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Why am I losing money on each way bet?

It's important to consider the win odds and place odds for your selection when deciding whether to back them each way. This is because you lose money overall on an each-way bet that places if the place odds aren't evens (1/1) or more.

telegraph.co.uk - What does an each-way bet mean and how does it work? - The Telegraph

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Make Your Bookie Cry And Pull The Hair By Generating $23,187

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An each-way bet consists of two bets of equal cost, a win bet on your selection to win an event and a place bet on it to finish within a certain number of places specified by the bookmaker beforehand. That’s why a £5 each-way bet requires a total stake of £10 (£5 win and £5 place). Each-way betting (commonly abbreviated to EW or E/W) is normally associated with horse racing, but you can still make an each-way bet on other events where bookmakers offer it, such as football, golf and even reality TV. Find all of the best free bets to use on this year's World Cup in Qatar

The two parts of an each-way bet

Win bet Wins if the selection wins the event in which they are competing Place bet Wins if the selection finishes within the specified amount of places If your selection wins... both the win and place parts of your each-way bet pay a return If your selection places... only the place part of the each-way bet pays a return

Want to place a Grand National each-way bet?

Find all the best Grand National free bets for the 2022 Aintree Festival.

How do you make an each-way bet?

To make an each-way bet there are three things that it’s important to note. Odds: These are the odds for the win part of your each-way bet and dictate (along with the each-way fractions) the odds for the place part of your each-way bet. Each-way places: These tell you the positions your selection has to finish in for your place bet to win. Places on offer can differ. Find out more on this below. Each-way fractions: The odds on the place part of your each-way bet are a fraction of the win odds, because your selection has a greater chance of placing than winning. Once you are aware of these factors you can tick the each-way (EW) box on the betslip of your betting site and place your each-way bet. Remember your stake is doubled for an each-way bet.

How many places are paid on an each-way bet?

The number of places paid for each-way bets is at your bookmaker’s discretion and is specified where the market is listed. It forms part of the each-way terms along with the place odds (see below). In horse racing betting a generally recognised minimum number of each-way places is offered based on the size of the field in the race.

Extra places and enhanced each-way terms

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Bookmakers often offer more than the standard number of each-way places or more generous each-way fractions on selected daily races as a form of existing customer offer. Bettors are advised to shop around for the best possible each-way terms when it comes to high-profile races such as the Cheltenham Gold Cup or the Grand National, where the bookies are always trying to outdo each other.

How do I decide if an each-way bet is worth it?

Each-way bets are more worthwhile in some circumstances than others. Here are two questions to consider if you are trying to work out whether to bet each-way or win only:

Will you at least break even if your selection places?

It’s important to consider the win odds and place odds for your selection when deciding whether to back them each way. This is because you lose money overall on an each-way bet that places if the place odds aren’t evens (1/1) or more. A simple trick to ensure you only bet each-way on horses at odds that will return at least your total stake if they place is find the each-way fraction and invert it to give you the odds at which your each-way bet will break even if it places. E.g. each-way fractions of ⅕ give you minimum odds of 5/1. Bet £5 each way on a horse with win odds of 5/1 (total stake £10). If it places you lose your £5 win bet, but the place part of your each-way bet pays out at a fifth of 5/1, which is evens (1/1). This means you get back the £5 stake from the place part of your bet plus £5 winnings (£10).

Are there enough places to make an each-way bet worthwhile?

This is particularly pertinent in horse racing, where the number of each-way places on offer can differ according to the number of runners in a race. Some combinations of field sizes and each-way terms can be more attractive for each-way bets than others. For example, both an eight-runner race and a 15-runner race pay out on three places for each-way bettors as standard. In the eight-runner race your 16/1 each-way bet only has to beat five rivals in order to place, whereas in the 15-runner race they have to finish ahead of 12 rivals.

telegraph.co.uk - What does an each-way bet mean and how does it work? - The Telegraph

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