As any frequent punter will know, the two primary methods of betting on horse racing focus on backing a horse to win or backing it to place. There are plenty of positives which back up why people bet in both ways – and placing bets on horses to win races outright is definitely more straightforward – but if you’re wanting some security behind your bet, it would make sense to get involved in each way betting.
Although the main reason for being able to bet on an each way basis often gets misunderstood by those who are still finding their feet in horse racing betting, the best way to describe backing a horse to place would be to say that, while you won’t get odds as strong as you would through betting on a horse to win, you’ll stand a stronger chance of landing your bet as your chosen horse doesn’t need to finish first.
How does Each Way betting work?
Each bookmaker has a handful of chosen places, where if the horse you’ve backed finishes somewhere between first and fourth in the race, you’ll be paid out at a fraction of the original price. The odds on your each way bet will decrease depending on where the horse finishes, but as long as they finish within the chosen number of places, you’ll be paid out to some extent.
It would be fair to say that each-way bets and win bets are equally as popular in horse racing, which is shown in the variety of different markets on websites like The Winners Enclosure, so it all depends on how risky you’re willing to be with your bet. You also need to bear in mind how much you’ll be paid out for your each way bet depending on where your horse finishes, remembering that if your horse finishes outside of the number of places chosen by the bookie you’re betting with, you’ll end up with a losing bet.
When you go to place your each way bet, you’ll be told to wager two times your stake, which is something that you won’t find with most other bets that you’ll make. This is because half of your stake is going towards backing the horse to place, and the other half is going towards backing the horse to win, so you’ll only be able to take the full amount of potential returns offered by the bookmaker if your horse wins the race, but you can still take a percentage of your winnings if it places.