For those who place sports bets on races, whether they are horse racing, greyhound racing, or motor sports like Indy and Formula 1, it is common to find the option of “Each Way” bets. This type of bet is very popular in these modalities and offers the possibility of winning with two outcomes of the competition, considering not just the winner, but the top placements.
How does it work?
On sports betting platforms, this type of bet can also be found as “V/C”, an abbreviation for “Victory” and “Placement”. In practice, an each-way bet is two bets in one. So, if a user selects this option and places R$10 as the stake, the each-way bet will be R$20.
Of this amount, R$10 is bet on the victory of the chosen competitor, with the victory odds, and the other R$10 represents a bet on the possibility that the target of the bet will finish among the top positions. The odds for the placement bet represent a fraction of the original victory odds, and the positions that count as a win can vary between sports.
In the case of Formula 1, for example, a popular operator defines the line as “V/C 1/5 1-2-3”. It may seem complicated at first, but this simply means that the placement odds represent 1/5 of the original victory odds and that the considered positions are 1, 2, and 3. In other words, if the chosen driver doesn’t win but finishes on the podium, the user wins the placement part of the bet.
Let’s look at a numerical example to help understand. For instance, in the Dutch Grand Prix, Lando Norris of McLaren is the favorite to win, with odds of 2.75. If a user places a total each-way bet of R$20 on the driver, they will have a potential return of up to R$41, divided as follows:
- R$10 at odds of 2.75 for the win = R$27.50
- R$10 at odds of 1.35 (which represents 1/5 of the victory odds) = R$13.50
So, if Norris wins, the R$20 bet returns R$41. However, if he does not finish first but places among the top three, the user still receives R$13.50 back from the R$ 20 bet, avoiding a total loss. It is worth noting that both the fraction of the placement part and the positions that count for the result vary between different sports.
It is easy to see that the advantage of an each-way bet is being covered in case the victory does not happen. Additionally, if the bet is placed on a competitor with high odds, it is possible to make a profit even if only the placement part is successful. On the other hand, the user effectively places two bets, wagering double the amount and potentially losing double if neither of the bets succeed.
In Other Sports
Each-way bets are not only available in different types of races. For example, in golf, several betting sites also offer this type of option on the final outcome of a tournament. This way, it is possible to place a bet on your favorite player and not lose the entire stake if they come close to winning the title.
Another option exists in future bets on football, regarding the outcome of a competition. Usually, this type of bet covers only the top two positions of the tournament. In other words, if the team wins, the user receives an extra amount, and if the team finishes second, at least the bet is not entirely lost.
