Horse racing is one of the most popular sports in the world and is enjoyed by millions of people around the world. As with any sport, it has its own set of terms and phrases that can be confusing to those who are unfamiliar with it. One of the most commonly used terms in horse racing is “EW,” which stands for “each way.” But what does this mean?
What is Each Way Betting?
Each way betting is a type of bet that pays out if your horse finishes in first, second, or third place. The way it works is that you place two separate bets – one for your horse to win, and one for your horse to place (finish in the top three). If your horse wins, both bets will pay out. If your horse places, only the “place” bet will pay out.
What Does EW Mean in Horse Racing?
The term “EW” is shorthand for “each way.” It is used to indicate that you are placing an each way bet on a particular horse. For example, if you are betting on a horse named “Snow White,” you might write “Snow White EW” on your betting slip. This would indicate that you are placing an each way bet on Snow White.
Advantages of Each Way Betting
Each way bets offer several advantages. Firstly, they give you more chances to win. If your horse wins, both of your bets will pay out. If your horse places, only one of your bets will pay out, but this can still be a profitable outcome.
Secondly, each way bets can be used to reduce risk. If you are unsure which horse will win, you can spread your risk by placing multiple each way bets on different horses. This way, you will still be in with a chance of winning even if your chosen horse does not win.
Finally, each way bets can be used to increase your returns. Even if your chosen horse does not win, you can still make a profit if it places.
Disadvantages of Each Way Betting
Each way bets also have some drawbacks. Firstly, they are more expensive than a win bet. This is because you are placing two bets instead of one. Secondly, the returns from an each way bet are usually lower than those from a win bet. This is because the odds of your horse placing are usually lower than the odds of it winning.
EW Betting Strategies
There are several different strategies that can be used when placing each way bets.
Long Shots: Long shots can be a good choice for an each way bet. This is because the odds for these horses are usually higher, which means that even if they only place, you can still make a profit.
Favourites: Favourites can also be a good choice for an each way bet. This is because the odds of them placing are usually quite high, so even if they do not win, you can still make a profit.
Spread Betting: You can also use each way bets to spread your risk by placing multiple bets on different horses. This way, even if your chosen horse does not win, you can still be in with a chance of making a profit.
EW Betting Tips
When placing each way bets, there are several things to keep in mind.
- Choose your horses carefully. Make sure you research the horse’s form before you place your bet.
- Know your odds. Make sure you understand the odds for each horse before you place your bet.
- Don’t bet more than you can afford to lose. Betting on horse racing can be a risky business, so make sure you don’t bet more than you can afford to lose.
- Set yourself a budget. Decide how much you are willing to spend on each way bets and stick to it.
- Don’t chase your losses. If you have had a series of bad bets, don’t keep betting in the hope of recouping your losses.
Conclusion
In conclusion, EW is a term used in horse racing to indicate that you are placing an each way bet. Each way bets offer several advantages, such as giving you more chances to win and reducing risk. However, they also have some drawbacks, such as being more expensive than a win bet and having lower returns. When placing each way bets, it is important to choose your horses carefully, know your odds, and set yourself a budget.
References
- Betfair. (2020). What is Each Way Betting? Retrieved from https://betting.betfair.com/horse-racing/betting-guide/what-is-each-way-betting-A102908.html
- Bookmakers.co.uk. (2020). What Is Each Way Betting? Retrieved from https://www.bookmakers.co.uk/each-way-betting/
- Racing Post. (2020). What Is An Each-Way Bet? Retrieved from https://www.racingpost.com/horse-racing-betting/horse-racing-betting-explained/what-is-an-each-way-bet/