All You Should Know about Each Way Bet
It’s a very popular type of wager, used both in horse-racing and football. Actually, this betting variation lets a person back an athlete for a victory and a place all in the same bet. In other words, a bettor places his stake on the chosen team or player to gain the upper hand in the game and finish in the ‘places’. The latter variant includes the 1st, the 2nd, and the 3rd places. Thus, what is an each way bet? It’s the type of wager, which unites two bets for the same amount – one for a victory and one for high placing. You must admit that it’s an advantageous variation of wager that can give you an excellent profit with minimal outgoings.
How Does It Work?
Let us take, for instance, a £20 each way bet, which means actually that the total cost of the stake you are placing is £40. Here, you pay £20 for a wager for the victory and £20 for the place. If your player gains the upper hand, you’ll receive both the victory dividend and the dividend for the ‘place’. In this case, it’ll be the first place. If the athlete comes the second or the third, you still receive certain dividend, though in this situation it’ll be a bit lower.
Thus, what is each way bet? It’s a kind of wager, in which your stake is twice higher, and the chance of winning is also greater. Many bookmakers pay one-to-four or one-to-five of the odds you backed, though these figures may vary from company to company. Besides, they may consider only three places as the winning ones and may widen this list up to four or even five places. Thus, before you consider an each way bet calculator, take time to find out all the details of the chosen wager. As a rule, for small encounters bookmakers make only two ‘winning places’, while in bigger contests there may be four or five places paid.
Let us say that you have a £10 each-way stake on England to win the 2018 FIFA World Cup at 10/1 with a bookmaker who pays out 1/5 odds and three ‘winning’ places. Should the chosen country gain the upper hand, you’ll make a profit of £150 – £100 for the victory and £50 for taking the ‘top place’. If England loses in the final match, i.e. it finishes the tournament in the second place, you’ll get £40 – you will win £50 minus the £10 you’ve paid for the stake on the victory.
When to Use Each Way Bets?
This type of wager is effective for value players. For instance, you may believe that the chosen runner athlete will show himself in the best light, but you are not dead sure that he’ll manage to come off with flying colors. In this case, you should ask yourself ‘what does each way bet mean?’ and seriously consider this variation of wager. In fact, it’s the best variant in such situations, as you feel confident that the chosen sportsman will be, at the very minimum, the second or the third. An in any case, this type of stake will help you receive the award you’ve deserved.
Each way betting is also a stellar choice for those who want to support social race-goers. In this instance, you won’t have all your eggs in the same basket, which is quite risky irrespective of the tournament features. In other words, when people ask you ‘how does an each way bet work’ you may say that it works as an insurance wager. Instead of making one risky win bet, you’ll have several places that are sure to give you certain reward. At the same time, you don’t deprive yourself of a pleasure to claim your prize if your best player gains the upper hand. Thus, this variation of betting is used when a person wants to avoid loss in the most favorable manner.
Each Way Bet Calculator
Now that you know the features of this wager type, it’s worth discussing the way the stakes of the kind are calculated. In fact, there are many websites, on which you will easily find out how much you can win with certain bet and the chosen bookmaker. Let us consider some vivid examples.
Say, you place a £1 each way wager at odds of 8/1 for a win and 2/1 for a place. In this case, the total sum you’ll have to pay out is £2. If the athlete you’ve selected wins, you’ll receive £8 for his victory and £2 for the place he’s managed to take. All in all, your total profit will be as much as £10.00 plus you will receive your stake back. If the sportsman you’re backing takes the second or the third place at quarter odds, your profit will actually be only £1. With an each way bet explained, you may say that a £1 bet at odds of 2/1 gives a different return, £2 to be exact. But you should take into account that you’ll have to cover another stake of yours, which has lost. Therefore, your net income will amount to as much as £1.
As is evident from the example, the greater the initial price of your selection, the higher your return. It depends directly on your selection and the odds for the player you select. Now, with an each way bet explained, you see that it’s a superb option suitable for the cases when are going to back promising outsiders and so-called black horses that can throw a curve ball throughout the tournament. The cost of places may vary from one bookmaker to another, but in general this additional value of each way bets is highly estimated by most punters.