What Does Each-Way Mean in Betting?

An each-way bet is one of the most common bet types in horse racing and golf, but it can apply to many sports. In simple terms, an each-way bet is actually two bets in one: a bet on your selection to win, and a bet on your selection to place (finish in one of the top positions).

Because it’s split, the stake is doubled. A $10 each-way bet costs $20 — $10 on the win, $10 on the place. If your selection wins, both parts pay out. If your selection only places, you still get a return from the place part of the bet.

How an Each-Way Bet Works

Bookmakers set the number of places and the payout fraction for each event. For example, in a horse race with 10 runners, a bookmaker might pay 1/5 odds on the first 3 places.

• Win bet: Pays out in full if your horse finishes first.
• Place bet: Pays out if your horse finishes in the specified places, at the fraction of the odds.

Example: You place a $10 each-way bet ($20 total) on a horse at 10/1 odds. - If the horse wins: you win the win bet ($10 × 10/1 = $100 profit) plus the place bet ($10 × 10/1 × 1/5 = $20 profit). - If the horse finishes 2nd or 3rd: the win bet loses, but the place bet pays $20 profit. - If the horse finishes outside the places: both bets lose.

Each-Way Betting in Different Sports

Horse Racing

The most common use of each-way betting. Depending on the race type and number of runners, places usually pay 1/4 or 1/5 of the odds, covering the top 2–4 finishers.

Golf

Golf tournaments often pay each-way for the top 5–10 places. With large fields, this makes betting more attractive as your player only needs to finish near the top for a payout.

Other Sports

Bookmakers may offer each-way markets on sports like tennis or football tournaments, where “place” refers to reaching semi-finals or finals.

Why Use Each-Way Bets?

• Reduced risk: Even if your selection doesn’t win, you can still make a return.
• Value in outsiders: Backing long shots each-way can pay well if they place.
• More engagement: Keeps bets alive deeper into a race or tournament.

Key Takeaways

An each-way bet is essentially two bets: one to win, one to place. It’s popular in horse racing and golf because it balances risk and reward. Always check the bookmaker’s terms on how many places are paid and at what fraction, as this greatly affects your returns. Each-way betting is a smart tool for punters looking to get more out of long-shot selections.