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Each way bets, abbreviated as E/W or EW, are very common in horse racing. However, many bookmakers also avail them for golf and football.
What does this bet entail, what does it cost, and how does it work? Find out all about that in this review.
What Is An Each Way Bet?
An each-way bet is made up of two bets of equal cost. These are a winning bet for your selection to win the event and a place bet on your selection to win by a certain number of places. The number of places is specified by the bookmaker beforehand.
How Does The Each Way Bet Work?
As discussed above, each way bets have two parts; the win and the place.
The win
The win bet wins if the selection wins the event it’s competing in. If your selection takes the day, the win and place parts of your each-way bet pay a return.
The Place
The place bet wins if your selection finishes with a specified number of places. If your choice takes the day, only the place bit of your bet wins a return.
How Much Does An Each Way Bet Cost?
Every each way bet will cost you double its value. This is because you stake a similar amount on the win and the place when wagering. So if you place a $10 each way, you will have $10 on the win, and another $10 on the place, totaling $20.
What Is An Each Way Multi-Bet?
An each-way multi-bet is essentially a series of each-way bets. Here, the winnings of the first leg of the bet are reinvested into the next leg. This goes on until the bet results in a win or failure due to an unbacked outcome.
Each leg placed consists of equal staking on a horse to win and to place. At the very least, a horse must place for an each-way multi-bet to keep progressing. A multi-bet automatically loses the minute a runner fails to run a place.
Each Way Betting In Football
Each-way betting is possible in football, though it’s not as common as in horse racing, tennis, and golf.
In football, each way betting can be offered when determining the winner of a tournament, league, or cup, where finishing places can be determined.
Football each-way bets can offer much better value than you would get with 1×2 bets. They are also an excellent choice in scenarios where you do not necessarily want to back the favorite but have some confidence that your selection will perform well, even if they do not win the match.
How Do I Decide If An Each Way Bet Is Worth It?
Just like other bet types, some each-way bets are more worthwhile than others.
One way to make this determination is the number of places, more so in horse racing, where the number of each way places on offer can differ. Look for combinations of field sizes and each-way terms that offer the most attractive bets.