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What Does Each Way Mean in Betting?
“Each way” in betting is a type of wager commonly used in sports like horse racing and golf. It consists of two separate bets:
- Win Bet: You bet on the selection to win the event.
- Place Bet: You bet on the selection to finish in one of the top positions, such as second, third, or potentially further down depending on the bookmaker’s terms.
If your selection wins, both the “win” and “place” bets pay out. If your selection only places, you win the “place” bet, but lose the “win” portion.
Example of Each Way Bet:
- Stake: $5 each way (total $10).
- Odds: 10/1 (win), with a 1/4 place terms for the top 4 positions.
If your selection:
- Wins: You win on both bets (win bet pays $55, place bet pays $17.50).
- Places: Only the place bet wins ($17.50).
- Doesn’t place: You lose both bets.
Alternative Insights:
- The terms for “place” (e.g., 1/4 or 1/5 odds, number of places paid) vary by event and bookmaker, so always check.
- “Each way” betting is especially popular when betting on underdogs with long odds, where placing is more achievable than winning.
Actionable Steps:
- Understand Terms: Review the bookmaker’s place terms for each event.
- Calculate Stakes: Remember, an each way bet doubles your stake since it includes two bets.
- Target Value: Look for opportunities where an underdog is likely to place, offering a better return on the “place” bet.
Each Way Bet Example:
An Each Way bet is actually two bets: A Win bet and a Place bet.
For example, a bet of $5 Each Way is a Win bet of $5 and a Place bet of $5.
This means that a $5 Each Way will cost you $10 to put on.
Example. If you have $5 each way on a runner paying $4.00 for a win and $2.00 for a place.
You will outlay $10.00 on your bet.
If your runner wins you will get paid $30.00
$20.00 from the win and $10.00 from the place.
If your runner runs second or third place you return will be $10.00
$0 for the Win and $10.00 from the Place.
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