Each-way bets or "placed winner" bets
are a type of wager in which two bets are placed in one. One half is
used to bet on the winner of the event, and the other half is used to bet on
our selection or team to finish in the placing places, hence the name
"placed winner".
The placings are specified in the bet, and can
vary depending on the sport: top three in a motor race, top three in an
athletics event, top five in a horse race, finalists in a tennis competition...
The variety is enormous.
By definition, an each-way bet is a diversified
bet. "Each way" can be interpreted as different ways, being a bet
that actually takes two different paths; hence it is considered to be a
2-in-1 bet. Within the classification of placed win bets, there are several
types.
For example, one of the most common is the 1/4
- 1-3 bet. These numbers are common in this type of bets. With these
numbers, the bookmaker is informing about the conditions of the placed winner
bet. In this case, 1/4 refers to the total amount that will be paid for the
placed winner bet, and 1-3 specifies the number of placing positions that the
event admits.
In an each-way bet 1/4 - 1-3, the odds we
will be paid will be one quarter of the placed bet, and it specifies that
only places 1 to 3 are allowed, i.e. we can bet on the three finalists or the
three participants who will finish in the podium places.
On the other hand, an each-way bet 1/4 - 1-5,
indicates that we will be paid a quarter of the total for the placing bet, but
it also admits for this bet the first five finishers, which widens the
range of options. Each bet must specify these two concepts in order to be able
to choose the one that suits us best.
Not all sports are bet on eachway bets in the
same way. In fact, not all events support this type of bet. However, depending
on the event, there may be a greater or lesser repertoire of placed winner
bets, depending on the number of matches and the characteristics of the sport.
In the major sports, it is possible to find a
wider range of win bets, including soccer, basketball, motor sports,
tennis and even horse racing.
In motorsports, in fact, it is the most common
type of bet, since it is easier to predict the podium areas than just the
winner. In Formula 1 or MotoGP, for example, we can speak of an eachway bet 1/4
- 1-3, which picks the podium places and maintains a balanced odds per
bet.
Let's look at the example of soccer. It is not
the most common type of bet in this sport. In fact, it is complicated to guess
the finalists of a World Cup, at least more than trying to make a forecast only
with the winners of a specific event. But we can do it, especially if we see
that we are given the option, because then we can make a profit if at the end
of the World Cup our selected teams have reached the top of the
competition.
The good thing about placed winner bets is that
they are based on the position, not the result. It doesn't matter if an
F1 driver arrives in third place with a lead of 2 seconds or 40 seconds, the P3
will be his. The same in soccer: it doesn't matter if a team qualifies for the
final with a 1-0 or a 5-0, what counts is the position.
The downside of this is that for some sports it
is somewhat more complex and difficult to predict than a specific result,
although it depends on the characteristics of each event. For example,
in soccer it can be more complex to predict the positions of placed players
than the specific results of a match, but in motor sports or other events such
as tennis it can be much simpler.
In basketball, for example, it is common to bet
on the placement in leagues, when they are played in a knockout format that
allows you to try to predict who will make it to the final. This type of
bet is not incompatible with other bets in which scorers, three-pointers and
others are predicted. As we always say, diversifying strategies is usually the
most recommended to have a plan B in case reality has nothing to do with our
predictions.
There are sports in which, due to their
characteristics, placed winner bets admit little or no margin. For example,
tennis, where all placed bets will be 1-2, since only two players face each
other per match in the classic modalities. In motor sports, for example,
we are talking about at least twenty contenders on the track, which opens up a
much wider range of possibilities.
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