can even place the each-way bet. Most bookmakers that offer it automatically market it prominently. In case you can’t find any information on the website materials, you can just go ahead and ask one of the customer support agents. Most betting apps listed on our website offer this betting market
You can’t place a bet at any of the bookmakers if you don’t have a valid account first. So, after you’re certain that you can place each-way bets, you need to register an account with the bookmaker. Make sure you provide all the legit information in the form because the account is subject to verification. Don’t forget to claim a welcome offer most bookmakers offer. See a list of best new customer betting offers on our website.
The last element you need before you can start with each-way betting is real money in your account. You should consider the payment methods you can use even before you sign up. Any sensible bookie will list all the payment methods along with all the limits.
Once you have the funds in your account, all you have left to do is add each-way bets to your bet slip. Select the horse race or dog race you’re targeting and add up to the place you think the horse may place and add money to it.
Keep in mind that your bet will be doubled and then split into two different outcomes. Now that you know how each way betting works, we believe you’re ready to explore your own horizon.
Before we split and go our own ways, we’d like to share some tips we’ve picked up during our time in the iGaming industry.