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
E/w betting is where the best value lies. However, uncovering value takes more than just picking e/w over outright win bets. You need to “shop the market” to find which bookmaker is offering the best odds and terms for each player.
Since it’s impossible to predict the winner every tournament, smart punters turn to value to drastically increase their odds. Did you know that on 27% of tournaments you can make a profit if you bet on every single player with the correct bookmaker?
Before you get too excited, the returns are only 2-15%. However, it’s a good indication of how much value is within the e/w market.
If you’re looking to leverage the e/w markets, and access the highest value golf betting tips each week, join over 300 hundred GolfForecast members betting with us for only £1.
