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What does Each Way Betting mean?

Ballabriggs (2) ridden by Jason Maguire clears The Chair fence i the Grand National (credit:Credit by bettingpro)

What is an each way bet? We explain what the term each way means and what happens when you place an each way bet on a horse race.

When you go for a day at the races or want to watch the Grand National, the Derby or any other races on television on a Saturday afternoon you want to be as involved as possible. Often that means placing a bet on the race and for the most part that is an easy thing to do. You pick the horse you want to win and bet on it.

However, one term that is thrown around by horse racing experts is each way betting, which can be confusing to those who don't spend much time in the betting ring. It is arguably the most popular bet amongst those betting on horse racing, particularly on the big races like the Grand National.

The reason for this is that an each way bet actually offers more chance of a payout than a straight win bet does. If you bet on your horse to win and he doesn't then you get nothing but when you bet each way your stake is split between a win bet and a bet on the horse to be placed (finish in the top four).

The win part of the bet is paid out at the odds listed by the bookmaker while the place part is paid out at 1/4 of the win odds.

For example:

You want to place a bet on Teaforthree in the Grand National at odds of 16/1 but you also don't want to lose all of your money if he is beaten at the end of the race.

So, rather than place a £20 win bet at odds of 16/1 with Ladbrokes, you would place a £10 bet EACH WAY. This is £10 to win at 16/1 and £10 for Teaforthree to finish in the top four.

This means that if you win you win £10 x 16= £170 and £10 x 4 (1/4 of 16) = £40. You also receive your £20 stake back so you get a full return of £220 for your £20 bet.

If, however, Teaforthree finishes second then you lose your £10 win bet but you win £40 for the stake section, meaning your returns are £50. This is a lot better than the £0 you would receive if you had simply bet on the horse to win!

Ultimately the aim of an each way bet is to provide some insurance against your horse coming close but not quite winning. Different people will obviously have different betting styles but our advice for novices who are placing bets on big field races such as the Grand National is to do so each way.

If you're betting in a shop then you simply write £10 Each Way on the betting slip but if you are betting online then it's simply a case of ticking the box next to the horse's name. The bookmaker will do all the calculations for you.

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What does Each Way Betting mean?

What is an each way bet? We explain what the term each way means and what happens when you place an each way bet on a horse race.

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