An each-way bet consists of two parts: a win bet and a place bet. If the horse wins, both parts pay out. If the horse places (finishes in one of the top specified positions), only the place part pays out, often at a fraction of the odds.
How Does Each Way Betting Work?
An each-way bet doubles your stake as it covers two outcomes: the horse winning and the horse placing. The fraction paid out for placing depends on the bookmaker’s terms and the race type.
Why Are Each Way Bets Popular?
Each way betting offers a safety net for bettors. Even if the horse doesn’t win, you can still receive a return if it places. This makes it particularly appealing for larger fields or longer-odds selections.
Example of Each Way Betting
A £10 each-way bet on a horse at 10/1 costs £20 (£10 for the win and £10 for the place). If the horse wins, you receive payouts for both parts of the bet. If it places, you receive a smaller payout based on the place odds.
Related Terms
- Place Bet: A bet solely on the horse finishing in one of the top positions.
- Handicap: A race where weights are assigned to level the playing field.
- Course and Distance (CD) : Indicates a horse has previously won at both the same course and distance.