What Does "Each Way" Mean in Betting?
An
each way bet is essentially two separate bets combined into one:
1.
Win bet - Your selection must finish first
2.
Place bet - Your selection must finish in a specified placed position (usually 2nd, 3rd, or 4th depending on the event)
How Each Way Works
- You stake double your intended amount (half on win, half on place)
- If your selection wins, both parts pay out
- If your selection only places, you get the place portion at reduced odds (typically 1/4 or 1/5 of the win odds)
Example
- £10 each way bet = £20 total stake
- £10 on horse to win at 10/1
- £10 on horse to place at 1/4 odds (2.5/1)
If it wins: Win bet pays £100 + Place bet pays £25 = £125 profit
If it places 2nd/3rd: Only place bet pays £25 profit
Common Each Way Terms
- Races with 8+ runners: Usually 1/5 odds, places 1-2-3
- Races with 16+ runners: Often 1/4 odds, places 1-2-3-4
- Major handicaps: Sometimes extend to 5th or 6th place
Each way betting is popular for horse racing and golf, where it provides insurance against your selection narrowly missing out on winning. Most UK bookmakers like
Bet365,
William Hill, and
Paddy Power offer each way betting with clearly displayed terms.