How To Bet On Horse Racing - Each-WayFor those of you that don’t know much about horse racing and how to bet on it, we’ve put together a beginner’s guide. This section takes a look at the difference between Win and Each-Way betting in the world of horse racing.

Once you’ve picked out the horse that you wish to back, you need to decide whether you want to bet on the animal to Win, or if you want to bet Each-Way.

What Does Each-Way Mean?

Betting to win is straightforward enough; if the horse wins, then so does your bet. If the horses finishes second or worse, your bet is a loser. Betting Each-Way offers a kind of insurance in case your horse almost wins, but doesn’t actually win. The insurance isn’t free though – you need to pay for it by doubling the size of your bet.

The best way to think of an Each-Way bet is as two separate wagers; one bet to win and a second bet ‘to place’. The definition of a place varies slightly depending on the specific type of race, but we’ll deal with that in a second. For now, just assume for now that it means ‘to finish in the first three’.

So if you want to bet on a horse and you have £10 to spend, you could have £5 Each-Way (a total of £10). That way, if your horse wins, you’ll still collect on the bet, but if it only finishes second or third, you will still get some money back.

Place Terms
In some races, a ‘place’ might be the first two or even the first four. Here are the exact rules for what constitutes the place part of an Each-Way bet, as well as how to work out your place odds:

Non-Handicap Races
2-4 Runners: No place betting allowed
5-7 Runners: 1-2; 1/4 Odds
8+ Runners: 1-3; 1/5 Odds

Handicap Races
2-4 Runners: No place betting allowed
5-7 Runners: 1-2; 1/4 Odds
8-11 Runners: 1-3; 1/5 Odds
12-15 Runners: 1-3; 1/4 Odds
16+ Runners: 1-4; 1/4 Odds

So if we place £10 Each-Way (total stake of £20) on a horse in a handicap race with 10 runners, at odds of 10/1 and the horse finishes third, what will our returns be?

From the above table, we can see that our place terms are 1-3, 1/5 of the odds. As our horse finished third, our place bet is a winner! So we take 1/5 of 10/1 (which is 2/1) on which we had £10 – that’s £30 coming back to us. The horse didn’t win, so we lose the other £10. A total return of £30.

If the horse had won, what would our returns be? Our win bet is easy to calculate: £10 @ 10/1 = £110. Plus the £30 from our place bet, for a total return of £140.

How To Bet Each-Way

Actually placing an Each Way bet is simple. Just write the name of the race, the name of the horse and the stake that you wish to bet Each-Way. Your slip will look something like this:

3:20 Ascot
Frankel
£5 Each-Way

If you’re in the betting ring, simply specify the number of the horse and your Each-Way stake; something like, “Number 4, £5 Each-Way” will suffice (remember, that £5 Each-Way costs you £10). On the internet, there will be a box to tick or a pull down menu to differentiate between betting ‘To Win’ and ‘Each-Way’.

When To Bet Each-Way

As a general rule, it is better to back horses Each-Way when they are at bigger prices. Anything at 5/1 or greater will pay even money (or greater) on the place part of an Each-Way bet, so if the horse places, you will be guaranteed to get your full stake back.

E.g: £10 Each-Way (total stake £20) @ 5/1 (Place terms 1-3, 1/5 the odds)

1/5 of 5/1 is 1/1 (or even money). £10 @ even money = £20. So if this horse only places, you haven’t lost a penny.

So now you know all about how to bet Each-Way on a horse race!