How Does An Each-Way Bet Work In Golf?
Golf is an exciting sport to bet on. But with golf tournaments having average field-sizes of 150+ players, it’s important to understand how does an each-way bet work in golf?
An Example of an Each-Way Bet in Golf
An example of how an each-way golf bet works is as follows. You might choose to bet £10 each-way on Rory McIlroy to win the Irish Open at 10/1. That bet will cost you £20, which is a £10 bet on McIlroy to win and a £10 bet on McIlroy to place.
The £10 win bet will be settled at the advertised odds of 10/1. If Rory McIlroy wins the Irish Open, you’d get back £10 x 10/1 = £100 + £10 (stake) = £110.
You’d also win your £10 place bet (with typical each-way place odds being ¼ 1-2-3-4-5). That means your place return would be £10 x 2.50 (¼ of 10/1) = £25 + £10 (stake) = £35.
So, your full each-way return if McIlroy won would be £110 + £35 = £145 for a profit of £125.
Of course, not all each-way golf bets win. But you can still make a profit from your golfer being placed. In this instance, if McIlroy finished second, third, fourth, or fifth, you would just win the place part of your bet, returning £35 for a £15 profit.
Why Each-Way Golf Betting is Popular
Each-Way betting is available on many sports, but it’s particularly popular in golf due to big prices of up to 1,000/1 being available on some players. That means it’s possible to land even placed bets at up to 250/1.
Each-Way golf betting is especially useful to punters who are good at picking players who often place but don’t win, and with betting traders who like to take big odds about players that might trade at shorter odds in-running than they were available at before the start of the tournament.
How Does an Each-Way Bet Work in Golf with Different Bookmakers?
One of the biggest changes in each-way golf betting over the last few years has been the different approaches that various bookmakers have taken to attracting golf bettors to bet with them.
Some bookmakers have stayed with the tried and tested each-way terms of a ¼ odds 1-2-3-4-5. But many bookmakers have decided to offer enhanced placed terms on each-way golf betting, typically offering six or seven places at 1/5 odds.
Bookmakers also tend to regularly outdo each other when it comes to offering the best place terms for major tournaments such as the US Masters or Open Championship. Some bookmakers have even been known to offer 1/5 odds for 10 places on these big events.
That’s because many bookmakers view the majors as loss leaders, big televised events they don’t mind taking a hit on if they can attract lots of new golf bettors to bet with them. But that doesn’t mean you shouldn’t take advantage of these opportunities when they come along.
But you do need to consider the win odds when placing each-way golf bets at enhanced odds, as the win odds are often much shorter than with bookmakers offering less each-way places.
How Does an Each-Way Bet Work in Golf on the Betting Exchanges?
Betting exchanges such as are one of the biggest reasons that traditional bookmakers had to get more adventurous with their each-way betting terms in order to stay competitive.
The likes of Betfair and Betdaq offer a wide variety of ways to bet each-way on golf. You can typically place each-way bets at agreed odds and place terms, whilst there is also the option to bet on win-only markets and place-only markets, allowing you more freedom with your staking plans.
For example, you might be thinking about placing a £10 each-way bet on golf, but think your selection has a much stronger chance of getting placed than winning. Betting exchanges give you the freedom of weighting your staking-plan accordingly, perhaps having a £5 win bet and a £15 place bet.
Other Place-Only Golf Markets
Many bookmakers and betting exchanges also give you the chance to bet place-only on a much wider range of places than even the enhanced each-way terms on offers.
Top-10 and top-20 betting are widely available for European Tour and PGA Tour events and with many leading bookmakers and exchanges. All that needs to happen for your player to land these bets for you is for him to, respectively, finish in the top-10 or top-20 on the leaderboard.
Alternative Each-Way Golf Markets
Many bookmakers and betting exchanges also offer special each-way markets within typical golf tournaments. These include each-way betting for the top American player, top European Player, or top rest of the world player.
There are smaller markets too, such as the top amateur or top former champion. These markets may only have, for example, six or seven runners, so each-way terms may only be 1/4 odds 1-2.
What About When Players Dead-Heat?
Dead-heats are common in each-way golf betting, and it’s important to understand how dead-heat rules may affect the return on your bet.
For example, you’ve placed an each-way bet at ¼ odds 1-2-3-4-5, and your selection finishes in a three-way tie for third place. This means your selection has shared third, fourth, and fifth place with three players, all places which payout, so this will not affect your bet in any way.
However, if you’ve placed a £10 each-way bet at 20/1 at ¼ odds 1-2-3-4-5, and your selection finishes in a three-way tie for fifth place. This means your selection has shared fifth place with three players, so this means you’ll only get a third of the return you were expecting.
You would have been expecting to get £10 at 5/1 (¼ of 20/1) = £50 + your stake of £10 = £60. However, as three players have dead-heated (or tied) for this place, you must divide £60 by three to get your return = £20.