Each Way Gambling - Does It Work?
While there are many different strategies to follow when gambling, many of the more successful gamblers will look at value in the each way market - the market that traditional gives you a quarter of the wining return, if your bet comes in second, third or even fourth in some large fields.
This is the market which allows you to have a look at some of the outsiders, who while maybe not ready for a win, may well have place attractions. Effectively it is two bets in one, although a £5 each way bet wil cost you £10 in stake money - £5 on the win and £5 on the place.
The main market for place betting is the horse racing industry, where fields can vary from just three or four horses, to over forty in races such as the Grand National. When you consider that the National favourites may go off at anything up to 8/1, with some outsiders priced at for example 100/1 there may be more value in a place bet. If your 100/1 gamble were to come in the first four, you would receive a payout of 25/1, i.e. a quarter of the winning odds - not bad when you consider that the favourite may have been priced at 8/1.
Sound easy?
Unfortunately, in reality it may not be quite that easy with horses priced at 100/1 for a reason. However, each way betting can come in useful where you believe that a well priced horse has a chance of winning, but you are fairly certain they will at least get a place. Many gamblers will use this method as a way to at least protect their stakes, in the event that their horse is placed but does not win.
If your each way bet was to win the race, there is a double whammy as you will receive the traditional winning payout as well as a quarter of the odds for a place. Each way betting does have some great attractions, but to get the best out of it you need to do your homework!