Is each-way betting worthwhile?

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Is each-way betting worthwhile?

Postby Brian » Fri Dec 19, 2014 12:12 pm

We have some excellent horse racing tipsters on the Tipster Table area of the site and many of the better ones often choose to tip each way.

I was looking over the results yesterday however and it appears that the returns would be much greater (as if they weren’t good enough already!) if they were all backed as win only and not each way.

I wonder whether each way betting is every worthwhile and wanted to get some more thoughts? Perhaps it’s like cashing out on Betfair in that it seems good in the short term and seems safer but mostly costs you in the long term?
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Re: Is each-way betting worthwhile?

Postby will9988 » Fri Dec 19, 2014 11:29 pm

Your completely correct, the only reason I see for each way betting is so some punters don't lose interest after 10 losers, and they can see something coming back occasionally from the place part of the bet. It's much more profitable to concentrate on win only. I totally agree..
Also, there are some very good tipsters on the site, thank you very much...

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Re: Is each-way betting worthwhile?

Postby Rhinoceros1980 » Sat Dec 20, 2014 12:38 pm

I can see where you're coming from with this but I do think maybe it keeps a little bit of profit ticking over or at least reduces the loses of tipsters who tip up big price horses, obviously the downside is you dont get maximum returns when a big one lands. