Each Way Bet 2020: Strategy, Tips & Top Betting Sites
It’s commonly said that people can’t have things both ways. But there are some forms of sports wagering that prove that saying wrong. The each way bet is a wager where bettors can have things both ways, as they are able to place this popular wager to account for multiple combinations at the top of a competition’s final standings. In this guide to the each way bet, have the each way bet explained thoroughly so that bettors can feel confident in making their own each ways.
- Bettors place a wager on two finishers in a race or competition
- If both selections finish in the top two, bet is a winner
- Finishing order does not matter if top two is correct
What is an each way bet?
An each way bet is a wager that acts like a multi bet of sorts, in terms of the fact that bettors can win the bet based on two different competitors finishing in the top two places. The bet can win regardless of where those two finish, as the finishing place can be interchangeable. This bet is ideal for bettors who feel confident in two teams or two competitors finishing at or near the top of a competition. In order for bettors to collect their winnings, though, bettors will need their two selections to place in the top two to win. Finishing near the top two won’t be good enough for a selection to win and get paid out.
How does each way betting work?
An each way works as a single bet even though there are two components to the bet. Those two components are the two finishers that need to come in the top two places for the bet to be successful. As one would expect, the each way odds that a bettor sees will depend on the competitors that they are backing to finish in the top two. Picking longshot odds to finish in the top two will yield a higher return than picking the established favorites to do so.
To place an each way bet, a bettor should start out by choosing the sport and competition that they want to place an each way bet on. Once the bettor figures that out, they can make the two selection choice that they want to place into their each way bet. Each selection usually comes bundled together, but some bookmakers might structure the bet so that a bettor will have to input each of the two selections on their own.
Regardless, once the two selections are made, bettors can focus their attention to the risk amount of their bet by picking a stake amount. This is where a bettor will decide the amount that they want to stake on the each way bet, which will determine the amount that the bettor stands to make if the bet is a winner. Bettors should keep an eye on the each way betting rules in terms of each sport to make sure that their bet stake sizes are compliant with those regulations.
Advantages of each way betting
In terms of advantages to placing each way bets, there are plenty that make it superior to plenty of other wager types. To answer the question of is each way betting worth it, bettors need to remember that their top two finishers can finish in the top two places in either order to be a winner. Instead of a regular exacta bet where the results have to finish in the specific order in which they were placed, bettors just need to be close enough by having their chosen sides finish in the top two places in either order.
Another positive to the each way bet is the fact that each way betting doesn’t have a standard set of odds. Bettors who are comfortable with backing underdogs can clean up on each way bets, as each ways featuring those competitors often see odds that are far more favorable than those that highlight the favorites.
And perhaps the biggest plus to the each way bet in terms of advantages is the fact that the bet is available across a wide variety of sports. Once a bettor gets comfortable with each way betting, there is virtually no limit as to the number of competitions that it can be used on throughout the world of sports. That kind of flexibility always makes a wager type appealing.
Drawbacks to each way betting
On the other side of the equation, the fact that the each way bet serves as a long term bet in most sports can be something of a drawback to the each way bet. While this kind of bet serves as a single race wager in horse racing to pick the top two runners, the majority of each way bets in other sports center around which teams will place in the top two of a title race of some kind. Those races often take a long time to get figured out, which can be a source of frustration for bettors who want to have their bets settled so they can move onto the next one.
Example of an each way bet
In our example of a two part each way bet, we will go to the racetrack, where horse racing wagering is a place that frequently sees that type of bet placed. Let’s say, for this example, that Horse 1 and Horse 2 are going to be runners in the same race. They are both the favorites to place at the top of the race, so their each way wagering odds are at even money, with both runners needing to finish in the top two places for the bet to come home.
At even odds, our $100 example bet would yield $100 if both runners come home in the top two places. This bet is commonly referred to as an exacta box in horse racing, where it is at or near its most popular. And the best part of placing an each way bet at a bookmaker as opposed to a race track is the fact that a bettor doesn’t have to go back and forth to the gambling window to get the job done. Instead, the bet can be placed at home or elsewhere.
Sports that allow each way bets to be placed
As far as each way wagering types are concerned, there are plenty of sports that allow this type of wager to take place. It is most common as an exacta box in horse racing, but bettors can get their fill of each way action in plenty of other sports outside of the each way horse bet. Bettors can also place each way bet football action, each way bet golf action, and each way bet tennis action depending on the availability of those markets at a given time.
In football, each way wagering could cover which two teams will compete for the Super Bowl. In golf, picking the top two finishers in a major is a popular form of the each way bet, while the top two finishers of a tennis major could be the subject of an each way wager. There are other sports that could support the each way bet as well, with markets on the two NBA Finals competitors being another potential each way market.
Each way betting strategy
Perhaps the best choice for an each way betting strategy is to not be afraid to back teams that might not be the odds on gambling favorites to place in the top two. Even thinking with slightly unconventional wisdom could unearth some each way wagering picks that could win if the odds on favorites don’t. And perhaps just as important is the fact that thinking outside of the box could yield a higher return for bettors who want to win more than just the minimum from an each way by backing the top two favorites.
Also, a smart piece of each way wagering strategy is to use an each way bet calculator. Doing so can help bettors figure out what they stand to win in the event that their each way bet comes to fruition. And being able to go through the different combinations of each way bets to project a return without having to enter every single combination into a sportsbook is a massive time saver. Here are a couple of other strategic tips.
- Stick to competitions you know well to maximize chances of winning
- Evaluate any changes in a team when placing these wagers
- Don’t always assume the top two teams from last year will repeat
Find the right bookmaker to place each way bets
Now it is safe to say that you have a deep knowledge of each way betting, as this each way gambling guide was incredibly thorough. For bettors who want to test their newfound skills with this type of betting, they will need to select a sportsbook where they can do that. And with our sportsbook comparison tool, bettors can evaluate each sportsbook based on the criteria that matters most to them such as bonus terms. Being armed with that information, you and your fellow bettors can choose the ideal bookmaker for your needs. So stop waiting and get into the game with your sportsbook bonus today.