In horse racing, each way (EW) odds are a type of wager in which a bettor places a bet on a horse in a race, with the potential to win a certain amount of money if the horse finishes first, second, or third. The bettor can choose to place the bet either with a bookmaker or through an exchange. When a bettor places an EW bet, they are essentially betting on two different outcomes: a win and a place. The win portion of the bet pays out if the horse finishes first, while the place portion pays out if the horse finishes either first or second.
What are the odds for an each way bet?
The odds for an each way bet vary depending on the number of horses in the race, as well as the type of race and the bookmaker or exchange that is offering the bet. Generally, if a race has five or more horses, the odds for an each way bet are 1/4 of the win odds, or 1/2 of the win odds if there are less than five horses in the race. For example, if the win odds for a horse are 4/1, then the each way odds would be 1/1.
What do each way odds mean?
Each way odds indicate the amount of money that a bettor can win if their horse finishes first, second, or third. For example, if a bettor places a £10 each way bet at odds of 1/1, then they could potentially win £20 if the horse finishes first, and £10 if the horse finishes second or third. The amount of money paid out will depend on the number of horses that finish in the money, as well as any deductions that are taken by the bookmaker or exchange.
What are the benefits of each way betting?
There are several benefits to each way betting. Firstly, it allows bettors to take a risk on a horse that they think might have a chance of winning, without having to commit a large amount of money to the bet. Secondly, it gives bettors the chance to win money even if the horse they have backed doesn’t win the race, as they can still win money if the horse finishes second or third. Finally, each way betting is a great way to get more value out of a bet, as the odds for each way bets are usually better than the odds for win-only bets.
What are the risks of each way betting?
Although there are several benefits to each way betting, there are also some risks involved. Firstly, if the horse does not finish in the money, then the bettor will lose the entire stake. Secondly, the payouts for each way bets are usually lower than the payouts for win-only bets, meaning that bettors may not get as much value out of their bets. Finally, due to the deductions taken by the bookmakers or exchanges, bettors may not get the full payout that they are expecting.
How do bookmakers calculate each way bets?
Bookmakers calculate each way bets by taking into account the number of horses in the race, the type of race, and the odds of the horse that has been selected. Generally, if the race has five or more horses, then the each way odds will be 1/4 of the win odds, or 1/2 of the win odds if there are less than five horses in the race. The bookmaker will then make any necessary deductions from the win and place payouts, based on the number of horses that finish in the money.
How do exchanges calculate each way bets?
Exchanges calculate each way bets in a slightly different way to bookmakers. Generally, the each way odds will be based on the odds of the horse that has been selected, with the payouts being determined by the number of horses that finish in the money. Unlike bookmakers, exchanges do not make any deductions from the win and place payouts.
What should bettors consider when placing each way bets?
When placing each way bets, bettors should consider several factors. Firstly, they should consider the number of horses in the race and the type of race, as this will affect the odds and payouts. Secondly, they should compare the odds and payouts offered by different bookmakers and exchanges, as this will help them get the best value for their bets. Finally, bettors should always be aware of any deductions that may be taken from the win and place payouts, as this may reduce their winnings.
Conclusion
Each way betting is a great way for bettors to get more value out of their bets, as it allows them to take a risk on a horse that they think might have a chance of winning, without having to commit a large amount of money to the bet. However, bettors should always consider the number of horses in the race, the type of race, and the odds and payouts offered by different bookmakers and exchanges, in order to get the best value for their bets.
Ultimately, each way betting is an attractive option for bettors who want to get more out of their bets, but it is important to understand how each way odds work, in order to ensure that bettors get the best value for their bets.