Each-Way (EW) betting is a popular form of wagering, especially in horse racing, which allows a punter to bet on both the win and the place of a selection. It’s essentially two bets in one: the first one backs the selection to win, and the second bet backs it to finish in one of the pre-determined placing positions, which could be first, second, third, or even more, depending on the terms of the race and the number of runners.
How Does Each-Way Betting Work?
Consider horse racing as an example. If you bet $10 each way on a horse named “Galloping Thunder,” you’re placing $10 on it to win and another $10 on it to place. So, your total stake is $20.
Now, if “Galloping Thunder” wins the race, both parts of your bet win. You would receive the full odds payout for the winning portion of the bet, and a fraction of the odds (often 1/4 or 1/5) for the placing portion. However, if “Galloping Thunder” finishes second or within the predetermined placing positions but doesn’t win, you lose the win part of your bet but still get a payout for the place part.
How To Use Each-Way Calculator?
An Each-Way Calculator simplifies the process of determining potential returns on each-way bets.
Input Selection Odds: Enter the odds offered by the bookmaker for your selection.
Stake: Input the stake you want to bet each-way (remember, your total stake will be double this amount).
Place Terms: Choose the fraction of the odds that the bookmaker is offering for a place finish (often 1/4 or 1/5).
Result: The calculator will display two potential outcomes – the potential return if your selection wins, and the potential return if your selection only places.
Imagine you bet $10 each way on “Galloping Thunder” at odds of 10/1 with place terms of 1/4 for the first three places. Using an Each Way Calculator:
If “Galloping Thunder” wins: You’d receive $110 (10 x $10 + your $10 stake) for the win, and $27.50 (10/1 x 1/4 x $10 + your $10 stake) for the place, totaling $137.50.
If “Galloping Thunder” finishes second or third: You’d lose your $10 win stake but receive $27.50 for the place.
No, each way betting can be used in other sports and events where there are multiple potential winners or placements, such as golf tournaments or cycling races.
No, it can vary between bookmakers and races. Always check the terms before placing your bet.
Typically, if your selection doesn’t participate in the race (a non-runner), your stake will be refunded.
In the event of a dead heat, where two or more selections cannot be separated for a placing position, your stake is divided by the number of runners involved in the dead heat. You then receive a full odds payout on this reduced stake. For example, if two horses dead-heat for first place and you have an each-way bet on one of them, you’ll get half the stake at full odds for the win, and the full stake at the reduced odds for the place.
While most races allow for each-way betting, it’s essential to check the specifics of the race and the bookmaker’s terms. In races with a very small number of runners, bookmakers might not offer each-way betting, or they might alter the place terms.