"Both ways" in betting refers to
each-way betting, which is essentially two separate bets combined into one:
How Each-Way Betting Works
1. Win Bet: Your selection must finish first
2. Place Bet: Your selection must finish in a specified placing (usually top 2-4 positions)
You pay
double your stake because you're making two bets. For example, a £10 each-way bet costs £20 total (£10 win + £10 place).
Payout Structure
- If your selection wins: You get paid for both the win and place portions
- If your selection places but doesn't win: You only get paid for the place portion (typically at 1/4 or 1/5 of the win odds)
- If your selection doesn't place: You lose both bets
Common Applications
- Horse racing: Most popular use case
- Golf tournaments: Often paying 1/4 odds for top 5 finishes
- Football tournaments: Top goalscorer markets
Where to Find Each-Way Betting
Reputable UK bookmakers offering comprehensive each-way markets include:
Each-way betting is particularly valuable when you fancy an outsider with good place prospects, as it provides insurance if your selection narrowly misses winning.