Each-Way Bets

An Each Way (EW) bet is basically two wagers:

1. A Win Bet
2. A Place Bet

This means that that your stake is split between win only and place only, so you will get a return even if your selection does not win.

Place Bets

The place bet is essentially a backup bet - on a horse, team or player almost winning - at lower odds. The specific rules for placing vary from sport to sport, but will be quoted with the list of odds in the form of: "Each Way 1/4 1,2,3". In this example, the place bet of your each way bet will pay out at odds of 1/4 of the win odds if your selection finishes 1st, 2nd or 3rd. However, if your selection finishes 4th or lower you will lose the bet.

However, not all races and sports will offer the same terms. In horseracing, it will depend on the number of runners and the type of race. The place fraction is either 1/4 or 1/5, and the number of places is normally from 2 to 4.

Other sports may vary considerably. In golf, the terms may be 1/4 1,2,3,4,5 offering you a return on your money if your selection comes in the top 5, whilst tennis tournaments may only offer you 1/2 1,2 meaning you will only win the place portion of your bet if you selected the losing finalist.

How It Works

The first thing to know about an each way bet is how the staking works. A £5 each-way bet means that you are making a £5 bet on your selection to win, and another £5 bet on it to be placed - a total of £10.

Example

You want to put a £5 each way bet on 'Nag's Head' to win the Derby at odds of 12-1, with each way terms of 1/4 1,2,3. There are three possible outcomes to this race:

1. Placed 4th or Lower

If the horse comes in 4th or lower, you lose the bet entirely.

2. Placed 2nd or 3rd

If the horse is placed (comes 2nd or 3rd), you will lose the £5 'win' bet, but will win the £5 'place' portion of your bet. This will be calculated based on the odds (12/1) and the place fraction (a quarter), meaning in this case the place odds are 3/1.

So the place bet wins £5 x 3 = £15 + your £5 stake back giving you a total return of £20.

Your £5 E/W bet (total £10) gave you £20 back in total = a profit of £10, being the net £15 profit on the place bet and £5 loss on the win bet.

3. Placed 1st

If Nag's Head won the race, then both bets will win (a place is 1st, 2nd or 3rd).

• The win bet pays at (12 x £5 = £60) + your £5 win stake back = £65
• The place bet pays as above, being £15 + your £5 place stake back = £20
• Overall you win £65 + £20 = £85 a total of £75 profit.