Horse racing is one of the most entertaining sports you can bet on. It’s often fast-paced, thrilling, and rewarding when you win the bet. However, betting on a horse to win alone most of the time can make you lose your bet all the time.
This is where the each-way bet comes in, where your bet is split between two bets to give you the chance to win something out of it. That said, let’s look at each way betting and how profitable it is with Horse Racing.
What is Each-Way Betting?
An each-way bet is a type of bet in which punters double their stake by placing two bets in one stake. The bets include a team selection to win and a bet on their range of finishing positions. This bet is especially popular with horseracing, as you can still win something even if your horse doesn’t win.
You can also use it in tournaments where positions are possible, like golf and track racing. While it might be difficult to bet on the winning, you can bet on which position the player will finish. You can do this effectively with the each-way bet system.
How to Calculate Each-Way Bet Winnings
Let’s pick horse racing where the winning odds are 10.00 and place odds are 1/4 of the win odds. A $10 each-way bet will split the amount into two: $5 for the win bet and $5 for the place bet. This means that when your bet wins, you will get $5 x 10, which is $50.
However, if you don’t win but your bet falls within the place odds you choose, you will win $5 x 1/4 of the win odds, which is 2.50, which is $12.50. Although winning on the place bet is lower than winning outright, it still gives you a chance to win something and not lose your total bet amount.
How To Pick Horse Racing Each-Way Bets
There will always be moments when you place bets and win just by guessing. However, if you continue doing this, you will eventually lose a lot and exhaust your bankroll. You must, at some point, sit down and analyse different horse races, the conditions of the horses, and the trends to grasp which bets are likely to win. That’s why we have highlighted some strategies you can use to increase your chance of winning.
The first one is studying old-form books. These always include include data on horse races over time. Check for which horses have been winning recently and their positions after their races. This will give you a more informed position on your bets.
Next, take advantage of extra place races. These are given by sportsbooks for bettors to take advantage of and at least win profit. With extra place bets, you will not be losing all your bets. Some bettors always add two or three extra places on some races. However, stick to your process of choosing races and predicting the correct horse to win.
Put The Odds In Your Favour. Always look for bets that have a very short-priced favourite. This must be with two hopefuls behind it in the betting and the rest of the field sporting high prices. Although the two hopefuls might not win, there is the possibility that they will win. If, unfortunately, the short-priced favourite doesn’t win, the next two hopefuls can win you the race. The place bets of these two bets can get you your desired win.
Final Thoughts
Each-way betting is an excellent way to enjoy sports betting. However, you must learn to pick match selections carefully and take advantage of extra-place races. While you hope for a win, each-way betting gives you consolation rewards for coming second or third and sometimes fourth or fifth, depending on your place bets.