A Complete Guide To Each Way Betting Strategies

Quick answer: there are a number of strategies you can use to take advantage of each way bets, with varying levels of risk. Matched bettors might prefer to use extra place offers, while more experienced bettors can use Value Betting techniques on both horse racing and golf each way bets.

There’s a vast array of markets available to sports bettors - so many that it can be difficult for a newcomer to know where to begin. One common favourite is the each way bet, which is particularly popular in horse racing but can also be found in other sports, including golf and greyhound racing.

But what is it that makes the each way bet a perennial favourite? Is there any real advantage to the bettor? And what strategies can you use to optimise your each way betting?

In this article we’ll take you through exactly how an each way bet works and the best each way betting strategies, as well as the advantages and disadvantages of each way bets.

What Is Each Way Betting?

An each way bet is effectively two bets in one: one bet on your selection to win, and a second on your selection to hit a paid place. If your selection wins, both parts of your bet are paid out; if your selection hits a paid place, only the place part pays out.

The place part of your paid is paid out at a certain fraction of the odds listed; usually either ¼ or ⅕ for horse racing. If your selection wins, the win part of your bet is paid out at the standard odds, and the place part is paid out at that fraction of the odds. If your selection only hits a paid place, you get no return from the win part of your bet, but you’re paid out for the place part of your bet at that predetermined fraction of the odds.

Because you’re placing two bets at the same time, your stake is doubled when you choose the each way (E/W) bet option - so if you enter a stake of £10, your total bet will be £20, as illustrated in the example betslip below.

The most common sport for each way betting is horse racing, but greyhound racing, darts, golf, football, and a fair few other sports all feature each way markets that bettors can take advantage of.

Each way betting is a popular choice for many bettors as it increases the likelihood of getting some payout from your bet. In the above example, the odds on Heyzoom imply only a 20% chance of actually winning the race (and in reality its chances will be even less than that), but the likelihood of it making one of the three paid places is much higher.

An example of an each way bet

To illustrate how an each way bet might work in practice, we’ll imagine we’re placing a straightforward each way bet on a horse race, as this is the most common sport for each way betting.

Having browsed the day’s racing, we decide we want to place an each way bet on Be An Angel at odds of 7 in the below race:

It’s not the favourite, but it’s got a chance of winning - and even if it doesn’t, we can still make some money if it hits one of the top 3 places.

We go ahead and place a £10 each way bet accordingly, staking £20 in total. So long as our runner places or wins, we’ll make a profit - but if they fail to hit one of the top three places, we’ll have lost our full £20 stake.

What Are The Best Each Way Betting Strategies?

Each way bets are a popular choice for recreational punters who simply want a second chance at a winning bet if their selection fails to win. However, there are also more sophisticated strategies you can use to maximise potential profits from this kind of bet, with varying levels of risk depending on your preferences.

Extra Place Offers

In horse racing, extra place offers are an extremely useful way to take advantage of each way bets. An extra place offer means that a bookmaker is paying out on more places than normal - so for example, they might be paying three places instead of two.

You’ll usually find multiple extra place races every single day with bookies that run this offer, making for plentiful opportunities for the canny bettor, and during major festivals (e.g. Cheltenham) you’ll often see even more generous extra place offers than usual, e.g. a bookie paying 7 places instead of 4.

Data Insight

The British Horseracing Authority reported that the average field size in 2025 was 8.90 runners for Flat racing and 7.84 runners over Jumps. These figures provide useful context when assessing how competitive a race may be and evaluating the number of places offered in each-way markets.

- British Horseracing Authority

It’s possible to take advantage of these offers at very low risk using Matched Betting techniques by placing an E/W bet on a selection and then laying both the win part of the bet and the place part - but your place lay bet is on the original number of places.

If your horse wins, loses, or hits one of the standard places then you make a small qualifying loss, but if it hits an extra place you stand to win both the place part of your back bet and both lay bets, resulting in a significant profit.

There is an element of risk to this strategy, as in any individual race it’s fairly unlikely that your runner will hit the extra place, but over time this strategy has proved highly successful for Outplayed members.

Each Way No Lay

For more advanced bettors, Each Way No Lay (often shortened to EWNL) can be a hugely successful Value Betting strategy. However, it’s important to note that this is a strategy that involves risk: you aren’t laying your bets, which means your full stake is at risk each time you bet. It’s normal to experience downswings when carrying out this strategy, which means that both your nerves and your bankroll need to be able to tolerate less profitable periods.

This strategy involves simply placing unmatched each way bets, as we did in the example above. The secret to making this profitable is in finding selections that hold positive expected value - meaning that the odds are disproportionately high compared to the runner’s chances. With each way bets, the value is often found in the place part of the bet due to the place fraction being fixed, meaning that the resulting place odds don’t necessarily bear much resemblance to the actual odds of a runner hitting a paid place.

The difficulty in this strategy lies in identifying which selections actually hold positive expected value, as this relies on knowing the true probability of a win for each runner. Some bettors invest a lot of time and energy into research - but a much easier option is to use Outplayed’s Extra Place Master in No Lay mode, which identifies +EV selections for you, making it a doddle to execute the strategy.

The Extra Place Master also features a Part Lay mode, which allows you to mitigate some of the risk of this strategy by laying only the win part of your bet and leaving the place bet unlaid. This allows you to extract more value than by fully matching your bets, while limiting the risk you’re exposed to.

Expert Insight

‘A common mistake with each way betting is judging a selection by its chance of winning alone. A horse can be unlikely to win but still offer poor place value if the market has already accounted for its consistency. The key is to assess whether the place odds compensate you fairly for the actual probability of finishing in a paid position.’

