Each-Way (bet)

Each-Way (bet)

An each-way bet is a wager offered by bookmakers consisting of two separate bets; a win bet and a place bet. For the win part of the bet to give a return the selection must win or finish first in the event. For the place part of the bet to give a return the selection must either win or finish in one of the predetermined 'places' for the event. The odds paid on the place part of the bet are usually a fraction (commonly frac{1}{2}, frac{1}{3}, frac{1}{4} or frac{1}{5}) of the win odds. Examples are domestic football knockout competitions (e.g. FA Cup) where the quoted place terms may be frac{1}{2} the odds a place 1,2 and horse racing where the quoted place terms may be frac{1}{5} the odds a place 1,2,3.

Staking

Because an each-way wager comprises two bets, the total staked is twice the unit stake. For example, a £5 each-way single would cost £10, as indeed would a £5 each-way treble comprising as it does of a £5 win treble and a £5 place treble.

ettling the bets

Calculation of returns uses either decimal odds or (fractional odds + 1).

Example 1

£50 each-way on a football team 'to win the cup' at 9-2 and frac{1}{3} the odds a place 1,2.
*Returns for the win part of the bet would be £50 × 5.5 = £275
*Returns for the place part of the bet would be £50 × 2.5 = £125
*If the team 'won the cup' the total returns would be £275 + £125 = £400 and if the team was beaten in the final the returns would be £125. If the team did not reach the final the wager would be lost.

Example 2

A £10 each-way single on a 10-1 selection in a horse race and paying frac{1}{4} the odds a place 1,2,3 would cost £20.
* Returns on the win part of the bet would be £10 × (10/1 + 1) = £110
* Returns on the place part of the bet would be £10 × (10/4 + 1) = £35
* Total returns would be £110 + £35 = £145 if the horse won the race, but just £35 if the horse only finished second or third.

ee also

*Mathematics of bookmaking
*Glossary of bets offered by UK bookmakers
*Full cover bet
*Parlay or Accumulator bet

External links

* [http://www.ratz4racing.co.uk/each-way-betting-explained.php Each-Way Betting Explained] A good explanation of how each-way betting works
* [http://fbg.ladbrokes.com/en/sports-terms/sports-betrules-genrules/sports-betrules-racing#20 Place odds for horse racing] , industry rules for place odds in each-way horse racing bets


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Look at other dictionaries:

  • each-way bet — /ˌitʃ weɪ ˈbɛt/ (say .eech way bet) noun Horseracing, etc. a bet in which a racehorse, etc., is staked to win the place dividend for a place (def. 31b), or both the win and place dividends for a win …  

  • each way — adv BrE if you ↑bet (=try to win money by guessing the winner of a race) money each way, you will win if the horse or dog you choose comes first, second, or third >each way adj ▪ a £10 each way bet …   Dictionary of contemporary English

  • each-way — adjective Thesaurus: betting, bets and ways of bettinghyponym Main entry: each way * * * each way «EECH WAY», adjective. British. 1. made in a horse race for both first and second place: »an each way bet …   Useful english dictionary

  • each way — adverb BRITISH an each way BET is an ACROSS THE BOARD bet …   Usage of the words and phrases in modern English

  • each way — phrasal Britain, of a bet on a racehorse : to win or to place * * * each way In betting, for a win and for a place (eachˈ way adjective) • • • Main Entry: ↑each * * * each way UK US adverb british if you …   Useful english dictionary

  • each way — 1) ADV: ADV after v If you bet money each way on the result of a horse race or a dog race, you will win some money if the animal you bet on comes first, second, third, or sometimes fourth. [BRIT] In the last race I put ₤20 each way on two… …   English dictionary

  • each way — adverb if you bet (=try to win money by guessing the winner of a race) money each way, you will win if the horse or dog you choose comes first, second, or third each way adjective: a 10 each way bet …   Longman dictionary of contemporary English

  • each way — UK term for betting on a horse to win and/or Place . An each way bet is when you have the same amount on the horse for a win and for a place. Bookmakers will give you one quarter of the win odds for a place in fields of eight or more and one… …   Equestrian sports dictionary

  • each way — UK / US adverb British if you bet each way, you win money if the person or animal you choose comes first, second, or third in a race Derived word: each way adjective …   English dictionary

  • each-way — adjective & adverb Brit. (of a bet) backing a horse or other competitor either to win or to finish in the first three …   English new terms dictionary

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