Bet365 1-2-3

[Jeff]

Toput it another way, where an Each-Way bet would ask you to pay double the stake and essentially break your bet up into two bets, one for a Win and one for a Place, 1-2 bets look to keep things simple and only take one stake but pay out on a similar number of places. If your chosen horse finishes first or second, or first, second or third if you opt for a 1-2-3 bet, then your wager will be a winner. It allows you to put your entire stake on the horse doing what you want it to, rather than splitting your stake in half.

Another option for punters is a cover bet, again you accept lower odds overall but here this pays out if you win and gives you your stake back if the horse places. You can often choose the number of places you want to cover.

The odds diminish the more places you want to paid out on, which makes perfect sense given the more chance there is that the bookmaker in question will end up having to pay out if it finishes third. You can see that the odds almost halve when you move from a straight Win bet to a 1-2 wager, shifting down again when you extend it out to being a 1-2-3 bet.

As with the race at Newcastle, you can see that the odds all but halve if not more when you opt for the 1-2 odds over placing a bet to Win, dropping by a similar amount when you look at the 1-2-3 market.

When you make an each-way bet, the amount you wager is typically split into two equal portions with half of your wager going into the outright (to win bet) market and the other half going into the placement market (e.g. top-3, top-5 etc).

Each-way bets are a type of wager that can be found across various sporting events on many popular online bookmakers. Their most common usage tends to be in horse racing, golf, and NASCAR (motorsports), where large fields are a weekly norm and each-way bets allow bettors an alternative way to invest. While all each-way bets have both a to-win bet and a to-place bet, the odds and specifics for the placement portion of the bet can vary tremendously across fields, sports and oddsmakers.

The outright portion of the each-way bet is simple. If your player wins (whatever event you are betting him or her to win), then the to-win bet will be paid out at whatever odds at which you placed the bet:

For the placing portion of your each-way bet to cash, your golfer would need to finish inside the number of places outlined by the bookmakers. In the above example, the place terms goes to 5 places, so Tiger would need to finish inside the top five.

In the above example, the terms were: 1/4 of the outright odds and 5 places (top five). But here is another example from the same sportsbook (bet365) in the same sport that offers very different each-way terms.

The majority of bookmakers will apply dead-heat rules to the placement portion of a golf each-way bet, meaning that if a player finishes inside the top-5, but has also tied with multiple other players in his position, then the placement payout would be downgraded.

For example, if Tiger Woods (from the example above) were to finish T3 in the Masters (tied for third) at 12-under, but four other golfers also tied with him at 12-under, then five players would in fact be sharing finishing positions 3rd through 7th.

Since the each-way bet only stipulated that the each-way pays out 1/4 on a 1-5 placing, the payout of the each way would be cut down by the percentage of the actual full placing he achieved.

It can get a little confusing, but the main thing to be aware of is that your payouts for the placement portion of your each-way bet can be affected when players tie and effectively bloat the number of players inside a particular finishing position.

Each-ways can be a valuable tool when betting large field events like we often see in golf. Often, each-way bets will allow you access to better-placing odds than are available in the regular placing markets.

While the each-way bet does force us into making two bets (place and win), the improved placing odds can often be a great reason to consider making an each-way bet over a straight placing bet or outright bet.

Golf, NASCAR and horse racing are often great sports to consider each-way bets as the larger fields mean there is a better chance of more players having been under-priced relative to their actual ability.

A lot of sport-specific knowledge is obviously needed to know where the best value can be found in these kinds of larger field golf, NASCAR or horse racing events. However, understanding each-way terms and knowing where to line shop for the best deals can also be a big help in getting the best value on each-way bets.

Each-way bets can help you reduce some of the variance in betting golf outrights. Since tournament fields on the PGA (and elsewhere) tend to be anywhere from 40 to 155 players (depending on the event) each-ways helps to take some of the variance out of betting straight outrights.

While each-way bets in golf are becoming more popular, they are still most prevalent in the overseas betting markets where sportsbooks like bet365, Betfair, Skybet, Paddypower and Unibet put up each-way offerings for golf every week.

NASCAR is similar to golf in that each week there are large field events where the winner is beating out 20-plus other competitors. As a result, you can often find each-way bets available for NASCAR at certain sportsbooks.

In the above example from bet365, we can each-way our Super Bowl future if we so choose, and get terms of EW 1/2 2 places. So if the Bengals make the Super Bowl but lose (and thereby finish as the second-best team for the year) the place part of the each-way bet will still get paid.

Each-way bets are most prominently found overseas where horse racing and golf are popular sports to bet. Several overseas sportsbooks like bet365, Betfair, Paddypower and Unibet offer each-way terms on a variety of different sports.

This can and often does vary by sportsbook. The most common golf each-ways offer is 1/4 to 1-5 (so 1/4 the outright odds for a top-5 finish). However, with golf betting becoming more mainstream, sportsbooks are offering more competitive deals.

Each-ways can often be found in futures betting on things like the Super Bowl. Many sportsbooks offer each-way bets where the placing portion of the bet gets paid out if the team you are betting on reaches the Super Bowl.

Common terms are often 1/2 at 1-2. So your placing bet would offer you half the odds for your team reaching the final. Your outright portion of the each-way would still require your team to win the Super Bowl to get paid out.

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