What is Each-Way vs Place Betting on Horse Racing? - Comparing Bet Types & Guide
The smell of the churned-up grass, the roar of the crowd, and the thumping of hoofs to the ground; nothing beats the thrill of horse racing. It's a big part of why betting on horse races is so popular - the unpredictability and excitement of the events translates seamlessly to the sportsbook world.
And, as with any type of betting on any other sport, there are different bet types that bettors should know when they're getting involved. In this sports betting guide, we'll cover the horse betting terms each-way and place, explaining how to use both right here on Stake Sportsbook.
What is Each-Way vs Place Betting On Horse Racing?
In horse race betting, you have two main types of bet. First up, you have place betting. This is where you're expecting the horse you choose to “place”, which means that they finish in first or second place. This bet is paid out at the same odds no matter whether they win the race or finish second. However, the number of positions counted as placing can be different depending on the type of race and racing event - the Grand National, for example, offers four places.
You also have an each-way bet, which functions a little like placing two separate wagers on one single horse. The first bet is that you think your chosen horse will win, and the second is that you think the horse will place, meaning that they finish at least second - or fourth in the Grand National. If your horse wins, the potential returns are higher than if they were to simply place.
How Does Each-Way Betting Work?
Each-way bets are effectively two bets. They are made up of the “win” bet - as in a bet on the horse to finish first - and the place bet - the horse to finish first or in one of the other placing positions. The odds for the place bet will be a fraction (½,⅓,¼, for example) of the win odds.
So, for a horse with odds of 10.00, a $10 bet would return $110 ($100 profit and your $10 original stake). However, if the horse was to finish second and the odds for this were half your win odds at 5.00, a $10 bet would return $60 ($50 profit) from the each-way portion. If the horse wins, because it placed and came first, the total return would be $170, meaning $150 in profit.
How Does Place Betting Work?
For place betting, the situation is much simpler. Instead of simply placing a win bet in one of the outright markets, you are staking on the horse finishing in the placing positions. You will be given one set of odds, unlike in each-way betting where you have the win odds and the place odds.
If your horse has odds of 5.00 to place and you stake $10 on that outcome, your bet payout will be $60 ($50 of profit and your $10 bet stake returned) if it finishes the race in one of the placing spots. These kinds of bets are less likely to deliver massive payouts than outright or moneyline winners but are good for races where you expect it to be tightly contested.
How to Place a Horse Racing Bet on Stake
If you want to get started with each way or place bets here at Stake Sportsbook, you can get started right away. All you need to do is register your account, deposit funds in one of several ways, including your local currency, crypto coins like Solana, Tron, and Bitcoin, or through services like Moonpay, Swapped.com, and navigate to the horse racing section before choosing your race and the horse you want to bet on.
Which Bet Type is Better?
The answer to the question of which is the better type is easy - it depends on what you prefer. With an each-way wager, you have the potential to win a significantly higher amount than if you just choose a place bet. However, with the each-way betting system, your stake is also doubled, meaning that you also stand to lose more if the horse doesn't place.
It is the exact same scenario as working out whether live or pre-match betting is right for you, or if you want to drill down into spread or handicap race betting instead of sticking with simpler moneyline or proposition bets. Not everything works for everyone, so you need to make your own decision which is the best based on your expectations.
Tips for Placing Each-Way & Place Bets on Horse Racing
As with any form of gambling, including betting on any of the range of sports available at Stake and online casino games, there's no sure thing in horse racing. A win can't be guaranteed but there are some tips, tricks, and advice that bettors can take on board to ensure a more pleasant gambling experience.
One main one is to study the form and make sure you understand the specifics of the race you're betting on. In big events like the Grand National, placing goes from first to fourth, but most regular races only count second and first as placing. If you're betting each-way or place, you need to know exactly when the bet will be paid out.
Here at Stake, you can keep up on the latest horse racing action. As well as being able to bet on horse racing, including each-way and place bets, you can also watch some of the biggest events on the horse racing calendar right here live. This includes races from all across the globe in Europe, Australasia, the Americas, and Asia. Keep checking back on Stake for up-to-date information on which races you can watch unfold liveand stream the action for free.
Sports Promotions, Stake VIP Club & Responsible Gambling
If you're looking to keep up to date with the latest horse racing news and free betting tips, take a look at our weekly horse betting news blog.
For our regular bettors, there is also a VIP Club, where you can get access to different levels of rewards based on your staking history. These rewards also include a dedicated VIP Host who can assist you with any questions or concerns that you may have about the scheme.
Our players and their wellbeing are the most important thing to us. That's why we're committed to offering comprehensive responsible gaming support, including Stake Smart guides as part of our wider Stake Smart initiative. you can always reach out for help if you need it.
