Each Way Bet

[GreekWay]

As I am completely clueless in horse racing can anyone help me and explain me what an each way bet is?

Cheers.

[horseplayer]

straight from wiki

An each-way bet is a wager offered by bookmakers consisting of two separate bets: a win bet and a place bet. For the win part of the bet to give a return, the selection must win, or finish first, in the event. For the place part of the bet to give a return, the selection must either win or finish in one of the predetermined 'places' for the event, such as in first "place" or second "place". The odds paid on the place part of the bet are usually a fraction (commonly 1⁄2, 1⁄3, 1⁄4 or 1⁄5) of the win odds. The trade-off being that one has a greater chance of making one's bet in trade for getting less payoff for doing so. Examples are domestic football knockout competitions (e.g., FA Cup) where the quoted place terms may be 1⁄2 the odds a place 1st or 2nd and horse racing where the quoted place terms may be 1⁄5 the odds a place in 1st, 2nd, or 3rd.


best thing to do if your not sure is use a bet calculator to check your returns (loads on google) make sure you enter the correct place terms

[GreekWay]

So basically is an each way bet 2 bets in 1?

[TightEnd]

£5 e/w at 10-1 e/w 1/4 the odds, 1,2,3

you have £5 the win at 10-1

you have £5 the place at 2.5/1

£10 staked

[GreekWay]

I think I got the point.

So my stake is being split in two. One goes to the Win market and the other half in the Place market.

Thanks Tighty.

[TightEnd]

yes

the betting site will tell you the terms

eg 1/4 first 3

1/2 top 2 etc

[kinboshi]

If your horse wins, you win the win market bet, and the place market bet.
If your horse comes second, you just win the place market bet.

For some events (the Grand National for example), the place bet can pay down to 4th, rather than the usual 3rd.

[GreekWay]

I saw on skybet that they only show the price for the Win market. What are the odds for the Place market?

[TightEnd]

depends on the terms

should be a box to tick for e/w

[GreekWay]

I saw the box but I didnt see any odds for the Place market.

Should I calculate the Place odds from the winnings that are being added up?

[TightEnd]

I saw the box but I didnt see any odds for the Place market.

Should I calculate the Place odds from the winnings that are being added up?

somewhere on the page it will tell you the terms

eg 1/4 the odds 1,2,3

[AndrewT]

There generally isn't a 'Place market' as such - as explained, the place part of the bet has odds which are derived from the Win odds.

If you just want to bet place, there are markets on Betfair and also the Tote.

[GreekWay]

Thanks for the help guys.

Really appreciated.