What is Each Way betting (EW)?

What is Each Way betting (EW)?

Stakes placed on Win and Place, and each way is a combination of two bets. The two bets have the same stakes. The 'Win' part is betting on your selection (often a horse) wins a specific event (e.g., a horse race). The 'Place' part of the bet is for the choice to place within the top 2,3,4 which depending on the event and bookmaker.

Each-way betting is prevalent in horse racing and greyhounds and not only.
How to Calculate Each Way Payout?
In each way betting, if your selection wins, you win both parts of the bet. If your selection only places, but doesn't win, you lose your 'Win' part, but win the 'Place' part of the bet. If your selection doesn't place - the entire bet is lost.

To give an example with real numbers, let's say that in a match the team A has odds of 3.00 to win. Each way bet is at 1/4 (the fraction set by the bookmaker) for places 1-3. You place an each-way bet of 10€ (or 20€ in total).

If your Team A wins:
you will get 10€*3.00 for the one bet and 3.00*1/4*10€ on the other or a total of 37.5€

If Team A places within the top 3:
your return will be 3.00*1/4*10€ = 7.5€

If your Team A doesn't place:
you lose your 20€ bet

How to Find Out How Many Places are Paid?
Bookmakers set different numbers of places that get paid. That changes by bookmaker, race type, and the number of runners. The more the runners, the more places will be paid.

The usual place terms are as follows (valid for bet365, Betfair, and many more):
NON HANDICAP RACES:
2-4 Runners Win Only
5-7 Runners ¼ the Odds 1, 2
8 or more Runners 1/5 the Odds 1, 2, 3
HANDICAP RACES:
2-4 Runners Win Only
5-7 Runners ¼ the Odds 1, 2
8-11 Runners 1/5 the Odds 1, 2, 3
12-15 Runners ¼ the Odds 1, 2, 3
16 or more Runners ¼ the Odds 1, 2, 3, 4

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