One of the most popular ways to place a bet on a horse is the ‘Each-Way’ bet, often written as e/w and the straight forward guide below should help you navigate this fairly simple process so that you get the most from your money!.
So when do you bet each-way on a horse? Ideally it’s when you believe that the horse you fancy will finish the race in either 2nd or 3rd place (and sometimes even 4th place if the race has 16+ horses running) but may not necessarily win the race because the favourite appears to be a shoe-in. But, on the off chance that your horse does win, the each-way bet covers 1st place as well.
The Each-Way can be broken down as follows: if you bet £1 each-way, it’ll cost you £2 and that is because the first £1 covers your horse for winning the race, the second part of the bet covers your horse if it fails to win but manages to finish in 2nd, 3rd or 4th place. You can’t bet on a horse each way if the race has less than 5 runners and a race with 5 ~ 7 runners will only pay out on 1st and 2nd place.
Make sure that you check the odds on your chosen horse because each-way bets only pay out either 1/4 or 1/5 of the quoted odds if your horse finishes in 2nd, 3rd or 4th place. Basically, you shouldn’t back a horse each way unless it’s odds are over 4/1, because you could never win enough to cover your original stake.
The picture above is of a Paddy Power online betting slip which you can see requires the minimum input to place a bet – click on the horse, betting slip pops up, put in how much you want to stake, tick the e/w box and your stake amount and potential returns (worked out if your horse finishes in 1st place) are automatically tallied for you. If you’re happy with that, click ‘Bet Now’ and you’re done!