Win and Each Way Meaning In Betting Explained

Betting can seem like a world full of jargon, and understanding terms like “win” and “each way” is important if you’re interested in sports betting. 

These terms are commonplace, especially in horse racing, where they form the basis of many bets. But what do they really mean, and how do they impact your bet? If these questions sound familiar, you’re in the right place.

This blog post breaks down what “win” and “each way” mean in simple, straightforward terms. So, whether you’re a complete beginner, or just brushing up on your knowledge, you’ll find the information you need to approach these bets with more understanding.

What Does Win and Each Way Mean?

In the context of betting, “win” and “each way” are two common types of bets you might come across, especially in races. Each has its own way of potentially returning something.

A “win” bet is straightforward. You place a wager on the outcome that you think is going to come first. If your chosen option comes in first place, it results in a payout based on the odds at the time you placed your bet. However, if your selection doesn’t come first, the bet doesn’t return anything.

On the other hand, an “each way” bet offers a bit more flexibility. This is essentially two bets in one: one part is a “win” bet as described, and the other is a “place” bet. The “place” part means your selection can finish in the top few positions and return something. The number of positions considered for a “place” will depend on the specific event and the number of participants involved.

For example, if you place an each way bet and your selection finishes in one of the designated positions, the “place” part of the bet returns. Bear in mind the returns from the “place” part usually use fractions of the win odds, so they’re typically lower. 

Keep in mind that betting has an element of chance, so outcomes can vary widely.

Win and Each Way Horse Racing Bet Example

Let’s imagine you’re at a horse racing event and fancy placing a bet on a horse named “Lightning Bolt” running in a race with eight participants. Suppose the odds for Lightning Bolt to win are 10/1, and the each way terms are 1/5 odds for the first three places.

For a win bet, you might stake £5 on Lightning Bolt. If Lightning Bolt finishes first, you’ll receive a return based on the odds. This includes your original stake plus the winnings. If Lightning Bolt doesn’t come first, the win portion of your bet doesn’t return anything.

An each way bet works a bit differently. If you stake £5 each way on Lightning Bolt, you are actually placing two separate £5 bets. One is for the win, and the other is for Lightning Bolt to place in the top three. If Lightning Bolt wins, both parts of your bet return, which includes a return from the win odds and a smaller return from the place odds. If Lightning Bolt places but does not win, only the place bet returns.

This way of betting gives you a chance of a return even if your chosen horse doesn’t come first. Yet, it’s important to remember the outcome is unpredictable, and any return is uncertain.

How To Calculate an Each Way Bet

Calculating an each way bet involves a bit of simple maths. Let’s break it down step by step using a hypothetical scenario.

Imagine you place an each way bet of £10 on a horse with odds of 8/1. Many horse races offer each way terms of 1/4 odds for the first three places, though this can vary based on the race.

First, understand that an each way bet consists of two separate bets. In this example, it’s £5 for the win and £5 for the place.

Step 1: Calculate the Win Part
If the horse wins, your return includes the win odds. Multiply the win stake by the odds and then add the stake back. So, 8 (odds) x £5 (stake) = £40 + £5 (stake) = £45.

Step 2: Calculate the Place Part
If the horse places but doesn’t win, you’ll receive a return based on the fraction of the win odds for the place terms. Here it is a quarter of the win odds. So, 8/4 = 2. Multiply this by the each way stake: 2 (place odds) x £5 (stake) = £10. Add the place stake back, resulting in £10 + £5 = £15.

If the horse both wins and places, you’ll receive returns from both parts. If the horse only places, you’ll only receive the place return. 

Remember, betting involves chance, so these calculations only come into play if your chosen outcome happens.

How Many Places Is Each Way In Horse Racing?

In horse racing, the number of places covered by an each way bet depends on the number of runners and the type of race.

For races with five to seven runners, bookmakers typically offer “place” terms for the first two positions. If there are eight or more runners, it often extends to the first three places. In large handicap races with 16 or more runners, you might find they extend to four places.

Each bookmaker may have their own terms, and these can sometimes change depending on special events or promotions. This is important to check because it influences the potential return on the place part of your bet.

How Does an Each Way Bet Work In Football?

An each way bet in football is less common than in horse racing, but still available in certain betting markets. It typically applies to bets placed on tournament outcomes or league finishes, rather than individual match results.

When you place an each way bet on a football team, the stake is divided between backing the team to win outright and backing them to finish in a top position. These positions are usually defined by the tournament rules or bookmaker offer.

For example, if you bet each way on a team to win the Premier League, half of your stake supports them winning the league, while the other half backs them to finish in the top few spots, such as the top four. The specific positions considered may vary, so it’s important to check the terms before placing the bet.

The odds for the place part of an each way bet are generally a fraction of the win odds, such as 1/3 or 1/4, depending on the terms. Placing an each way bet adds an additional layer of complexity, with the possibility of obtaining some return if the team reaches one of the highlighted positions, though the outcome involves chance.

Pros and Cons of Each Way Betting

Pros of Each Way Betting

Each way betting offers a level of flexibility, which is why some people find it appealing. One of the main advantages is that it can provide a potential return even if your chosen selection doesn’t win outright.

For those who pick participants that often finish in the top positions, each way betting might return more frequently compared to a win-only bet. This can make following the event feel more engaging.

It also allows bets on outsiders. You can potentially gain a return on selections with longer odds if they manage to place, subject to the place terms offered.

Cons of Each Way Betting

However, each way betting involves placing two bets, which means doubling your stake. This can lead to higher betting costs compared to a single win bet.

The potential returns from the place part of the bet are usually lower because they are calculated as a fraction of the win odds. This means while you might receive something if a horse places, the amount might be small.

Lastly, when the number of places differs significantly from those expected, such as in smaller races, the chance of a return can be reduced. This might make each way betting feel less appealing in certain events.

Is Each Way Betting Worth It?

Deciding if each way betting suits you is a personal choice and depends on what you’re seeking.

Each way betting can appeal if you prefer spreading your risk. It allows an opportunity to gain some return if your selection doesn’t win, but does well enough to place. This might suit those who are more cautious in their betting approach. Additionally, if you’re keen on supporting selections with longer odds, each way provides an opportunity to get a return from a good performance without them needing to win.

However, remember that each way betting involves placing two separate bets. This means a larger stake is needed, as you’re essentially backing your selection in two different ways. This can increase costs, which might not appeal to everyone.

Ultimately, whether each way betting is worth it comes down to your personal approach and what you find satisfying in betting. It’s useful to reflect on what you want before placing each way bets. 

Don’t forget that betting involves chance, and the outcome cannot be certain.