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Hey guys, I’m new to betting and was just wondering, are each way bets really worth it? I’ve been winning on each way bets recently but I’ve not even been making my money back…
You’ll get differing answers to that one Jeffery.
Here’s how I see it:
Most of my betting is win only. In most races it’s mathematically better to back more than one horse to win, rather than just one horse each way.When you get 1/4 the odds for finishing in the first 4 (quarter of the field 4 ‘/, 16 = 0.25 = a quarter) in a 16 runner handicap. Yet get the same 1/4 odds first 4 in a field of double the size (eighth of the field, 4 ‘/, 32 = 0.125 = an eighth) – it’s obvious the 16 runner handicap gives better value each way.
I’d say it’s best betting each way in 5, 8, 9, 16 or 17 runner handicaps. And/or when there is a shortish priced favourite to back against.
Obviously you neeed a 5/1 shot to get the whole of your stake back at 1/5th odds a place; 4/1 @ 1/4odds. Sometimes you might be able to see a 4/1 shot that you just can’t see finishing out of the frame. Which means virtually a free win bet at 1/4 odds.
Sometimes when there is a short priced favourite to back against, it may (imo) be worth taking each way at as low as 5/2. Getting back 81.25% of your stake if placed (at 1/4 odds). Not losing much (when there’s a good probability of winning) is all part of being a successful punter.
Value Is EverythingThat’s a very interesting way to look at it Gingertipster. I never even considered backing multiple horses.
Just remember when backing more than one horse to add the percentages up.
ie By backing two 3/1 shots you’re actually taking even money one of them will win.
1 point on both horses mean 2 points over all stake.
At 3/1, 1 x 3 = 3 points won plus 1 point stake back for a return of 4 points on your over all 2 points stake. 2 points profit on the race.A 2 point stake on one Evens chance wins 2 x 1 = 2 plus your 2 point stake back returning 4 points. 2 points profit on the race.
If you fancy one more than the other, you can back one for a main bet and save on the other. Getting back the money you’d lose if your main bet lost.
With the two 3/1 shots and a 2 point over all stake:
1.5 points @ 3/1 on one and 0.5 points @ 3/1 on the other.
Making a profit of 4 points on the race if your main bet wins (1.5 X 3 = 4.5 – 0.5 of the other bet = 4)…. and breaking even if the saver wins (0.5 X 3 = 1.5 – 1.5 of the main bet = 0).Value Is EverythingI’m a much simpler man than Ginge………..
The way I look at it is this.
A fifth odds to half your stake is effectively a tenth odds to place
10/1 is therefore Evens to place, anything under 10/1 is effectively odds on to place
As I wouldn’t back anything at odds on, I wont back anything at 10/1 or under EW
using similar reasoning for quarter-odds races, that’s 8/1 in those races.
If you think the horse is going to win then put all the money on the win bet
I’m a much simpler man than Ginge………..
The way I look at it is this.
A fifth odds to half your stake is effectively a tenth odds to place
10/1 is therefore Evens to place, anything under 10/1 is effectively odds on to place
As I wouldn’t back anything at odds on, I wont back anything at 10/1 or under EW
using similar reasoning for quarter-odds races, that’s 8/1 in those races.
If you think the horse is going to win then put all the money on the win bet
SA,
Does that mean you would have to believe a horse had a better than 50% (fair price Evens) chance of placing for you to back it at 8/1 (1/4 odds) each way? In reality that would mean I would have about 1 each way bet a year!Value Is EverythingYes, I guess so…………though in practise I rarely do EW and when I do it tends to be 25/1 and above that i think might sneak into a place.
If i fancy something at 8/1 or 10/1 I’d most likely just back it to win
But in theory I could back a 10/1 shot EW if I thought it was nailed on to place…….say if you had a big odds on favourite who i thought was way too short
I don’t do betfair so don’t get involved in place only markets…….generally speaking I’m looking for winners not horses who might place.
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I see Ginner T’s been giving the maths lessons out again! pmsl.
Jeffery said
"I’m new to betting".
Doesn’t someone new to betting deserve to have something explained?
Value Is EverythingThe obvious thing to do is to compare the place odds on an exchange or the tote with the place odds offered by bookmakers on the each way portion. Usually the bookmaker place terms are poor but occasionally they are good, in the circumstances that GT outlines. As a rule of thumb though if the each way terms are 1/5 odds they are not worth it.
The obvious thing to do is to compare the place odds on an exchange or the tote with the place odds offered by bookmakers on the each way portion. Usually the bookmaker place terms are poor but occasionally they are good, in the circumstances that GT outlines. As a rule of thumb though if the each way terms are 1/5 odds they are not worth it.
I haven’t done any in depth research but I think that generaly the bookmakers place odds are better than those on the tote or betfair. I think it may have been in Nevisons book he showed this.
KENH – I suggest you do some research and you will find that the bookmakers place terms are
usually
not very good. That does not mean they are
always
bad. As most punters know, 16-18 runner handicaps and races with odds on favourites sometimes throw up each way bargains. But these are definitely in the minority and bookmakers usually restrict such bets very heavily.
Hi Jeffrey
I’m new to this forum but not to betting.
I agree with kasparov that generally bookmakers’ each way odds are not good value (though occasionally they are as has been mentioned).
I’ve often thought of each way betting as an insurance policy against the psychological damage of long losing runs. Like all insurance though you pay a premium for it.
As I’ve become more experienced, and especially as I’ve gained confidence (and patience) by backing longer priced winners win only, I’ve found that I hardly back each way any more.
It can also depend on your approach to generating selections though. Some punters lay great store by first selecting the best races to bet in by number of runners and each way betting shape, whereas others might be convinced a particular horse was a good bet irrespective of these factors.
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