What is an Each Way Bet?
Many horse racing bettors will have asked themselves ‘what is an each way bet?’ In this article, we’ll be looking into what exactly an each way bet is, when and how to use them, and why they are popular with horse race betting fans.
Not only that, but we’ll also be looking closer into each way bet strategies, to help you get the most out of this style of horse race betting.
By the end of this article, you should be confident in the critical aspects of an each way bet, and the rules and terminology. Choosing the best horse racing system is the key to success, so what is an each way bet? And how can you use it to your advantage?
Let’s dive into the details so you can increase your choice of betting types when wagering on horse racing.
Each Way Betting Explained
An each way bet is a bet promoted by various online horse racing bookmakers, consisting of two different wagers, a bet for ‘place’ and a bet to ‘win’.
In order for the ‘win’ aspect of the wager to come through, the particular bet must win or finish in the first place. For the place aspect of the wager to come through, the selection must either win for a finish in one of the positions highlighted before the bet. These odds often come in as fractions of the winning odds.
With that in mind, an each way bet is used to broaden your chances of a successful bet, albeit at reduced odds than if you selected a horse for the win only.
The total bet is twice a normal wager, given that an each way bet relies on two different bets.
Why Are Betting/casino Guides & Strategies So Important?
Utilizing betting guides, strategies and betting types, such as an each way bet, is vital if you’re looking to give yourself the best chance of winning when gambling. It’s no secret that all odds are positioned so that the horse racing bookmaker you choose will win more often than not. Otherwise, operators would be out of business in a flash.
That doesn’t mean that you have to lose. Utilizing information from guides and different betting strategies and betting types, such as an each way bet, will allow you to make more informed and educated wagers. Each way betting is especially helpful if you’re relatively new to horse race betting, but first, you might need help to find the answer to the question: ‘What is an each way bet?’
If done correctly, betting strategies are relatively low-risk, as they’re determined by maths, rather than by luck. An each-way also reduces the impact of a potential losing bet by covering more outcomes. Of course, there’s always an element of chance when betting on horse racing.
Who Should Make Use of the Guides?
Most people would assume that horse race betting guides and strategies, such as an each way bet, are only for beginners, but they couldn’t be more wrong. Even as a more experienced bettor, there’s a lot you can get from guides and strategies.
Even if you’re more experienced and have answered the question ‘What is an each way bet?’, you may not be aware of the strategies that can be used with this betting style, or the potential winnings that come with it.
That’s why this each way bet guide is available for anyone who is looking to improve their knowledge and increase their chances of winning when horse race betting online.
Betting Guides & Strategies
The Basics of Betting
As well as learning what an each way bet is, odds are one of the most basic aspects of betting, so it’s crucial to know what they are so that you can calculate any winnings. Odds allow you to understand the probability of an event or action taking place, which will give you an idea of whether you want to gamble on if a certain event will happen or not.
Odds are often given on horse racing events and meetings. However, more advanced online operators also offer odds on smaller and more specific events taking place. In-play live betting odds that change as the action unfolds are also increasing in popularity. These added details add new layers of fun and excitement to gambling online.
As well as single bets, which are made on just one event occurring, you can also bet on a range of different outcomes happening, which is known as an accumulator, as well as the aforementioned each way bet.
Money Management and Bonuses
Lots of online horse race betting sites promote bonuses for new users to capitalize on. The reason for this is to get new users to choose them as their operator of choice. The idea is that any monetary value they give away will be won back in the long run.
Using these welcome bonuses is a brilliant way to place some bets at a lower risk than usual, with strategies such as each way betting or matched betting.
It is, however, worth checking all of the terms and conditions, to make sure there are no unpleasant surprises when you deposit any funds into your chosen site.
Understanding Betting Strategies
Each way betting guides aren’t the only horse race betting strategies out there, and it’s worth having a basic understanding of the following strategies to take your gambling to the next level.
Matched betting is an activity frowned upon by bookmakers and each operator certainly wishes it wasn’t such a popular strategy. The process involves betting using welcome bonuses and deposit offers to ensure a profit from your chosen provider.
Read more about matched betting and discover if it’s something you’d like to try out with your welcome bonus. Don’t miss out on the other horse race betting guides and strategies we’ve created for you either.
Fixed Wager Betting
This form of betting is seen as being a little simpler than the two mentioned above. Simply put, your wager never changes, regardless of how much you win or lose.
Useful Betting Knowledge
As well as betting strategies, there are also several other aspects of horse race betting online that you should be aware of to be successful and get the most enjoyment.
Is Gambling Online Legal?
In certain jurisdictions, yes, but there are a few essential and required things to understand and validate. For starters, your site of choice needs to have all of the necessary licenses to operate in your state. These come from organizations, such as the US Online Gambling Commission, and it’s a legal requirement to have their license to work in the US.
You must also be above the minimum gambling age in your area, which in the USA is 21. Sites will cross-check this information, so don’t bother lying to try and work around this law.
Gambling Online Vs. Gambling Offline
There are a few differences between horse race betting online and horse race betting gambling offline. For starters, you have access to thousands more meetings, events, and races online. Of course, most bookmakers and tracks will cover the vast majority of horse race meetings, but it’s much easier to browse through them and discover a new event online, as well as less prevalent meetings.
On top of that, it’s far easier to compare odds online. It’s much faster to open a new tab on your computer than it is to drive or walk to another land casino for comparison.
Are Winnings Taxed?
Horse race betting online in the US is taxable, so you need to keep your records and file your taxes appropriately to avoid trouble further down the road. There’s a lot of information about the tax rules for gambling in the US online, so make sure you read through it to understand your obligations.
Betting Guide FAQ
Can I Bet on Horses Without a Strategy?
In theory, yes. However, you’ll be running the risk of being likely to lose more in the long run.
What Other Strategies Should I Check Out?
Other strategies that should be on your ‘to learn’ list include pick 6 horse racing strategy, in play horse racing, and when to hedge your bets to name just three. You should check out the guide and strategy section of our website for more details.
Is Each Way Betting Legal?
The each way betting strategy is 100% legal. Leading online horse race betting operators are aware of the system and budget accordingly for some users who utilize each way betting guides.
Each way betting is perhaps one of the simplest ways to start learning about horse race betting strategy, although really it’s just a type of bet that reduces your potential returns against a straight win bet, but increases your chances of success.
Using welcome bonuses is a brilliant way to try out strategies and betting types such as each way betting. It gives you a chance to use some of the bookmaker’s money to top up your qualifying deposit used to activate a welcome bonus.
Now you know the answer to the question “what is an each way bet”, why not give it a try next time you’ve got a hot tip for a big horse racing event? You could be on to a winner.