The common perception in the world of sports betting is that wagers can only be placed on simple options, such as a selection winning or losing. If the selection wins, there is a payout, if the selection loses, all the wager cash is instantly lost. But nothing could be further from the truth. There is a vast range of betting option, most of which are specifically designed to ensure that the punter walks away with at least some cash, even if not winning outright. One such betting option is referred to as Each Way.
An Each Way bet is commonly seen as an insurance bet, which will help with a lesser, but still significant payout, should the primary choice not come to pass. Simply put; 2 separate bets are placed, 1 on a selection to win, and another on the selection placing.
So, if a primary choice doesn’t win, at least a smaller payout will still be earned if that option places. If the option doesn’t place either, then, of course, all wager amounts are lost.
How It Works
Here is as an example of an Each Way option, using the sport that most commonly provides the bet; horse racing. A bet may be placed on a horse to come first, but with a backup bet, the Each Way bet, that says a payout will also be awarded if that same horse also places, or comes in 2nd, 3rd or 4th.
So $5 may be placed on the selection coming first, and a separate $5 on the same horse placing, for a total amount of $10 being put down.
However, these factors may vary depending on the size of the field. If there is only a limited number of horses running, a payout may only occur if the chosen horse comes in 2nd. In a much larger even, such as the Grand National, payouts may include up to 4th and even beyond.
Similar rules may apply to football tournaments, depending on the size of the tournament, and the number of teams that are competing.
Each Way Payouts
Of course, succeeding on an Each Way bet will be a significantly smaller payout than succeeding on a To Win bet. Though, the Each Way payout amount will likely still be more than the original amount staked, making it a viable option.
The Each Way payout amount will generally be indicated as a fraction of the To Win payout. As such, it will appear as something like 1⁄4, indicating one quarter the amount of a To Win payout.
Weighing Up The Options
As with all sports betting, it is important to carefully consider options before putting down any money. It should always be kept in mind that there is a huge variety of options offered by bookmakers, and that each has its own benefits and drawbacks.
If there is any confusion about what a wager involves, the bookmaker’s help centre can be contacted in order to clear matters up.