Recommend Article 2
You should understand that each-way betting involves placing two equally sized wagers. The first is on the horse winning the race, while the second is on the horse placing in the race. You can finish in any of the following places: 1st, 2nd or 3rd in certain types of races.
This way, you can understand each way betting by thinking of it as two separate bets.
Take this example
You can place a PS20 EW (each-way) bet on horse racing. The two bets you make are a PS10 on the horse winning and a PS10 on the horse finishing in the places. So the total cost of these bets is PS20. It is easy to understand the win portion of the bet. This is similar to placing a PS10 bet on the horse to win. The place portion of your bet is settled by the bookmaker. This is dependent on the race you are placing your bet in. Here are the rules of how each side bets are settled by the bookmaker.
2-4 Runners – No place betting allowed
5-7 runners – 1st and second pay 1/4 of the odds
8+ Runners – 1st, 2nd, and 3rd Pay 1/5 of the Odds
12-15 Runner Handicap Racing – 1st to 3rd pay 1/4 the odds
16+ Runner Handicap races – 1st to 4th pay 1/4 of odds
As you can see, races with more than 4 runners are win-only (so Bookmakers do not offer each-way betting).
Also, handicap races are treated differently. In theory, all horses have different weights. An Official Handicapper compiles the ‘weighting process’ and it is his responsibility to ensure that all horses finish in a straight line. Forecasting the horse that will be placed in the race is a more difficult task. The handicapper might make mistakes with one or two horses, but not with the entire field. Bookmakers also offer better place terms for Each Way Betting in handicaps. One quarter of the odds are offered instead of one fifth, and they usually offer an additional place position in fields with more than 16 runners (1st-2nd, 3rd, and 4th).
Example of an Every-Way Bet
You place a PS10 EW wager on Loopylu at Newmarket at odds 10-1. The race is an 8-runner race, non handicap. Therefore, the EW terms for 1st, 2nd, or 3rd place are 1/5.
The PS20 stake will be taken out by your bookmaker (remember, PS10 EW is TWO PS10 Bets). The first bet is a PS10 win at odds 10-1. The second bet a PS10 bet with odds of 2-1. (2-1 being 1/5th of 10-1) The second bet is for Loopylu’s finish (i.e. 1., 2., or 3.
There are three possible outcomes to this bet:
1. Loopylu doesn’t win or place
Loopylu finishes at the bottom of all three places (i.e., 1st, 2nd and 3rd). 4th or worse. If this happens, you will lose both your PS10 win bet as well as your PS10 place betting. In this instance, the total loss would be PS20.
2. Loopylu Wins, but Not in the Places That Loopylu Wants
Loopylu finishes second or third, but does not win. There is no distinction between 2nd or 3rd, they are the same. They are both “a spot”. If this happens, keep in mind that your PS10 EW wager is split into two (PS10 place and PS10 win), and your win bet on PS10 has been lost. Your PS10 win stake will remain with the bookmaker. Your PS10 place bet won, and your return at 2.1% (2-1 being 1/5 of the odds) = PS30. This is PS20 profit and your original PS10 stake. The overall profit from this bet is PS10, since you staked PS20 (PS10EW) and got PS30 back.
3. Loopylu wins the Race
Loopylu wins, then your bets will win. A win counts as a place (either 1st, 2nd, or 3rd).
If Sbobet happens, the win portion of your bet will return PS110. PS100 profit at 10-1, and your original PS10 stake.
Your place bet also won, and as explained in number 2, that bet returns PS30 (PS20 profits and your original PS10 place stake).
The total return is PS140, i.e. PS120 profit and original PS20 stake.
Bookmakers sometimes offer enhanced terms for races with more than 16 runners. One example of this is the Grand National, which has more than 30 runners. Many bookmakers offer 1/4 off odds for horses finishing 1st to 6th.
After explaining the basics of horse racing betting, I’d like to highlight that placing Each Way Single Bets is not the only way to bet.