Different betting markets allow punters to profit from other elements of a sporting event, game, or competition. For example, a punter can select between an Asian handicap wager or a no-draw bet on a football game in La Liga. However, some betting markets are made explicitly for a particular event or sport that’s applicable. Consider each way wagers, which help a punter win a chance even if their prediction didn’t turn out as expected but still had a podium finish. Each way, bets apply to sports such as horse racing or swimming because of multiple participants in the race. A punter cannot use each way wagers between only two outcomes, such as a cricket match, football game, or boxing match.
What Is An Each Way Bet?
An each way wager is on one particular outcome to finish 1st, 2nd, 3rd, or 4th in a race (and not only a bet on 1st place). An each way wager is a wager of two parts. The first part of the wager constitutes making a wager on the horse to win the race. The second part of the wager includes making a wager on the horse to finish in the top-4 places. For each amount of the chance, a punter must place an equal wager ($10 and $10 for the example above). The second wager in an each way bet serves as insurance because even though a horse may have a higher chance of winning, more than 30 other jockeys can make it harder to win a professional race. So even if a punter’s prediction to win a race doesn’t come to fruition, they can still win if their horse and jockey have a top finish. In some cases, bookies enable punters to place wagers up to 5th and 6th places. If the horse finishes in the top-6 areas, a punter still stands to profit from the bet. A punter stands to make the most profit if the horse wagered on wins the race by coming first. In this case, they pay for both parts of the wager.
Features Of Each Way Bets
Some of the key features of each way bets include the total number of participants in the race, the winning and losing conditions, and wagers on the outcome of tournaments.
1. Number Of Participants
The number of participants in a race dictates if a bookie offers an each way type of bet to punters. For example, in games with less than five runners, a punter cannot place an each way bet. In a race between 6 or 7 racers, only the first and second place qualify for each way wagers. Only in races with over 15 participants can a punter place a chance on an each way bet until 4th place. As a general rule, a higher number of participants in a race allows punters to make an each way wager and makes it harder to predict the race’s outcome accurately.
2. Win And Loss Conditions
If the horse bet on wins the race, the win conditions for the highest profit a punter can make. A punter wins the first and second part of the wager (Horse to win and finish in the top-4 finish). If a horse finishes in positions 2-4, the punter can expect the pay to be half the wager (the second part of the wager). If the horse finishes in 5th place or higher, the punter can expect no return from either bet.
3. Wagers On Tournaments
Punters can make an each way wager in several types of sports and sporting events from across the globe. While punters can make an each way wager in a specific soccer game, a punter can make an each way wager on the result of a tournament such as the FIFA World Cup or the Champions League. A punter can place a bet for that team/player to win the game or finish in the semi-finals. Teams participating in the semi-finals constitute the top-4 teams or players in that tournament.