When you’re placing a bet on the outcome of a horse race, what are your options? There are many different types of bets that you can make, and you should look out for what reviewed tipsters are suggesting.
However, it’s important to understand your options and what they could mean for your payouts.
In particular, we will look to answer one question: what is each-way betting? We’ll also discuss why or whether it is so important, and give some examples to help illustrate how it can be beneficial for gamblers. Read on for more information on this exciting type of wager!
What Is Each Way Betting?
We know you’ve heard it before, but before you go and place any money, it is crucial you understand the ins and outs of what you’re doing.
This is a type of wager that allows you to bet on the horse to either win or place. Essentially, you are making two bets to mitigate potential losses.
The ‘place’ portion of the bet pays out if your horse finishes in any of the predefined places for that event – usually either first or second place. However, it’s worth noting this is commonly bet at reduced odds, a fraction of the winning bet.
This means that you have two chances of winning with each way bets, as opposed to just one when backing a horse to win outright.
How Does It Work?
Now we’ve answered the question: what is each-way betting, we need to know how it works and how you can wager like this in your next race.
The most important bit is remembering that each part of the bet will be equally split 50/50. So, if you make a £10 each way bet – you will have £10 on the horse to win and £10 for it to place.
This means you are putting down a £20 stake.
As a result, if the horse wins the race – each side of your bet will pay out. However, if they finish second, only the place portion of your bet will pay and you will lose the other £10.
This is what protects you from complete loss if your horse doesn’t come out on top. However, it’s also worth noting that this will usually result in a smaller payout should your horse be successful, but not win.
Why Is It Important?
We hope by now you understand what each way betting is and how it works – but why does it matter and why should you do it?
Well, as we’ve already discussed this type of bet offers better protection against losses as there are two chances of winning. This makes it ideal for newcomers to the world of gambling or those with less confidence.
It can also lead to bigger payouts, which is what we all crave!
By placing an each-way bet instead of just a win bet, you could see your potential payout increase should your horse finish in the places.
This is because, as we’ve said, each way bets are essentially two separate bets. So, if the odds for a horse to place are higher than their odds to win – you could see a bigger return on investment.
This is one of the reasons why this type of wager is so popular among gamblers!
Things To Consider
Before checking the box, ensure you’re aware of:
- The Places: For races with eight or more runners, you may find that third is also placed on an each-way bet. But for smaller races, you could be looking at just second.
1-4 Runners – No each-way bets
5-7 Runners – 2 Places
8 or more – 3 Places
16 or more (handicap races) – 4 Places
- The Odds: Be aware of each side of your bet. The place odds will be a fraction of the win odds because there is a greater chance of your pick placing than winning. Ensure you know what you could be getting back on either side.
Will I Break Even?
You need to be aware of what is each-way betting to understand that it doesn’t guarantee anything. Although it is often seen as an insurance bet, the odds do reduce for your place wager and so it’s important to consider the odds and possible return before gambling.
For example, let’s say you put £5 each way (£10 total) on a horse at 5/1 and they finish second. The place odds are a fifth of the win odds meaning you get back your original £5 at 1/1 evens plus £5 winnings. You’ve broken even.
It’s also worth noting that some bookmakers will offer what is called an each-way double. This means you can back two horses in different races with the same bets and should both of them place, you’ll receive a return.
This can obviously lead to some big payouts if both of your picks are successful!
What Is Each-Way Betting: Can Tipsters Help?
If you’re struggling to find the right horse to place your each way bets on, our reviewed and trusted expert tipsters can help. At The Tipster Judge, we offer great horse racing insight and ensure that everyone you’re looking to for advice knows what they’re talking about.
This can help you get the best return and make the most profitable choices when making your bets.
What’s more, our tips are completely free! So what are you waiting for? Head over to our website now and check out our latest predictions.