If you like betting on football tournaments, you may have heard of each way bets. These two-part bets allow you to bet on a certain team winning or placing in an event. In this short guide, we'll walk you through the basics of each way bets in football, including what they are, how they work, and how much you can win or lose with them!
What Is an Each Way Bet?
An each way bet is a bet consisting of two parts: a bet that the selection will win the event, and a bet that the selection will place in the event. It's a common bet in the horse racing world, where punters receive the greatest reward if their selection wins, but still walk away with something if their selection places.
Each Way Bets in Football
Each way bets can also be used when speculating on football tournaments, since teams also have the chance to place in the tournament. However, each way bets aren't used in standalone football matches, since a team can either win or lose — and there is no equivalent to placing.
How Do Each Way Bets Work?
It's easy to understand each way bets if you think of them as being two separate bets: one bet that the selection will win, and one bet that the selection will place. If the selection wins the event or tournament, then both parts of the bet are won. If the selection does not win, but still places in the tournament, then the win bet is lost and the place bet is won. If the selection neither wins nor places, then both parts of the bet are lost. What it means to place can vary between sporting events. In most cases, a team that places may be any team that comes first, second, third, or even fourth. Before you place an each way bet, you should always check what the rules are for placing.
How to Calculate Each Way Bets
If you want to calculate how much you stand to win — or lose — with an each way bet, the best way to do so is by calculating the two halves separately. In a traditional each way bet, the stakes for both parts of the bet are the same. So, if you place an each way bet with a £100 stake, you will effectively be placing a £50 bet that your selection will win, and a £50 bet that your selection will place. The odds for winning and placing will be provided to you by the bookmaker. As an example, let's imagine you place an each way bet for a total of £100, with odds of 3.0 that your selection will win, and odds of 1.5 that your selection will place. In reality, this is a £50 bet that your selection will win (at odds of 3.0), and a £50 bet that your selection will place (at odds of 1.5). If your selection wins, you'll win both parts of the bet. The proceeds from the win half of your bet will amount to £50 x 3.0, or £150, and the proceeds from the place half of your bet will amount to £50 x 1.5, or £75. So, in total, you'll walk away with £225. If your selection places, but does not win, you'll only win the place half of your bet. This means you'll lose the £50 bet that your selection will win, but you'll still walk away with £50 x 1.5, or £75, from your selection placing. Finally, if your selection neither wins nor places, you'll walk away empty-handed.
How to Place an Each Way Bet
Nowadays, most betting exchanges and bookmakers offer the option to place an each way bet in just one click. For example, on both the Betfair Sportsbook and Betfair Exchange, every horse race has an each way market where you can automatically place an each way bet. Some football tournaments may also have an each way market. Even if your betting exchange or bookmaker of choice doesn't support each way bets, you can still place them manually as long as you can bet on your selection placing in the event. All you need to do is decide on your stake, and place separate bets that your selection will win and place.
Each Way Accumulators in Football
A popular variation on each way bets is to link them together in the form of an accumulator. With an each way accumulator, you effectively end up with two separate accumulators: one for the selections winning, and one for your selections placing.
Each Way Doubles
In an each way double, you choose two selections that you think will win or place in their respective events. In order to win the win part of your double, both teams need to win. In order to win the place part of your double, both teams need to place. If only one team wins or places, you won't win that part of the accumulator.
Each Way Trebles and Multiples
For each way trebles and other multiples, the idea is the same. You'll only win the win parts of your bets (and consequently, the place parts of your bets) if all of your selections win their events. Likewise, you'll only win the place parts of your bets if all of your selections place in their respective events.
How to Make Money with Each Way Bets in Football
Truth be told, there aren't really any clever ways to make money with each way bets. You may be able to find arbitrage opportunities by placing each way bets automatically (if that's supported by your bookmaker or betting exchange of choice) and laying them manually. If it's value betting you're interested in, you can think of each way bets as a type of insurance. You're ultimately betting on your selection winning, but even if they don't come first, you can still walk away with something if they place above a certain position.