Are Each-Way Bets Worth It?
Are each-way bets worth it is a question we often get asked, but answering it isn’t as easy as saying yes or no. Each-way betting covers a variety of different sports, markets, odds, and place terms, and all bets need to be viewed on their own merits.
If you’re betting with a view of making long-term profits, you also need to consider whether each-way betting will provide you the best return on investment (ROI).
Should I Place Win Or Each-Way Bets?
The choice of whether to bet win-only or each-way is a tough one, so let’s start with a simple example. You decide you’re going to bet £20 on a horse at odds of 5/1 in a race where the each-way terms are 1/5 odds 1-2-3. You can either bet £20 win on the horse or have £10 each-way.
A £20 win bet offers you the chance to win £100, plus get your stake back for a total return of £20. A £10 each-way bet offers you the chance to win £60, £50 of which is from your £10 win bet at 5/1. You’d also win £10 from your even-money (1/5 of 5/1) place bet, plus your £20 stake back, for a total return of £80. Your horse could also place second or third, landing a total place return of £20 (£10 winnings + £10 stake). Of course, your horse could also lose.
Betting win-only in this scenario gives you the chance to win £100, which is a 500% ROI. Betting each-way gives you the chance to win £60, which is a 300% ROI, but it also gives you the safety net of getting your initial stake back if your horse places.
Now you know the risk involved, you must decide whether betting win-only or each-way maximizes your ROI.
So, let’s look at a scenario in which you back five horses at these each-way terms, with two horses winning and the other three placing.
Five £20 win bets would cost you £100. If two of the five bets win, you would have a total return of £240 (2 x £120). That means you would make a profit of £140 (£240 – £100).
But what if you placed £10 each-way bets on all five of these horses. You would have total win returns of 2 bets x 5/1 X £10 = £100 + £20 stake = £120. You would also get back 3 bets x £10 x even-money = £30 + £30 = £60. £120 + £60 = a total return of £180 and a profit of £80.
The above example highlights that, though you didn’t have any losing each-way bets, you would still have made more profit betting win-only.
So, let’s look at a similar scenario in which you back five horses at these each-way terms, with one horse winning and the other four placing.
Five £20 win bets would cost you £100. If one of the five bets win, you would get a total return of £120 for a profit of £20 (£120 – £100).
But what if you placed £10 each-way bets on all five of these horses. You would have total win returns of 1 bets x 5/1 X £10 = £50 + £10 stake = £60. You would also get back 4 bets x £10 x even-money = £40 + £40 = £80. £60 + £80 = a total return of £140 and a profit of £40.
The above example highlights that you would have made more money betting on all five horses each-way, rather than betting then win-only.
Of course, there are lots of other possible outcomes in this scenario. You could have no winners or five winners or all the outcomes in between. That is why it’s impossible to give a definitive answer to is each-way betting worth it.
Instead, you must take each bet on its merits. When you have a substantial portfolio of bets you have placed, you should work out whether you would have profited more from a betting strategy of win-only bets, each-way only bets, or a combination of the two. You may then wish to adjust your betting strategy accordingly.
How Do I Know Whether To Bet Win-Only Or Each-Way?
While a study of your betting patterns may help you decide whether you would be better off betting win-only or each-way, we’d still recommend you judge each-way bet on its own merits.
Let’s take a 10-runner race (1/5 odds 3 places) in which there is an odds-on favourite that has every chance of winning. But you fancy a 10/1 shot will place in the first three. In this scenario, it would seem wide to bet each-way, as you will make a profit if your horse finishes second or third. Of course, there’s also the chance that you could win if the favourite flops.
For another example, there’s a jumps race in which a horse has form figures of F/1/F/1/F (1 being a win and F meaning fell). This horse is available at 5/1 but its profile suggests that it will either win or fall. In this case, you would probably bet win-only.
Not all selections are as obvious as these two examples, so you will need to do plenty of studying and apply both logic and some math before deciding on your strategy.
At What Odds Should I Bet Each-Way?
The advice about what odds you should bet each-way at varies depending on whose advice you take. The main advice is you should only bet each-way when will at least break-even if your selection places.
However, some tipsters will only advise each-way bets on which you will make a substantial profit even if your selection only places.
Should I Bet Each-Way When The Placed Terms Are Enhanced?
Enhanced betting terms are when a bookmaker offers more places that it needs to on a race. For example, as a promotion, a bookmaker may offer 1/5 odds five places in a race where they only need to offer 1/5 odds three places. In this scenario, betting each-way when the placed terms are enhanced is obviously something to consider.
But you should still weigh-up the bet on its merits. If you can get 10/1 three places or 8/1 five places, you need to think long and hard about where you think the horse will finish. If you think it will finish in the first three, then ignore the enhanced place terms and go with the bigger odds.
If you think it’s certain to place in the first five, then you should be happy to take lower odds but more places. Of course, where more places are on offer and the odds are the same, betting with the bookmaker that is offering more places is a no-brainer.
What Sports Should I Bet On Each-Way?
There are no hard and fast rules about which sports you should bet on each-way or not. Again, just judge each bet on its own merits. Each-way betting is probably most popular in horse racing, but you’ll also find each-way betting on lots of other sports such as golf, athletics, and greyhound racing.
Golf is especially popular for each-way bets, as big odds and seriously enhanced each-way terms give punters a great chance to land some seriously big wins. For example, you’ll often be able to get each-way terms of 1/5 odds 10 places in the majors, while seven or eight places are available in many run-of-the-mill tournaments.
Do Betting Tipsters Provide Each-Way Bets?
Betting tipsters all have their own strategies but, while some will only even bet win-only, many are happy to bet each-way when the factors are in their favour. Some tipsters even specialize in each-way betting.
If you’re not sure whether to bet each-way or not, check out the Betting Gods free tips page where you’ll find a variety of tips from our top tipsters. This will give you a chance to see whether you like win or each-way betting and find a tipster that suits how you want to bet.
All our tipsters also offer a variety of affordable monthly subscriptions that enable you to receive all their bets, as well as advice about staking plans and betting banks.
We hope that’s answered your question, are each-way bets worth it. If you’d like more betting advice, feel free to read the hundreds of other articles you’ll find here on the Betting Gods blog. Happy punting!