Have you seen the term EW used to describe a type of bet? Not sure what EW or E/W means or how it works? Then this is the article for you!
EW or E/W (either term is used interchangeably) simply means Each Way or Each-way. Each-way is a bet type, just like an accumulator bet, or a single bet (or ‘win’bet). However, an Each Way bet offers more flexibility to punters than either of those options.
In this post, we will explore exactly what Each-way means in terms of how it affects your bet and stake and the common markets you can use each way betting on.
We’ll also clearly break down what you are backing when you place an each-way bet with a trusted bookmaker (in our case, we’ve used bet365 Sport for our examples).
What is Each Way betting? Simply, it is a bet which allows you to earn a return if your selection does not win, but instead finishes in a ‘place’.
With this bet, you are not only backing your selection to win, but also on a separate market (or ‘line’) which is based on them finishing in an agreed ‘place’. What counts as a ‘place’ is determined by the sporting event you are betting on.
That may sound complicated initially, but it is easier to understand via an example.
It is also worth noting that the terms for this bet are generally referenced from horse racing, where each way betting remains one of the most popular forms of bet. As such, we will use a horse race to exemplify what we mean by an each way bet.
A punter places a £5 each way bet on the horse “Cosmo Renfro” at odds of 10/1 running in the 3.35pm from Punchestown.
We know that an each way bet covers both the option to win the race and the option to place.
So a £5 each way bet would see:
So your total EW bet stake would be £10.
And then if Cosmo Renfro wins the race, both your win and place bet win. So you would receive the £55 from the win part of the bet, plus the £15 from the place part of the bet, for a total return of £70. (£60 profit).
However, if Cosmo Renfro does not win the race but finishes in a paying place (in this race, this is the top four), your win bet would lose, but your place bet would win, so you would receive back the £15 from the place bet (£5 profit).
If Cosmo Renfro does not finish in the top four, then both bets lose.
One of the most common mistakes people make is to assume that a £5 each way bet, costs £5. It doesn’t.
That’s because an each-way bet has to cover two different outcomes. The outright win or finishing in the places (which also includes winning the race).
So a £5 each way bet, would cost £10 as the £5 unit stake is placed on the win outcome and also the place outcome.
However, you can reduce the size of your unit stake to make your bet still cost £5 in total. In this example, you would place a £2.50 each way bet (which would cost £5 in total).
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Outlined below is a very simple step-by-step guide, to help you place your first horse racing each-way bet at bet365 Sport.
Once you have logged in to bet365 Sport, you will be presented with the home page as shown below.
The quickest way to do this is to use the column on the left-hand side of the home page which lists the major markets and the most used markets. Here you can see both the Next Races and Horses options highlighted in Green.
You can see that bet365 has a wide choice of options for races. Remember, you can also find each way bets in their Bet Boost options! The race we want is the 4.35 at Ayr, which is the fifth race in the Ayr section.
In our example below, we’ve selected the 4.35 from Ayr for our chosen race. You can see in the details of the race there is “E/W ⅕ 1-2-3” shown. This is the each way terms of the race. It means that each way place parts of the bet pay out at 1/5th of the odds stated on the first three horses finishing.
In the bet slip, you can also see the each way terms for your race again as well as how much your bet will return in total if your selection wins the race.
As with any bet your aim is for your selection to win. That will generate you the full return (£92) shown on the bet slip. However, if I Wish You does not win, but finishes in the top three, you will earn a return of 1/5 of the stated odds of 6/1, which would be slightly more than an each way return, meaning you would make a very small profit on the bet.
As you will know from the examples above, each way betting is very popular on horse racing, especially on some of the biggest races of the year.
For example, the Grand National is a very popular race where many people may have their only bet of the year as an each way punt on one of the 34 runners in the race!
However, each way bets can also be found in some other sporting markets too at bet365. Examples of this include:
Greyhound betting offers a chance to back a dog running in a race each way.
An option alongside the Anytime goalscorer bet which offers you the chance to back a player to score the first goal in the game at the stated odds, but if he doesn’t score the first goal but scores any other goal in the game, then the place part of the bet will pay out.
Formula 1 offers a rich seam of each way betting opportunities throughout the season. You can bet on an individual driver each way to win the Driver’s Championship and on a team to win the Constructor’s Championship.
Furthermore, there is a an each way bet option for every Formula 1 race of the season, All of these each way markets in F1 pay out on the top three in the race, driver’s championship and constructor’s championship.
You can bet on the winner of these major cycling races using each way bets which pay out on the top three finishers of each race.
Most Golf tournaments offer a range of each way betting options, especially at bet365 Sport where you can select your each-way terms for your bet by selecting the number of places paid with the fraction of the odds paid out for a place adjusted accordingly.
Hopefully, you now have a clear understanding of what an each way bet is, how it works and why it can be such a useful bet for novice and expert punters alike!
A. An each way bet costs 2x your unit stake. So if you wanted to place a £5 each way bet, that bet would cost £10.
A. Each Way Terms describe the rules under which your place part of the bet will pay out. They tell you the fraction of the win odds your place bet will be paid at (⅓, ¼ or ⅕ usually) and how many places will be paid out at that fraction of the win price (usually 1, 2 or 3 places, but occasionally this can be more).
A. If your selection wins then both parts of your each way bet pay out. That means the half of your stake placed on the Win bet gets paid out at the winning odds and the Place part of the bet pays out at the stated fraction of the winning odds.
A. Enhanced Each Way bets offer customers the chance to select how many places they want their each way bet to pay out at. They are usually available on big horse racing events, such as the Grand National, as well as other sports events with many competitors (Golf is a good example).
The more places that pay out, then the smaller the fraction of the stated odds the place part of the bet is paid out.
For example, a customer may be able to select payouts up to the top 6 finishers in golf at ⅕ of the stated odds or the top 4 finishers in the tournament at ⅓ of the stated odds.
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