Each-Way (E/W) Definition & Examples

When looking at this bet type in your bet slip, or anywhere else at a sportsbook, there are three key elements to the each-way.

1. The number of places (4 Places in this case), which is what the golfer has to finish to cash the each-way portion of the bet.
2. The fraction (like 1/5), which determines what the payout is. If the odds for the player to win are 100-1 like the screenshot above, the each-way pays 1/5th of 100-1, which is 20-1.
3. The bet amount will split up into two bets, and will also show the total you’re wagering.

It’s a good idea to place bets at multiple sportsbooks– this article explains why. 

Examples of Each-Way Bets in Golf

So in this example of Robert MacIntyre at the Australian Open above, we have a $20 bet at 100-1, and then another $20 bet on MacIntyre to finish top 4 at 20-1.

• If he finishes in the top 4 but doesn’t win the tournament, your $20 bet will get paid 1/5 of the 100-1 odds.
• If he wins the tournament, you’ll win $2,000 ($20 bet at 100-1) and your each-way bet, which pays $400.

At an Online Sportsbook: Each-Way Bets at bet365

There is another view of each-way bets at bet365. This gives you more each-way options, as the required finishing position and the payouts will be different, depending on which one you choose.

In this example, betting Matti Schmid each-way will give you one bet on him at +1000 to win, and another at +250 to finish top 4 (because it’s 1/4 the payout on positions 1-4).

You may be wondering why the first two columns pay the same, despite one option paying positions 1-4 and the other 1-6. The odds will be suppressed on the second column, so you’re getting a reduced payout.

How Are Each-Way Odds Calculated?

Each-way bets are adjusted algorithmically based on a number of factors, primarily field size and probability to win.

Before most golf tournaments with 150+ golfers, you’ll get 1/4 of the odds for finishing top 5. But if you’re betting a 20-man Formula 1 race, the book will only pay out spots Top 2 at 1/3 of the odds.

The same idea applies to a golf tournament that’s already underway. If Jon Rahm has a three-shot lead over second place and a seven-shot lead over sixth place entering Sunday, he’s a near-lock to finish top 5, so the book isn’t going to let you bet him to place 1-5 at a quarter of the odds like it would have before the tournament.

What About Ties?

Dead-heat rules do apply to each-way bets. And you can’t bet golf without knowing about those rules. At most sportsbooks, your bet will be chopped if a player ties for the final spot on a finishing position bet.

If you bet Dylan Frittelli each-way at the 2021 Masters, you’d have a ticket on him to win at 200-1 and a top 5 bet at 40-1. But the each-way portion of your bet would have only paid out 20-1 since he tied for fifth with Rory McIlroy.

(Unless you bet it at BetMGM, which pays out all ties in full), but they don’t offer each-way betting).

Should I Bet Each-Way?

It depends on the event, your risk tolerance, and more. In large-field events with as much randomness as golf, where it’s tough to price everyone accurately, it can be a fun betting option. It’s also an easy way to get some exposure on longshots, particularly in a market like first round leaders, without them needing to actually win.

If your book doesn’t offer each-way, you can bet half your stake on the golfer winning and half on a top 5 to simulate an each-way.

When you’re done brushing up on each-way bets, take a look at 9 Common Sports Betting Mistakes to Avoid.