If you’re new to the world of horse racing betting in the UK, the vast number of terms and bet types can feel overwhelming. Among them, the each-way bet stands out as a popular and beginner-friendly option. It’s often seen as a safer route into racing betting, especially when you’re still learning the ropes. But what exactly is an each-way bet, and why might it be a smart choice for newcomers?
What Is an Each-Way Bet?
An each-way bet is essentially two bets in one: a win bet and a place bet. When you place an each-way bet, you are betting on your chosen horse to either win the race or finish in one of the top positions, known as “places.”
Let’s say you put £5 each way on a horse – that’s £5 on the horse to win and £5 on the horse to place, making a total stake of £10.
The number of places that count depends on the number of runners and the type of race. For example, in a race with 8 or more runners, the top 3 places usually qualify. For races with fewer runners, it may be only the top 2. Bookmakers often enhance the place terms for major events like the Grand National or Royal Ascot, offering payouts for more places.
How Are Each-Way Winnings Calculated?
If your horse wins the race, both the win and place parts of your each-way bet pay out. If the horse only places, you lose the win part but get a return on the place part at a fraction of the odds—typically 1/4 or 1/5, depending on the race and bookmaker.
For example, suppose you place a £5 each-way bet (£10 total) on a horse at 10/1, and it finishes second. You’d lose the win portion but win the place portion at 1/4 of 10/1 (which is 2.5/1). That means you’d win £12.50 plus your £5 stake back, totalling £17.50.
Why It’s Great for Beginners
Each-way betting offers a buffer for those still finding their footing in horse racing. Rather than needing your horse to win outright, you can still walk away with a return if it places. This reduces the sting of near misses and helps you stay in the game longer while learning more about form, jockeys, and race conditions.
Tips for Using Each-Way Bets Effectively
- Use it on longer odds: Each-way bets work best on horses with decent odds (typically 8/1 or higher), where the place return is worthwhile.
- Check the place terms: Always read the bookmaker’s terms—some offer better place payouts for specific races.
- Don’t use for short favourites: Betting each-way on a 2/1 favourite isn’t cost-effective as the place return is very small.
Final Thoughts
For anyone new to horse racing betting, the each-way bet is a gentle introduction that balances risk and reward. It’s a solid way to build confidence, gain experience, and increase your enjoyment of the sport—all without relying on your pick crossing the line first.