Free Each Way Calculator For Matched Betting
Thanks to our each way matched betting calculator, we can figure out any potential each way back and lay bets that you need to make to profit from extra place offers and enhanced odds. There are a few more numbers to fill in than the standard matched betting calculator, but we’ll explain exactly how to enter the numbers and calculate your returns from EW betting here.
What is An Each Way Bet?
When we place an each way bet, say £10 each way, we are essentially making two bets. We are betting £10 that a horse will win a race; and we are betting £10 that that same horse will place in that race. And by place, we commonly mean will finish in the top three or four - though this depends on the number of runners in the field. Sometimes, often during big race meets like the Grand National Festival at Aintree and Cheltenham Festival, bookmakers offer extra each way places to entice punters to bet.
When extra places are offered by a bookmaker punters can profit, because exchanges will not be offering the extra place. Let’s use an example to illustrate this.
You back a horse each way and they are paying 4 places instead of 3. You place your £10 bet each way, which will total £20. Essentially you are betting £10 on the win and £10 on the place. If your horse wins, you will win your £10 win bet and your £10 place bet. If your horse places 2nd - 4th, you will lose your win bet, but win your place bet.
The exchange offers a win market and a place market as well, but the place market is only 3 places instead of 4. In this scenario if you backed each way and layed the win and place market on the exchange and your horse came 4th, you would win the place part of your each way bet and win your lay stake on the place market at the exchange. This can be very profitable for matched bettors over the long run, especially on horse at higher odds.Learn less Learn more
How To Use the Each Way Calculator
Our Each Way Matched Betting Calculator asks for the race details. Let’s say we’ve chosen Another Horse in the 2.35 at York. We can see that our “favourite” bookie is offering payouts of 1/4 for each way wins, so we select 1/4 from the Back Place Payout box. We know that our bookie is paying four places and our exchange is paying three places, so we select these from the relevant drop-down menus at the top of our Each Way Calculator.
We then input our Win Back Stake and our Back Odds. Because we are essentially making two bets, inputting £10 as our Win Back Stake automatically adds £10 as our Place Back Stake beneath it.
Because we are essentially backing two outcomes, we must also lay two outcomes. We input our Win Lay Odds and Place Lay Odds and the exchange where we’re laying our bets.
As we input our details, the Each Way Matched Betting Calculator whizzes through the calculations, telling us how much to lay on each market and detailing our profits in real time as we make our selections.Learn lessLearn more
Each way (E/W) bets are most commonly placed on horse racing. An each way bet is essentially two bets combined. When you place an each way bet, you place one bet on a horse to win the race, and one bet on the horse to place in the race.Learn lessLearn moreLearn more
The each way matcher searches for each way bets that can be backed and laid for potential profits. Before using this tool, you should familiarise yourself with the Each Way Betting Basics and Risks and Making Profits with Each Way Bets tutorials.Learn lessLearn moreLearn more