Each Way in horse racing is a type of bet that covers both the possibility of a horse winning and placing. When you place an each-way bet, you’re essentially making two bets: one that the horse will win, and another that it will finish in one of the top positions, typically second or third, depending on the race and the bookmaker’s terms.
What Does Each Way Mean in Horse Racing?
An Each Way bet is split into two parts. The first part is a bet on the horse to win the race. The second part is a bet on the horse to place, meaning it must finish in one of the predetermined top positions (second, third, or sometimes even fourth). If the horse wins, both parts of the bet pay out. If it places, only the place part of the bet pays out, usually at reduced odds.
Why Is Each Way Important?
Each way betting is important because it offers a safety net for bettors. While the returns are lower if the horse only places, it reduces the risk compared to a win-only bet. This type of bet is particularly popular in races with larger fields or when betting on horses with longer odds, where the chance of winning might be lower, but a place is more achievable.
Examples of Each Way in Horse Racing
For example, if you place a £10 each way bet on a horse at 10/1, you’re actually placing two £10 bets: one on the horse to win at 10/1 and one on it to place. If the horse wins, you get the win payout and a place payout. If the horse only places, you still get a return, but only from the place part of the bet, typically at a quarter or a fifth of the win odds.
Related Terms
- Win Bet: A bet placed on a horse to win the race outright, without any option for placing.
- Place Bet: A bet that the horse will finish in one of the top positions, usually second or third.
- Show Bet: A bet in which the horse must finish in the top three positions to win, commonly used in U.S. racing.