Michael McKean is an experienced writer with a portfolio that includes work on the subjects of sport, gambling, travel and finance. With a background rooted in journalism, Michael first ventured into the professional writing world based in Switzerland, where he wrote for a number of language and travel sites and magazines before moving into the world of sports writing and gambling sites.
As an avid soccer fan, who follows everything from the Scottish lower leagues to the European elites, he has earned himself a solid reputation as a reliable football betting tipster and predictor. Outside of work, Michael has always gotten involved with grassroutes football everywhere he has worked and lived - UK, Spain, Portugal, Switzerland and Brazil - and still isn’t shy when it comes to pulling the boots on himself. As well as soccer, he has also developed a love of North American sports, particularly ice hockey - a love which began in Switzerland and saw him venture across the pond to follow the NHL. Moving away from dry land, he’s also a keen longboard surfer and is happiest when writing with a view of the ocean.
In our quest of educating you on the several ways to earn from betting, it is imperative that we get each way bet explained. Each Way Bet essentially combines two bets into one. When you place an each way bet, you are actually placing a Win bet and a Place bet. It basically provides bettor with a privilege to get return when they their selection wins or come close to winning. Let us see how it works.
Fact about Each Way Bet
Each way bet essentially combines two bets into one: A Win bet and a Place bet.
Winnings for the bet are calculated by applying an each way fraction to the odds available.
The initial stake is doubled in an each way bet because you are making two bets.
Each Way Bet Explained In-Depth
Each way bet is another betting type which consists of two bets namely: a win bet and a place bet. An each way bet is most common in horse racing, in which case you hear such thing as each way horse bet. However, it is applicable to other sports like football, gulf, etc. each way betting is a very lucrative form of betting for punters and most importantly, it affords the bettor one major benefit above all.
For every each way bet, a punter is able to make two wagers in one. Having each way bet explained properly can help a punter discover the potentials and benefits that this betting type provides. The Win bet supports the win while the Place bet supports the selection to be either amongst ‘places’, which are stated by the bookmakers. An example of this can be 1st, 2nd, and 3rd position.
We mentioned earlier that the odd for the Place bet is a fraction of the win bet odd in an each way bet. This fraction will most likely vary from one sport to another, from one event to another even for the same sport. However, the each way odds will always be displayed where Each Way betting is available to punters.
For a better understanding of Each Way bet, we will explain it under two major sports: Each Way Horse Bet, and Each Way Bet Football.
Each Way Horse Bet
Each Way betting is actually more prevalent in horse racing betting. There are each way betting rules that must be observed and remembered whenever you are betting each way. The fact that each way bet comprises of two bets implies that punters must double their stake. In return, your selection wins or it places, you will still receive a return on your each way bet. Each way horse bet is best explained using example.
In a horse racing, let assume put an each way bet of $10 on Peppers Pride. The bookmaker put the odds at 10/1 and the place fraction as 1/5 (this is the each way bet odd). Your total bet amount is actually $20 as $10 goes for the Win bet and another $10 for the Place bet. The win bet means that Peppers Pride will end the race in first place. The place bet gives more insurance that even if Peppers Pride does not finish the race first, but second or third, you will still win your place bet with 2.00 each way bet odds, after applying the place fraction of 1/5. If Peppers Pride finishes first, you get $110 return ($100 profit at odds 10.00 and $10 stake return). If Peppers Pride finishes second or third place, you are still covered. You make $30 return ($20 profit 2.00 each way bet odds and $10 stake return). However, if Peppers Pride fails to finish in the top three places (first, second, and third), the punter loses a total of $20.
The Each Way betting is very much applicable to soccer. Let us explain Each Way Bet Football using an example. Each Way betting in soccer is a very reasonable option especially for those who prefer a more engaging and longer term options such as league winners or cup winners. In a football, Each Way betting presents a very favorable package for punters as it offers a little backup plan to the main bet. In much simpler terms, Each Way bet football makes it so that you can bet on your favorite club to win a league and still cover yourself to a reasonable extent in case this doesn’t happen. We can say its betting favorites on a longer term with a backup plan. Let us dive deeper in explaining each way bet football with the examples below.
Example 1: You bet on LA Galaxy with $20 at odds of 10/1 each way odds 1/5 1-2-3. LA Galaxy eventually came first. In this example, both Win bet and Place bet win. The payout is calculated by adding the two bets:
First bet on the club to win: $220 return ($200 profit & $20 stake);
Second bet on the club to place: $60 return ($40 profit & $20 stake. The original 10.00 odds become 2/1 when the each way odds of 1/5 is applied).
Example 2: You bet on LA Galaxy with $20 at odds 10/1 each way odds 1/5 1-2-3. LA Galaxy finishes MLS second. In this example, only the Place bet wins. The winnings comprised only the second bet:
First bet on the club to win: This bet loses.
Second bet on the club to place: $60 return ($40 profit & $20 stake. Again, the original 10.00 odds became 2.00 when the each way odds, in fraction, ½ gets applied).
Example 3: You bet on LA Galaxy with $20 at odds 10/1 each way odds 1/5 1-2-3. The club finishes fourth in the league. In this example, neither bet wins. There are no winnings in this bet:
First bet on the club to win: This bet loses.
Second bet on the club to place: This bet loses also because LG Galaxy did not finish the MLA in the first place, second, or third.
Each Way Bet: Is it worth it?
It is advisable for punters to explore the each way bet option when it is firmly believed that the odds are greater than or at least equal to 2.00. With each way betting rules well-observed, each way bet is popular because it increases bettors’ chances of winning. Realistically, one best practice in each way bet is that you should not make bet less than $2 and this is why. Each way bets above $2 will afford bettors to still be in profit as the place bet return will be able to take care of loss incurred from the win bet, supposing place bet wins. The logic is simple. The greater the starting price you put on your selection, the greater the return you will make if the selection landed a Place finish.
Which Bookmakers Offer the Best Each Way betting?
Each Way Bet offer a form of insurance betting as it comprises of a Win bet and a Place bet. This means that you are still guarantee some return on your bet if your selection comes close to winning the bet. We have taken the due diligence to scout the best sports bookies for each way bet option and all you need to do is to visit our sports betting comparison page and decide which sports bookie best suit your interests. This concept of coming close to winning is expressed in places, mostly second and third. Each way betting rules will state each way fraction, the betting odds, and the number of places for the Place bet. Remember to grab any bonus offers before betting - we'd suggest you take a look at the recent DRF bonus code and regular 888sport promotions.
Each way bet allows you to place a Win bet and a Place bet at the same time. Win bet predicts that your selection will finish first and the Place bet will finish not first but close to first. It may be second and third, or second, third, and fourth. Each way betting rules will state the number of places as well as each way fraction that comes with the Place bet. So, why not quickly visit our Sports Betting Comparison page to see the sports bookies that offer the best odds you can ever get for each way bet.