Wondering what Each Way is when it comes to horse racing? Here are a few examples and tips on how to use them in one of UK finest bookmakers.
What is Each Way Bet on Horses in Ladbrokes
What is Each Way betting? It’s a type of bet that applies to race sports, such as horse racing. In essence, it’s a two-part bet. The first part of the wager is a win bet, and the second is a place bet.
After you’ve done the research, you’ll come to a conclusion as to whom you reckon will win. Therefore, a win bet is your selection for which horse will win the race. Horse racing wagers aren’t always as clear cut as other sports, such as football.
The horses can be unpredictable amongst many other attributes. There are more participants, and it’s an entirely different category of sport. That’s why each way betting is a saving grace. The second part of the bet is the place wager. The place positions will vary, depending on how many horses participate in the race. The bet allows the punter to make a profit still. If the horse doesn’t win, the bet covers you for if it places.
It’s a revolutionary concept because the horses don’t always maintain consistency from race to race. At Ladbrokes, this wager has you covered in case your predicted winner slips up. The odds of the win bet remain what the bookie provides, and the place part is a fraction of the win odds. The total stake is equally split between each part.
Imagine your stake on the win bet is £/€/$20, the total stake is £/€/$40 to include the place part of the wager. Both bets payout if the horse wins. However, if the horse doesn’t win, but still places, then only the place bet pays out.
Comparison to Other Bets
How do each-way bets compare to other types? Let’s take a look and compare them with others, specifically with stand-alone win wagers at Ladbrokes. For comparison, we’ll continue with the £/€/$40 from above.
A win bet at Ladbrokes is self-explanatory. It’s a wager that you place at the given odds on the runner you think will come in first. Because the stake is on one wager, and not split between two bets, Ladbrokes pays out the £/€/$40 at full odds. The profit on this bet is more substantial than its each way counterpart.
Some newbies confuse each way betting with exacta and trifecta bets. It is hard at first getting the gist of horse race betting just by placing a few wagers. Hence, the confusion between the types of markets. An exacta wager is when you predict the two horses that will place first and second. A trifecta is similar but is for the top three positions.
With these bets, you must predict the exact order that they’ll cross the finish line. If the horses don’t place in the predicted order, the entire bet is a loss.
Boxed trifectas are even more confusing to some new punters. It’s similar to a trifecta bet; however, the three horses can place in any order. You must only predict the top three for the race. Each Way betting at Ladbrokes, and other bookies, is on one horse, not multiple. You place these when you’re not confident in the horse winning. In other words, you do this if you think it’s going to be a close race.
The bottom line: If horse race betting is new to you, trying each way wagers is a superb way to get comfortable and involves gambling with a lower risk of losing money.
Advantages and Disadvantages
- At Ladbrokes, one main advantage of an Each Way bet is that it’s ultimately a form of insurance. If the horse doesn’t win, at least you have a fall back on the place part of the wager.
- On the opposite end of the spectrum, the main disadvantage of each-way bets is the lower profit you take if the horse wins. The profit is approximately 36% lower than placing a stand-alone win bet.
- You miss out on the benefits of the full odds and stake payout. If you’re confident in a horse for the winner, stick to the standard bet. This way you’ll avoid disappointment.
- If the participant doesn’t win, but crosses the finish line second or third (depending on the race), the payout is better than betting on a place wager. Bear in mind that it’s uncommon for Ladbrokes to provide place odds in horse races.
If you plan to gamble on the horses with Ladbrokes, then you must take a couple of factors into consideration, especially if you’re a beginner.
Each way betting is a type of insurance. You need to do the homework and analyse past races and performances. The best thing to do is to learn to use statistics in sports betting as this will have a positive effect overall. Horse racing wagering isn’t for the faint-hearted. If you want a successful track record, then you must do the work.
If you do your research, then you can make a well-educated guess on the winning horse. The difference between the winning horse and a horse that places second is usually very close. Each Way betting is perfect for these cases because if there’s a split second between the horse placing first and second, you’ll win part of the bet.
As stated previously, the results are incredibly close. Often, the winner can only be seen when you look at a photo or video from the finish line. Our eyes are too slow to catch the exact winner because they’re so fast. That makes each way bets that much better for new punters.
If you’re new, then take advantage of the Each Way betting option until you gain more confidence. The likelihood of winning is enhanced because the fallback of the place bet is there. At the end of the day, you can win some money back (provided that the horse places).
The winnings on a horse placing are better than wagering on a horse to place anywhere other than first. This way you can benefit from wagering on a horse that usually doesn’t win, but ends in the second or third position.