Football Each Way Betting

It’s comparatively unusual to place an each way bet on football, as standard match winner markets don’t feature places. However, if you’re betting on the eventual winner of a tournament it’s possible to place an each way bet on that market.

For example, the following each way market with two paid places was available at the time of writing on the UEFA Europa League:

If you place an each way bet on this market, the place is paid at ½ the listed odds, and there are just two paid places.

Because football is such an uncommon sport for each way betting, there aren’t really any dedicated tools out there for bettors, which means that you’ll be on your own when it comes to finding good opportunities and assessing their value. However, if you’re an experienced football bettor with a strong bankroll, you may consider football each way betting to be worth your time.

Golf Each Way Betting

Golf tournaments usually have a vast field, and as a result it’s common to bet on a particular player to hit a certain place rather than just to win.

Unlike horse racing, though, you’ll usually see a range of different markets depending on the number of places, as you see in the example below.

The available odds depend on the number of paid places in your chosen market, reflecting the likelihood of your selection hitting one of those places. For example, if you place an E/W bet on Rory McIlroy with 12 paid places, the main odds are 7.5, with the place fraction at ⅕. However, if you go for the market with 5 paid places, you can bet at odds of 9 with a place fraction of ¼, and if you choose to bet E/W with only 3 paid places, the odds are 13 (and we’re back to a place fraction of ⅕).

The greater range of place markets makes it rather more complicated to find each way bets that hold positive expected value for golf, but they’re certainly out there if you have the knowledge and patience to go looking. We do, however, recommend that only advanced value bettors with a strong bankroll attempt this strategy due to its complexity.

Alternatively, Outplayed Elite members can access the Golf Master, which does all the hard work of locating value bets on golf for you. It works very similarly to the Extra Place Master in No Lay mode, recommending selections and markets that hold positive expected value.

Data Insight

The 2025 Open Championship featured a starting field of 156 players. With so many competitors, golf each-way bettors need to assess not only a player's chances of winning but also how the available paid-place terms and odds compare across markets.

- Golf Monthly

What Are The Advantages And Disadvantages Of Each Way Betting?

Tips And Tricks For Successful Each Way Betting

• Look for extra place races. Whether you’re planning to use a Matched Betting or Each Way No Lay strategy, extra place offers can add significant value.

• Seek out high value selections. You might be tempted to plump for the selection with the shortest odds, but that isn’t necessarily the wisest idea. At low odds, your returns are correspondingly low, and you may make a loss even if your choice hits a paid place. Instead, look for selections with positive expected value where possible.

• Use available tools. Software like Outplayed’s Extra Place Master or Golf Master can transform your each way betting strategy by tracking down the highest value selections on your behalf.

• Take a long term attitude. Whether you’re adopting a low risk Matched Betting strategy or a higher risk Value Betting one, your success will be shown over time, rather than on just a few bets.

Expert Insight

‘Even a well-researched each way strategy can produce a frustrating run of results, particularly when your selections repeatedly finish just outside the paid places. Keep a record of your bets, including the odds, place terms and reasoning behind each selection. That makes it easier to tell the difference between a sound strategy experiencing variance and a pattern of poor decisions.’

• Never bet more than you can afford to lose. If you’re Value Betting in particular, it’s important to make sure that you aren’t betting more than is appropriate for your bankroll. If you’re starting with a smaller bankroll, it’s wise to make your stakes smaller as well until you’ve built up some more funds.

• Don’t get carried away. Particularly when using the EWNL strategy, some bettors can get swept away with excitement, especially if they have a couple of big wins. But it’s important to remember that you should only place bets that actually represent value; otherwise, you’re just gambling.

Summary

Each way bets are very popular with regular punters, but they can be highly useful to matched bettors and value bettors as well. Whether you prefer to stick to low-risk extra place offers, or take on a higher-risk strategy like Each Way No Lay or Golf each way betting, each way bets can play a huge role in maximising your profits.

And if you’d like to find out more about how Matched Betting works, check out the Outplayed Beginner’s Guide to Matched Betting for all the information you need to get started.

Or if you’re ready to go right away, sign up for our free trial to gain immediate access to 40+ sign up offers worth over £800 in potential profits!

FAQs

1. Can you only bet each way on horse racing?

No, there are each way markets on more sports than you might think! Sports including golf, football and darts all feature each way markets, and you’re likely to find each way options on most outright markets on tournaments too.

2. Can I lose money each way betting?

If you simply place a basic each way bet without laying it, then yes there’s a reasonable chance of losing money. If you use Matched Betting techniques, though, you shouldn’t lose more than your expected qualifying loss, so long as you don’t make any mistakes.

3. Is each way betting beginner-friendly?

A basic each way bet is very easy to place, so if you simply want to place a recreational bet then yes, certainly. If you’re Matched Betting on Extra Place offers, then it’s a little more complicated, and a strategy to progress to once you’ve mastered Bet & Get offers. And if you’re just starting to get into Value Betting, Each Way No Lay bets can be a great place to start, as with the help of the Extra Place Master they’re incredibly easy to place and track.

4. Will each way betting get my account restricted?

It’s pretty unlikely; each way bets are very popular with regular punters, so placing this type of bet shouldn’t attract undue suspicion. It’s generally wise to focus on UK and Irish races, though, as more obscure races may attract more scrutiny.

5. How do I work out my stakes and profits?

Outplayed’s handy Each Way Bet Calculator takes care of that for you, letting you know exactly how much you stand to make depending on how your selection does.