Ever been in a chat about the big match and someone throws in the term “each way” when talking about their bets, leaving you a tad confused? You’re not alone!
Betting lingo can sometimes sound like a whole different language. But don’t worry.
We’re here to break down what does each way mean in football betting, and trust me, it’s not as complicated as it sounds.
Just read our easy explanation below and you’ll never have to ask the question again.
‘Each Way’ Bets Explained
In betting, you might come across the term “each way” which is often abbreviated as “E/W”.
It basically means that you are betting that your team will win or finish second.
When you place an each way bet in football, you’re essentially making two separate bets:
- Win Bet: This is a bet that the team you choose will win the match
- Place Bet: This is a bet that the team you choose will finish in one of the top positions, typically first or second place
Depending on the bookmaker’s terms, this can sometimes include a third place or even further down. This really only applies to tournaments and not individual matches.
How It Works
An each way bet costs twice as much as a normal bet because you’re betting on two outcomes.
For example, if you bet £10 each way, it will cost you £20 in total (£10 for the win and £10 for the place).
WIN: If your team wins, you’ll get a payout for both the win and the place.
PLACE: If your team doesn’t win but still finishes in one of the top positions (like second or third, depending on the bookmaker‘s terms), you’ll only get a payout for the place bet.
The place payout is typically a fraction of the win odds. In most cases, this is either one quarter or one fifth of the quoted odds.
LOSE: If your team doesn’t win or place in the top positions, you lose both parts of your bet.
Football Betting Example
But you’re not daft, you know how difficult it is but still think they could at least make it to the final.
Basically, you believe that England can be 1st or 2nd in the World Cup.
So you decide to put a £5 each way bet on at odds of 10/1. That way, you are covered if they win or finish second.
That each way bet is made up of £5 on England to WIN and £5 on them to be SECOND. The bet will cost you £10 but it covers both outcomes.
If England Wins:
You win the “win” part of the bet, so you get 10 times (10/1) your £5 win stake = £50, plus your original £5 stake back.
You also win the “place” part of the bet. But this is at a quarter of the odds (a quarter of 10/1 is 2.5/1).
So, you get 2.5 times your £5 stake = £12.50, plus your original £5 stake back.
In total, you get: £50 + £5 (win) + £12.50 + £5 (place) = £72.50
If England Is Second
You lose the “win” part of the bet. So you get nothing for your first £5 bet.
However, you win the “place” part of the bet (2.5 times your £5 stake = £12.50, plus your original £5 stake back).
In total, you get £12.50 + £5 = £17.50
If England Finishes Third Or Worse
You lose both parts of your bet, so you’re out the full £10.
Is A Football Each Way Bet A Good Idea?
Let’s chat about whether going “each way” with your football bets is a smart move.
First off, these bets can be a good option if you’re confident, but not overly confident, about your team’s chances of winning.
They have a good chance and you still think they might sneak into one of the top spots.
When you go each way, you’re kind of hedging your bets. If your team doesn’t come out on top but still nabs a top spot, you’ll still get some cash.
But remember, because it’s like placing two bets, it’s going to cost you double.
So, it’s essential to weigh if the potential safety net is worth the extra cash.
If you’re feeling adventurous and reckon your team has a fighting chance, an each way bet can be a decent gamble.
But, if you’re super confident about a win, maybe stick to a straight-up bet.
Like all things betting, there’s no one-size-fits-all answer. So, trust your gut, keep it fun, and never bet more than you can afford to lose.
We hope we’ve explained your original question: what does each way mean in football betting and that you can now confidently assess whether it is the right option for you.
Just make sure that you always understand the terms and conditions of your bets and gamble responsibly.