What Does Each Way Mean in Betting?

Each way betting is one of the most intimidating markets at any online sports betting site. However, it is quite straightforward once you have some experience. To help you get up to speed, we have created a guide explaining what each way means in betting.

Betting each way is a wager with two components, requiring you to wager two stakes. If we are talking about horse racing, the first part is on a runner to win. You will only receive a payout if your selection wins the race. The second part requires the horse to finish in the top five positions. You will receive the maximum payout if your horse finishes first and a smaller payout if they come second, third, fourth, or fifth.

What is Each Way Betting?

If you are not completely sure what we mean by each way betting, allow us to explain. When you place a typical wager, you only bet on one outcome. If you bet €25 on Munster to win, you only receive any winnings if Munster is successful on the day. Instead, betting each way offers insurance if your runner finishes in the top five positions.

However, the exact amount you can win from each way bets varies on a couple of factors. For starters, the field size will always affect the number of places on offer. Our online sportsbook will offer the top three places if there is a small field. For a large field or important race, we have seen up to seven places offered for each way betting. In both situations, the platform will clearly display how many places will result in a payout. Plus, you must be prepared to double the amount you stake to cover both parts of the bet.

The next aspect to consider is the returns. If you bet on a horse and it wins the race, they stand to make exactly the odds as displayed. For example, when you bet on a runner at 10/1, you will receive ten times the value of your stake. However, the places portion only returns one-fifth of the displayed odds if successful. Usually, this results in players making less than they expected.

Horses jumping over a fence

What is an Each Way Bet

While an each way bet is a no-brainer for most punters, it may sound confusing to new players. The best way we can accurately explain this type of wager is with an example.

  • Say you wanted to bet each way on the Grand National. I Am Maximus is listed at 10/1, so you place a €10 wager each way.
  • This will cost you €20 in total as you are betting ten on the horse winning the race and ten on it placing in the top five places.
  • If he wins the race, the amount you win is €140. That includes your €20 stake across the two bets.
  • A €10 bet at 10/1 will give you €100 in profit plus your ten euros back.
  • The next part also comes into effect as I Am Maximus finished inside the top five.
  • They split the 10/1 odds into one-fifth of their original value, which is 2/1 in this example. A €10 bet at 2/1 returns €20 in profit and your €10 stake.
  • That means part one of your wager returns €110 in total and part two returns €30.
  • Altogether, that makes €140.

However, let’s say the horse finishes in second place. How much would you win?

  • Part one of your bet fails as I Am Maximus did not win the race.
  • The only part that kicks in is the one-fifth of the original odds, leaving you with €30.
  • This means you only make €10 profit from your €20 bet.
  • These are the same returns if your horse finished in third, fourth, or fifth. You do not make more from each way betting unless your runner wins the race.

How Does Betting Each Way Work

The best way to think about betting each way is to consider it as two wagers. The first is a straightforward bet on the winner. If your horse wins the race, they multiply your stake by the odds displayed at Novibet. Part two requires the horse to finish in the top five places, unless stated otherwise or if the field is small. No matter where they finish in the top five, you will only get 1/5 of the odds.

To make an each way bet work, you must consider the likelihood of the horse winning and the odds. You will also need to figure out what 1/5 returns will look like. Once again, this may sound difficult, but there are a few tricks to remember.

If the runner has odds worth less than 5/1, then the second part of the each way bet will return the value of your stake. This is important because you will not make any profit if the runner finishes in the top five. If you want to know how betting each way works, then try to bet on horses with odds worth more than 5/1.

Size of Bet Odds Top 5 Odds First Part Returns Part Two Returns Total Returns
€10×2 5/1 1/1 €60 €20 €80 (€60 Profit)
€10×2 10/1 2/1 €110 €30 €140 (€120 Profit)
€10×2 15/1 4/1 €160 €40 €200 (€180 Profit)
€10×2 33/1 15/2 €340 €76 €416 (€396 Profit)
€10×2 50/1 10/1 €510 €110 €620 (€600 Profit)

How to Calculate Each Way Bet

Anyone who wants to calculate betting each way can use our handy bet slip. When you enter your selections at Novibet, you can choose each way and see how many places we are paying. You can then adjust the size of your stake to see how much you can make from each bet. This applies to straight-up bets and accumulators, meaning you do not need to work anything out for yourself.

However, let’s say you wanted to figure out some returns without adding wagers to your bet slip. What is the best procedure? Start with the odds for each runner. Obviously, the lower the odds, the more likely a runner is to win. If you see someone in the field with odds worth 3/4, they are not a suitable candidate for each way betting. Not only will you win less than the value of your bet if they win, but you will receive one-fifth of these returns when they come in the top five.

The higher the odds, the more you will win from both parts of the bet, but remember the rule of 1/5. If a runner has odds of 33/1, you do not need to work out exactly what one-fifth of 33 is. Instead, you can round down to 32 and divide by five, which is six. For this bet, you will make at least six times your stake if they place in the top five. If they win, then it will be 33/1 plus 6/1.

Is Betting Each Way Worthwhile?

Yes, betting each way on horse races or greyhounds is 100% worthwhile, depending on the runner. If you are wagering on the clear favourite, then each way is not the way to go. Instead, this wager offers insurance to anyone looking to bet on an outsider. It works by paying if they finish in the top five, and it does not handicap you if the horse wins the race.

If you only chose a bet on the top four places and they won the race, you would miss out on their displayed odds. Choosing a 100/1 horse that won would make €1,220 if you bet €10 each way. If you bet €10 on them finishing in the top five, you would only get €200. This market offers cover for backing an outsider but costs double the amount you enter as your stake.

To make betting each way worthwhile, you need to choose a horse that has a chance of winning the race and has odds that are still reasonable, even when you divide it by five. Anything less than 5/1 usually means you will not make any profit if the runner only comes in the top five. When above 50/1, it is doubtful the runner will win the race, so you are better off just backing them to place in the top positions.

Horses gallop on the racetrack

What Sports Accept Each Way Bets?

The two most common sports that accept each way bets include horse racing and greyhound events. However, you can also bet each way in some golf tournaments. That is because golf follows a similar format to racing events. There is a large field of individual competitors, and you can bet on golfers finishing in the top five, ten, or even 20 places.

While it is not a common wager, betting each way on golf events can be a lot of fun! Most major tournaments include real shocks, such as outsiders finishing in the top few places. An each way bet is a fantastic way to capitalise on these unusual outcomes and often includes fantastic returns.

Can I Make an Each Way Bet on Horse Races?

Yes, making each way bets on horse races is the most common use of this type of market. Each way betting became popular as players could maximise their options. Rather than just picking horses to win, punters can bet each way and receive a payout if the runner finishes in the top five positions.

The biggest obstacle new players must overcome is figuring out how much they can expect to win. As the bet requires two stakes, it’s difficult to understand how much each part of the wager returns. The key to remember is that a top-five finish will return one-fifth of the odds displayed. While this wager offers low returns when betting on the favourite, it remains a fantastic option for punters looking to make the best wagers on a horse race.