What is a Each Way Bet? Each Way Bet Explained
The each way bet is a single selection wager consisting of 2 equal parts: a win bet and a place bet.
The total stake is split across the two bets, and the outcome of a single event determines the return. The "to win" bet is settled as a straightforward single bet with 50% of the original stake e.g. £1 of a £2 bet. The remaining 50% is staked on the "to place" portion of the bet. This portion is successful when the selection finishes in the top X number of places where X varies depending on the sport, the number of competitors/runners and any bookmaker specific promotions that may be available.
The return on a successful "place" bet is also reduced relative to how easier it is to place than win outright. The reduction is expressed as a fraction by bookmakers for each event where place betting is available.
Winnings can be worked out manually but our each way calculator is the quickest option.
Choosing a winner will always generate a profit. However, a selection that places but doesn't win could generate an overall loss depending on the odds and place terms.
How many places are each way?
Each bookmaker sets the number of places available for an event. Bookmakers often run promotions where they increase the number of places or improve the reduction fraction e.g. from 1/5 to 1/4.
The adjacent screenshot shows how places and reduction fractions are displayed when betting online. In this example, the reduction fraction is 1/4, and the number of places is 2 (1-2). Both values have been set by bet365.
The "E/W" notation highlighted in the screenshot is a commonly used abbreviation for "Each Way" across online bookmakers.
Each Way Examples
The horse racing result below is used in the proceeding examples:
Runner |
Finishing Position |
|---|---|
Runner One |
1st |
Runner Two |
2nd |
Runner Three |
3rd |
Runner Four |
4th |
The example race has 2 places and a reduction fraction of 1/3.
Winning
Assuming a total stake of £2 on "Runner One" at odds of 2/1, the winnings would break down as follows:
- "To win" bet of £1 = £1 * (2/1 + 1) = £3 returned
- "To place" bet of £1 = £1 * ((2/1 * 1/3) + 1) = £1.67 returned
- Profit = Total Returns - Stake = £4.67 - £2 =£2.67
Placing
Assuming a total stake of £2 on "Runner Two" to win at odds of 2/1, the winnings would break down as follows:
- "Runner Two" failed to win, resulting in a £1 loss
- However, the "to place" bet of £1 won = £1 * ((2/1 * 1/3) + 1) = £1.67 returned
- Profit/loss = Total Returns - Stake = £1.67 - £2 = £0.33 loss
Losing
Assuming a total stake of £2 on "Runner Three" the returns would break down as follows:
- The bet of "Runner Three" to win has lost, and the place bet has also lost because the runner didn't finish in the top 2.
- Profit/Loss = Returns - Stake = £2 loss
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Also See
Each way bet calculator - Work out your each way betting returns no matter what the outcome. Supports all possible scenarios. Fast and easy to use, with winnings updated automatically as you enter the details.
What is a single bet? - Same as an each way minus the place portion of the bet. Visit the page for an explanation and example detailing how winnings are calculated.
What is a double bet? - Found an additional selection you'd like to incorporate into your bet? The double may be the way to go. Visit the page for an explanation and sports examples detailing how winnings are calculated.
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