Now that we are comfortable with exploiting New Customer and Reload Offers, is time to move on more advanced tactics and strategies. Everyday matched bettor will tell you that a good way to add some profit to their monthly income is the Each Way Betting System, especially on horse racing using extra places bets. One of the reasons, why we are choosing to use this betting system is because is these types of bets are relatively simple to understand and also, you can take advantage of your gubbed accounts.
NOTE: This is very much an advanced strategy, so we would only recommend you get involved if you’re an experienced matched bettor who is comfortable placing lay bets on considerable sums and you understand the horse racing principles, rules and terminology.
How Each Way Betting works?
An each way bet has two parts: First half of your total stake is placed on the horse to win (“Win” bet) and the other half is placed on the same horse to finish in the top few places (“Place” bet). The win part of an each way bet is paid out at the normal odds. The place part of an each way bet is paid out at a fraction of the normal odds.
Now, let’s try using an example to explain in more details how exactly this system works. We have the following term: “Each Way 1/5 1-2-3-4”. These each way terms mean that if our horse finishes 1st, 2nd, 3rd or 4th, the place part of our each way bet will have won and we will be paid out at a fifth of the normal odds.
Using an real life example, let’s assume we have bet £100 each way on a horse at odds of 10/1. (Decimal odds: 11.0) That means we are betting a total of £200. We are betting £100 on the horse to win at odds of 10/1 (11.0) and £100 on the horse to place in the top 5 at odds of 2/1 (3.0).
To calculate the place odds, we are going to divide the fractional win odds of 10/1 by 5, which gives us 2/1. Now maybe this is a little bit confusing, but don’t worry though, the each way calculator does all of this for us. So, you don’t need to do all of these math, important is to understand the principal behind it. For the above example, we have the following outcomes:
|Outcome||Win returns||Place returns||Total stake||Profit/Loss|
|Horse wins||+ £1100||+ £300||£200||+ £1200|
|Horse places 2nd, 3rd or 4th||£0.00||+ £300||£200||+ £100|
|Horse finishes outside top 4||£0.00||£0.00||£200||– £200|
Now that we covered the basic principle, let’s talk about one way to use the Each Way System, Each Way Arbing. In the next post we are going to explain other ways of using Each Way Systems. To be first to get this useful knowledge, please subscribe to our newsletter below.
How we can use Each Way Arbing?
Now that we explained how Each Way Betting System works, let’s see what Each Way Arbing means. So, each way arbing is the process of placing each way bets and then laying the ‘Win’ and ‘Place’ parts individually at the betting exchange. The purpose is to find selections where the ‘Place’ lay odds are much lower than the ‘Place’ back odds to the extent that it gives us an overall guaranteed profit.
There are two ways to look at each way arbs. The first option is to search for them manually, scanning the markets and looking for odds that may represent a profitable opportunity and using a each way calculator to see if there is a profit to be had. The second option is to use odds-finding software, such as Eachway Matcher tool from Oddsmonkey. Below you can see an example.
The software scans all horse racing markets in an instant and highlights the selections that represent an each way arb. If you find any profitable ones, all you need to do then is hit the Open Calculator button to get a breakdown of each bet we need to place.
Eachway Matcher tool is accesible under a paid subscription fee £17.99. However, OddsMonkey suggest that each way arbing can increase our monthly profits by £250+. If you want to give it a shot, please subscribe to their service here.
What you should know before using EW
You’ll notice in the above screenshot that there is a ‘Runners’ column which denotes the number of current runners in each race. If the number of runners is on the threshold of the each way terms, the box containing the number will be red. In other words, bookmakers offer standard each way terms based on the number of runners. Please see below a breakdown of these conditions.
|Handicaps of more than 15 runners||4||1/4 (1.25)|
|Handicaps of 12-15 runners||3||1/4 (1.25)|
|All other races of more than 7 runners||3||1/5 (1.2)|
|All races of 5-7 runners||2||1/4 (1.25)|
|All races of less than 5 runners||Win only||–|
So, for example, the races listed in the Eachway Matcher above, provided 8 or more horses run, the each way terms will be 1/5 odds for the first 3 places. If non-runners are declared and the field is reduced to 7 runners, the each way terms will be 1/4 odds for the first 2 places. However, the exchange terms stay the same, meaning that if our selection were to finish in 3rd place, we would lose both of our ‘Place’ bets, which is something you would want to avoid.
Therefore, we would suggest to get closer to the race start because are less chances there for any further non-runners and place your bets. If the each way terms do change, you can always back the same ‘Place’ market to effectively cancel out your ‘Place’ lay bet. So, don’t forget after you cancel out your “changed” lay bet to lay the correct ‘Place’ bet at your preferred exchange market.
How to profit from Each Way Arbing
If you choose the second option, using OddsMonkey’s Eachway Matcher tool, you can simply click Open Calculator to the right of each selection. You will see something similar to next screenshot. You are given a step by step instruction on how to take advantage of this Eachway Bet. The suggested back stake is the maximum we can bet, with sufficient liquidity at the betting exchange to match our bets.
If you choose the first option, doing things manually, I’ll show you how to use an Each Way Calculator in the following example. Even if you’re using the Eachway Matcher tool, we think it helps to see a breakdown of your potential profit. So, for example, you decide to place a £70.00 each way bet on De Name Escapes Me at odds of 7.00 (6/1). The each way terms are 1/5 odds, 3 places, which means our back odds will be 2.20. Now, let’s see what are our ‘Win’ and ‘Place’ lay stakes we need to use.
As you can see, the calculator tells us that we need to lay £85.22 on De Name Escapes Me ‘To Win’ and then lay £75.86 on De Name Escapes Me ‘To Place’.
On the bottom of calculator will tell you the outcomes of this Each Way Bet. It’s worth noting that the above example was based on an each way stake of £70.00. If you are comfortable to increase the stake you can make a bigger profit, but we at Everyday Betting would recommend to stake an amount you are comfortable with.
As a summary, each way systems can be used on your gubbed accounts and you should stick with your comfortable stakes. Also, we would strongly recommend this type of bet to more experienced matched bettors.