Each Way Golf Betting Explained
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What is an each-way bet?
An each-way bet can be thought of as two sepeate bets: a win bet, and a place bet.
The place bet will be at reduced odds for the player to finish in the top x.
Example:
A £10 each-way bet on a 20/1 selection and paying 1⁄5 the odds a place for the top 7 would cost £20.- Returns on the win part of the bet would be £10 × (20/1) + stake = £210
- Returns on the place part of the bet would be £10 × (20/5) + stake = £50
- Total returns would be £210 + £50 = £260 if the golfer wins, but just £50 if the golfer only finished second to seventh.
What about ties?
Example 1:
What happens if there are three players tied for 7th on an each way bet paying 7 places at 1/5th odds?
| Player | Pos | Score |
|---|---|---|
| Tiger Woods | 1 | -21 |
| Rory McIlroy | 2 | -19 |
| Jordan Speith | 3 | -18 |
| Phil Mickleson | 4 | -17 |
| Paul Casey | T5 | -16 |
| Justin Rose | T5 | -16 |
| Dustin Johnson | T7 | -15 |
| Brooks Koepka | T7 | -15 |
| Jon Rahm | T7 | -15 |
A £10 each-way bet on Brooks Koepka at 20/1 would cost £20.
Brooks finished T7 with two other players, because three players are sharing the final position the stake is divided by three.
- Returns on the win part of the bet = £0
-
Returns on the place part of the bet would be:
- reduced stake * reduced odds + reduced stake
- = (£10/3) × (20/5) + (£10/3)
- = £3.33 * 4 + £3.33
- = £16.67
A loss of £3.33
Example 2:
What happens if there are three players tied for 6th on an each way bet paying 7 places at 1/5th odds?
| Player | Pos | Score |
|---|---|---|
| Tiger Woods | 1 | -21 |
| Rory McIlroy | 2 | -19 |
| Jordan Speith | 3 | -18 |
| Phil Mickleson | 4 | -17 |
| Paul Casey | 5 | -16 |
| Justin Rose | T6 | -15 |
| Dustin Johnson | T6 | -15 |
| Brooks Koepka | T6 | -15 |
A £10 each-way bet on Brooks Koepka at 20/1 would cost £20.
Brooks finished T6 with two other players. This time there are three players sharing two places (6th and 7th) the stake is therefore reduced by 2/3 (num places/num tied).
- Returns on the win part of the bet = £0
-
Returns on the place part of the bet would be:
- reduced stake * reduced odds + reduced stake
- = (£10 * 2/3) × (20/5) + (£10 * 2/3)
- = £6.67 * 4 * £6.67
- = £33.33
A profit of £13.33
Should I Bet Eachway?
Almost always.
An eachway bet with 20/1 odds and 1/5th odds paying 8 places has a value roughly equivalent to a single win-only bet of odds 26/1! (depending on field size).
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