Each Way Bet
What does Each Way Bet mean in betting?
Basically, Each Way Bet is a type of bet that includes two bets. One of them is for the win and the other one is for a high placing. The second bet is evaluated based on a percentage of the win odds.
It’s good to know that the percentage depends on the sport and event the bettor has selected. For instance, when it comes to football competitions, the each way place part is typically 50% of the odds for first and second place. There are many different types of bets out there, but one of the bets that have the most unique structure is the Each Way Bet.
What is an Each Way Bet?
As we have already mentioned, an Each Way Bet includes two separate bets – a win bet as well as a place bet. To win the win bet you must choose a selection that will win in the end. On the other hand, for the place bet to bring profit, the selection you’ve made must win or end in one of the places for the event/tournament that were determined before its start (usually, a 1st place or a 2nd place). The odds related to the place bet are typically a percentage of the win odds like 50%, 30%, 25% or 20%.
Each Way Bet Example
One of the most common sports, where Each Way Bets are used, is horse racing. For instance, in case a player uses an Each Way Bet on a horse to win the race at odds of 3.00 if the horse wins they will get the full 3.00 odds and the profit from the place odds. However, in case the horse ends up in the second place, which is one of the predetermined places that are still in play for Each Way bets, then the player will get almost the same amount of money they have invested.
How does an Each Way Bet work each way?
As the name suggests, an Each Way Bet works in both ways. This is a type of insurance betting where you can get all the money or at least some of it back even if you miss one of the two selections you’ve made. However, in order to achieve this goal, the place bet must be close to the winning bet. Keep in mind that the stake here is doubled. So, in case you want to place £10 on an Each Way bet, you will actually wager £20 in total because this bet consists of two independent bets. Unlike accumulators, doubles, and trebles, an Each Way bet guarantees a return even when one of the two selections are not winners.
Advantages of making an Each Way Bet
This type of bet provides a certain amount of insurance. It is especially beneficial for those who enjoy betting on horse racing, football and golf. In addition, this is a good solution for those who like to bet on risky events with high odds.
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