Each-Way: Information from Answers.com

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An each-way bet is a wager offered by bookmakers consisting of two separate bets; a win bet and a place bet. For the win part of the bet to give a return the selection must win or finish first in the event. For the place part of the bet to give a return the selection must either win or finish in one of the predetermined 'places' for the event. The odds paid on the place part of the bet are usually a fraction (commonly $\tfrac{1}{2}$ , $\tfrac{1}{3}$ , $\tfrac{1}{4}$ or $\tfrac{1}{5}$ ) of the win odds. Examples are domestic football knockout competitions (e.g. FA Cup) where the quoted place terms may be $\tfrac{1}{2}$ the odds a place 1,2 and horse racing where the quoted place terms may be $\tfrac{1}{5}$ the odds a place 1,2,3.

1 Staking
2 Settling the bets
- 2.1 Example 1
- 2.2 Example 2
3 See also
4 External links

Staking

Because an each-way wager comprises two bets, the total staked is twice the unit stake. For example, a £5 each-way single would cost £10, as indeed would a £5 each-way treble comprising as it does of a £5 win treble and a £5 place treble.

Settling the bets

Calculation of returns uses either decimal odds or (fractional odds + 1).

Example 1

£50 each-way on a football team 'to win the cup' at 9-2 and $\tfrac{1}{3}$ the odds a place 1,2.

Returns for the win part of the bet would be £50 × 5.5 = £275
Returns for the place part of the bet would be £50 × 2.5 = £125
If the team 'won the cup' the total returns would be £275 + £125 = £400 and if the team was beaten in the final the returns would be £125. If the team did not reach the final the wager would be lost.

Example 2

A £10 each-way single on a 10-1 selection in a horse race and paying $\tfrac{1}{4}$ the odds a place 1,2,3 would cost £20.

Returns on the win part of the bet would be £10 × (10/1 + 1) = £110
Returns on the place part of the bet would be £10 × (10/4 + 1) = £35
Total returns would be £110 + £35 = £145 if the horse won the race, but just £35 if the horse only finished second or third.

External links

Each-Way Betting Explained A good explanation of how each-way betting works
Place odds for horse racing, industry rules for place odds in each-way horse racing bets

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Each-Way

Contents

Staking

Settling the bets

Example 1

Example 2

See also

External links