Each way matched betting

The mechanics

An each-way bet at £5 each way stakes £10 total — £5 on the win and £5 on the place. The win side settles at the full back price; the place side settles at a fraction of the price (typically 1/4 or 1/5 depending on the race).

To hedge, you lay the horse for the win on the exchange, and separately lay it on the exchange's Place market. Both lays are sized independently.

When to use it

For extra-place offers (see the dedicated guide), each-way is the required setup.

For standard offers requiring an each-way qualifier, use the odds matcher's each-way filter and lay both components as directed.

For 'money-back if 2nd' offers, an each-way qualifier gives you a natural hedge on the place side.

Place fractions matter

Different races use different place fractions: 1/4 odds is standard on most flat races with 8+ runners, but handicaps often pay 1/5. Bookmakers reduce the fraction on smaller-field races.

The odds matcher's calculator asks for the fraction — enter it correctly. Using 1/4 when the race is 1/5 misprices the lay significantly.

Common mistakes

• ✕Forgetting to lay the place market entirely.
• ✕Using the wrong each-way fraction in the calculator.
• ✕Placing the win and place lays sequentially without checking the price hasn't moved.

FAQs

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