EW odds, or each way odds, are a form of betting odds used in horse racing and other sports betting. The concept of EW odds is to provide the bettor with a greater chance of winning their bet, by allowing them to bet on two outcomes at the same time.
With EW odds, the bettor places two separate bets: one that the horse will win and one that the horse will place. This means that if the horse finishes in the top three of the race, the bettor will be paid out regardless of whether the horse wins or not.
How Do EW Odds Work?
EW odds work by allowing the bettor to place two bets on one selection. The first bet is that the selection will win the race, and the second bet is that the selection will place in the race, meaning that it will finish in the top three (or the number of places specified by the bookmaker).
The odds for each bet are usually the same, but the bettor will be paid out at different rates depending on the outcome. If the selection wins the race, the bettor will receive the full winnings from the first bet. But if the selection only places, the bettor will receive a reduced winnings from the second bet.
What Are the Benefits of EW Odds?
The main benefit of EW odds is that it provides the bettor with greater flexibility when placing a bet. With EW odds, the bettor is able to bet on two outcomes at the same time, meaning that they have a greater chance of winning their bet.
In addition, EW odds also allow the bettor to hedge their bets, meaning that they can bet on multiple outcomes in order to reduce the risk of losing their bet. This is especially useful in horse racing, as it allows the bettor to have a greater chance of winning even if their selection does not win the race.
What Are the Drawbacks of EW Odds?
The main drawback of EW odds is that the bettor will only receive a reduced winnings from the second bet if their selection only places. This means that even if the selection finishes in the top three, the bettor will not receive the full winnings from the bet.
In addition, EW odds can also be more complicated to understand than traditional betting odds, as the bettor needs to understand two different sets of odds in order to make their bet. This can make it difficult for new bettors to understand the concept of EW odds, and as such it is important that they seek advice from experienced bettors before placing their bets.
How to Calculate EW Odds?
Calculating EW odds is relatively straightforward, as they are usually calculated using the same odds as traditional betting odds. To calculate the EW odds for a particular selection, the bettor simply multiplies the odds of the selection winning by two.
For example, if the selection has odds of 3.00 to win, the EW odds would be 6.00 (3.00 x 2). The bettor would then need to calculate the odds of the selection placing, which is usually done by dividing the odds of the selection winning by two.
In the example above, the odds of the selection placing would be 1.50 (3.00 ÷ 2). The bettor would then need to add the win odds and place odds together in order to calculate the total EW odds for the selection, which in this example would be 7.50 (6.00 + 1.50).
Types of EW Bets
There are two main types of EW bets: single and double. With a single EW bet, the bettor is betting on one selection to win and place.
With a double EW bet, the bettor is betting on two separate selections, one to win and one to place. This means that the bettor will receive a double winnings if both selections win or place.
EW Betting Strategy
When betting with EW odds, it is important to consider the odds of the selection as well as the type of bet that is being placed. If the selection has low odds, it may be better to place a single EW bet in order to reduce the risk of losing the bet.
However, if the selection has higher odds, it may be better to place a double EW bet in order to maximise the potential winnings from the bet.
Common Mistakes with EW Bets
One of the most common mistakes that bettors make when betting with EW odds is failing to consider the odds of the selection. If the selection has low odds, then it may be better to place a single EW bet in order to reduce the risk of losing the bet.
In addition, another common mistake is not understanding the concept of EW odds. As EW odds can be more complicated than traditional betting odds, it is important that bettors seek advice from experienced bettors before placing their bets.
Key Points to Remember About EW Odds
EW odds are a form of betting odds used in horse racing and other sports betting.
How do EW odds work? The bettor places two separate bets: one that the horse will win and one that the horse will place.
Benefits of EW odds? They provide the bettor with greater flexibility when placing a bet and allow the bettor to hedge their bets.
Drawbacks of EW odds? The bettor will only receive a reduced winnings from the second bet if their selection only places, and they can be more complicated to understand.
How to calculate EW odds? Multiply the odds of the selection winning by two and then divide the odds of the selection winning by two to calculate the odds of the selection placing.
Types of EW bets? Single and double.
EW betting strategy? Consider the odds of the selection as well as the type of bet that is being placed.
Conclusion
EW odds are a great way for bettors to increase their chances of winning their bet. However, it is important that bettors understand the concept of EW odds before placing their bets, as it can be more complicated than traditional betting odds.
By following the tips outlined in this article, bettors can make informed decisions when betting with EW odds and maximise their chances of winning their bet.