It is important you know what an each way bet is in order to make money from sports betting.

Each way betting offers a bit more security compared to normal back bets.

In this post, you will learn what an each way bet is, and how they provide a payout even if your selection does not win the event.

What Is An Each Way Bet?

An each way bet is a type of wager that is commonly placed on horse racing or other sporting events.

It is essentially two bets in one.

Half the total stake is being placed on the selection to win.

The other half being placed on the selection to place (usually in the top three).

How Do Each Way Bets Work?

Here’s how an each way bet works:

1. The total stake for the bet is split in half.

One half being used for the win part of the bet and the other half being used for the place part of the bet.

2. If the selection wins the event, the bettor will receive a payout for both the win and the place portions of the bet.

The win payout is calculated based on the odds of the selection winning.

While the place payout is calculated based on a predetermined place dividend (for example, a place dividend of 1/4 means that the bettor will receive a quarter of the win odds for a place bet).

3. If the selection does not win the event but finishes in the top three (or other predetermined number of places).

The bettor will receive a payout for the place portion of the bet based on the place dividend.

If the selection does not win or place, the bet is lost.

Why Do People Use Each Way Bets?

These bets are a good option for bettors who want to increase their chances of winning.

They give the bettor the chance to win if the selection finishes in the predetermined number of places.

However, it’s important to note that the odds for each way bets are generally lower than for straight win bets.

This is because the bettor is essentially placing two bets for the price of one.

The Best Way To Make Money From Each Way Bets

Many bookmakers offer extra places to compete with each other.

They do this in an attempt to attract more punters to place bets with them.

As a result, you can use a Matched Betting strategy to take advantage of this competition between bookies.

You can take advantage of the extra place offers because the number of paid places by the bookmaker is greater than the betting exchange place market.