Horse race betting is one of the more popular types of sports betting in India since it is the only type of sports betting considered to be legal in the country. For novices, the terms might be a bit difficult to understand. What does each way mean in horse race betting?
Let us explain that to you in some simple and easy-to-understand terms.
What does each way mean in horse race betting?
An each-way bet, often abbreviated as EW or E/W bet is a type of bet in which your stake is equally split into two different bets, a win bet and a place bet. The win part of the wager is placed on a horse to win the race, while the other half is bet on the same horse to finish on a pre-determined place, usually the second or the third place, as determined by the bookie. Each way bet is usually seen as insurance if you are not confident enough that your horse will win. Let’s have a look at a simple example to understand the bet a bit better.
What does each way mean in horse race betting? If you place an each-way bet of ₹1000 on horse A, the stake is equally divided into two halves. ₹500 is bet on the horse to win, and the other ₹500 is wagered on the horse to place, say on the second place. If the horse goes on to win, you will win the entire bet, and the returns are calculated based on the ₹1000 bet. However, if the horse does not win and finishes second, you will lose the `win´ part of the bet, but will still be paid the winnings in the `place´ half. So rather than losing money, you will end up with a small profit.
The odds on the `place´ half of the wager are usually denoted by a fraction of the returns offered on the `win´ half of the bet.