This is your each way betting horse racing guide. Horse racing is one of the most exciting sports to bet on. With so many different markets and bets, it can be tricky to get your head around each way betting. We explain what each way betting is, as well as how it differs from win, place and show betting.
If you’re new to horse racing or perhaps just new to betting on horses, this will give you a thorough introduction to everything. There are several different types of bets you can make when placing a wager on the horses. One of them is betting on horse races without a strategy. Most people tend to stick with either win, place or show betting. But you have another option with each way betting online.
What is each way betting?
Each way betting is a type of wagering where you place a bet on the horse either winning or finishing in the “place” positions. Depending on the odds for the horse, this might be the best bet you can make. In the US, each way betting is also known as place insurance, as a win bet is when a horse finishes first and a place bet is when a horse finishes second or third.
Depending on which system you are using (e.g. UK or US), each way betting is usually different. With the UK system, you place a bet on one horse to either win the race or finish in the first three places. For the US system, you usually have to bet on two horses, one to win and one to finish second.
The basics of each way betting
As mentioned before, each way betting is when you place a wager on a horse to finish in a particular position. There are many different types of each way bets that you can make during a race. The most popular type of each way wager is to back a horse to finish first or second for the US market, or first, second or third for the UK market.
Back a horse to finish first or second (or third) – This is the most common type of each way bet. It is also known as a place bet in the US.
Back a horse to finish first or second (or third) and also win – This is known as a win and each way bet in the US. The win part of the bet refers to the horse finishing first, with the each way part of the bet referring to the horse finishing in second place (or third place).
Back a horse to finish first, second or third – This is known as a place, win or each way bet in America. The bet is settled as the place, win or each way depending on where your horse finishes.
How do each way bets work?
If you place an each way bet on a race and the horse you back doesn’t finish in first or second place (or third place with some UK races), then you will lose your bet. However, if that horse finishes third or fourth in the US, then you will still win your bet.
Each way betting is essentially a form of insurance against a horse finishing third or fourth place. Depending on the odds of the horse you back, you might be able to make a profit regardless of what position the horse ends up in.
Even if you back a horse to finish in first place and they don’t, you won’t lose your wager. Instead, your each way bet will be settled as a bet to finish second or third. You are essentially covering yourself in case the horse finishes third or fourth.
The starting odds for the horse that you select will be divided if they are placed and don’t win. For example, if the starting price for your selection was 5/1, in the UK a successful place bet will return a fifth of the starting odds which in this case is evens or 1/1.
The benefits of each way betting
The biggest benefit of each way betting in the US comes from making a profit when a horse finishes in second place. When you place an each way bet on a horse to finish in first, second or third place, you are covered even if the horse finishes in fourth place. But if your horse finishes in fourth place, every each way bet related to that horse is voided.
However, if you bet on a horse to finish in second place, even if they finish in fourth place, your each way bet will still be valid. Another big benefit of each way betting is you can often place smaller wagers and still make a profit. For example, if you place a $100 bet on a horse to win and they finish second, you will earn $200.
With the UK each way system, if your selected horse wins the race or finished second or third then your each way bet will be successful. The number of places available depends on the number of runners in a race and the type of race. If there are only a small number of runners (less than 8) then only second place will be a success.
For races of 8 runners or more in the UK, you will usually have a successful each way bet if your horse wins or finishes second or third. Forth place is made available for large handicap races where there are a lot of runners. An example of this is the Grand National held at Aintree. Each way bets are less risky than win bets
Difference between each way and win, place, and show bets
This applies to the US system. The main difference between each way and win, place and show betting is which horse you will profit from if you back the correct horse to finish in either first, second or third place. With win, place and show betting, you need to finish first place to profit. With each way betting, you need to finish in either first, second or third place to profit.
