Each-way betting is one of the most popular forms of wagering, particularly in horse racing, but it also applies to football, golf, greyhound racing, and other sports. It gives bettors a way to cover multiple outcomes with a single stake and provides a safety net if their selection doesn’t win outright.
But what exactly is an each-way bet, how does it work, and when should you consider using it? Let’s break it down step by step.
What is an Each-Way Bet?
An each-way bet is essentially two bets in one:
- Win Bet – You are backing your selection (a horse, team, or player) to win the event outright.
- Place Bet – You are betting on your selection to finish in one of the specified “places”, such as the top 2, 3, 4, or more, depending on the bookmaker’s rules.
Example: If you place a £10 each-way bet (total £20) on a horse at 10/1 odds:
- If the horse wins, you get paid on both the win and place bets.
- If the horse only places, you lose the win part but still get a return from the place bet (usually a fraction of the win odds, like 1/4 or 1/5).
This makes each-way betting especially attractive in large competitive fields, where winning outright is difficult but placing is realistic.
How Does an Each-Way Bet Work in Practice?
Placing an each-way bet on Hehe555 online casino is straightforward:
- Choose your event and selection (e.g., a horse at Cheltenham, a golfer at The Masters, or a football team in a tournament).
- Select the “Each-Way” option on your betting slip.
- Confirm your stake. Remember, the cost is doubled because you’re placing two bets. A £5 each-way bet means a total outlay of £10.
- Check the bookmaker’s terms for place fractions (usually 1/4 or 1/5 of the odds) and how many places are paid.
How Many Places Are Paid on an Each-Way Bet?
The number of places that qualify for payout depends on:
- Sport and event type
- Number of competitors
- Bookmaker’s terms
Horse Racing Standard Terms:
- 5–7 runners → Win only (no each-way terms offered)
- 8+ runners → 1/5 odds for top 3 places
- Handicaps with 12+ runners → Often 1/4 odds for top 3 places
- Major races (e.g., Grand National) → Top 4, 5, or even 6 places, depending on promotions
Other Sports:
- Golf → Each-way bets are prevalent, especially in majors, with bookmakers often paying out up to the top 8–10 places.
- Football → Usually applied in outright markets like tournament winner or top goalscorer, with payouts often covering the top 2–4 finishers.
Extra Places & Enhanced Each-Way Terms
One of the most significant advantages for punters comes from bookmaker promotions:
- Extra Places: Bookmakers may offer payouts on more places than standard terms (e.g., top 5 instead of top 3).
- Enhanced Odds + EW Terms: Some bookies boost odds or increase the fraction of odds paid on places (e.g., 1/3 instead of 1/5).
These offers are especially popular during major betting festivals like the Cheltenham Festival or Royal Ascot, where competition between bookmakers is fierce.
Is an Each-Way Bet Worth It?
The value of an each-way bet depends on several key factors at Hehe555 Casino:
- Field Size & Number of Places Paid – The more places offered, the safer your bet.
- Odds of Your Selection – Each-way betting is better value on outsiders or longer odds selections. Betting each-way on a short-priced favorite rarely makes sense.
- Competitiveness of the Event – In big, unpredictable fields, EW bets help reduce risk.
- Promotions – Always check for extra places and enhanced EW terms, as these can turn an average bet into a strong value play.
Do You Break Even if Your Selection Only Places?
Not always. Whether you make a profit, break even, or lose depends on:
- The odds of your selection
- The place fraction (1/4, 1/5, or 1/3)
- Your total stake
👉 Example:
- £10 each-way (£20 total) on a 5/1 horse, place terms 1/5 odds for top 3.
- If horse places only: Payout = £10 at 1/1 = £20 (you break even).
- If the horse is odds-on or short-priced, your place return might not cover the full stake.
This is why each-way betting works best with bigger odds, where the place payout still offers meaningful returns.
Each-Way Betting in Major Events: Cheltenham & Football
Horse Racing (Cheltenham Festival Example)
The Cheltenham Festival is a paradise for each-way bettors:
- Huge fields with highly competitive races
- Bookmakers offering extra places and enhanced terms
- Opportunities to back long-odds horses with realistic chances of placing
Football Betting (Outrights & Specials)
While not as everyday as in racing or golf, each-way football bets can apply to:
- Tournament winner (e.g., Euro 2024, World Cup)
- Top goalscorer markets
- League outright winners or top 4 finish markets
Tips for Smart Each-Way Betting
- Always compare bookmakers for the best place terms.
- Use each-way betting for outsiders or large-field events.
- Take advantage of extra place offers.
- Avoid short-priced favourites each-way, as the place return may not be worth it.
- Keep track of value odds—sometimes backing two selections each-way is better than one big win bet.
- Choose one of the best betting platform that increases your accuracy.
Final Thoughts: Should You Use Each-Way Betting?
Each-way betting is a smart strategy for punters who want to reduce risk and increase chances of a return in sports betting. By understanding how each-way bets work, knowing how many places are paid, and making the most of enhanced terms, you can make more informed decisions.
Whether you’re betting on the Cheltenham Festival, a major golf tournament, or outright football markets, each-way betting can add real value to your strategy—especially when combined with expert picks and bookmaker offers.