Win, Place & Each Way Bets Explained

Let’s talk sports bets for a moment. If you’re serious about punting, then this blog post is going to help you formulate your betting options favorably. Top of the list for bets is a win bet. This is the punting option that only pays out if your betting selections win the event in question. The betting stake may be placed on 2 or more selections in a multiple bet and the good news is that they all provide a return on the investment.

What about place bets? How do they work and what do they offer?

Let’s say that you’re punting on the outcome of a horse racing event. In this race there are multiple positions that you feel will come in. If you feel that Charlie’s Treasure (a fine steed) will not win a race, but will ultimately fare well, then a place bet is exactly what you should be punting on. Typically a place bet is made when you feel the horse will finish in 2^nd, 3^rd of 4^th position in a race. This is attractive to punters who are backing big money outside prospects.

Depending on the number of horses racing, place bets may/may not be an attractive proposition. With less than 4 runners there are no place bets. With 5, 6 or 7 runners you could be backing a horse to finish in the first two places (the greater the number of horses competing, the better the odds). With 8 -15 runners a place bet would be made to back a horse to finish in the top 3 positions. With more than 16 horses running (handicaps) a place bet covers the top 4 slots.

Let’s turn our attention to each-way bets

When you make an each way bet, you’re effectively making a bet on 2 separate betting markets. These include the outright winner and the place bet. The mathematics of the bet is such that 50% of the amount wagered is placed on the selection winning the event and the other 50% on the selection placing in the event. When you punt on this type of event you’ll notice a small box on your betting slip. When you mark this box the stake bet is doubled on the outright selection. Note: half the total stake is on the selection placing in the market. The part of the bet placed on the selection doesn’t pay the selection’s price as reflected in the outright betting market. Rather it’s fractional and depends on the amount of competitors in the race.

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