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Sports betting can be a lucrative way of making big wins. The key to winning a bet is being knowledgeable enough about the game to predict the outcome. In particular, football betting is one of the most popular forms of sports gambling. A reader may ask why placing football bets is so popular. The reason for this is that it is a universal sport well known around the world. Because a large population of the world know the rules and players it makes predicting the possible outcome.
What is an each way bet?
Each way bets give gamblers a small amount of wriggle room when it comes to the outcome that will give a payout. There are two parts to an each way bet: "place" and "win". There is an equal stake for every part. For example, if you were to place a £1 each way bet for a football match then £1 will need to be placed on both the "place" and "win". This will mean the player will have to pay out a £2 total stake.
The "win" section of the bet is who/what the gambler predicts to win the match. Whereas the "place" side of the bet represents which position they will be placed at. This will either be first or a number place such as second, third, fourth etc. If an each way bet is placed then the amount of money paid out to a winning gambler will depend on the place their betting winner has come. If they have placed first then the gambler will receive the highest possible payout. This payout will steadily decrease the further down their winner has been placed.
Payment for a winning each way bet
If the player's selection does win then their payout will depend on both the "win" and "place" section of their bet. If their selection does not win but still places then the player will only receive a fraction of their potential stake. For example, let us imagine that a gambler places an each way bet that England will win the world cup. If England win the competition, then the gambler will win the maximum potential payout. However, if England only place second then the gambler will lose the payout for the "win" part of their bet. They will only be paid out on the placing of their selection.
When the gambler places their bet they will be able to see the different payout odds for the "place" of their selection. This will be only a fraction of the "win" odds. However, this does not mean that a gambler will not profit if their selection does not win and only comes in second or third. It just means that their payout will be significantly lower. For example, if the gambler bets £1 that England will win the World Cup each way and England has the odds of 16/1 then the possible returns break down as:
The £1 place bet will be divided by the fraction for each possible place, this is usually 1/4 or 1/5.
If England place 1st then the gambler will receive £16
If England place 2nd then the gambler will receive £5
If England place 3rd then the gambler will receive £4.20
This is just one example and possible returns vary depending on where the bet is placed but it gives you an idea of each way returns.
Fancy testing your betting prowess? At Fifa55 you can place an each way bet on a range of football games.
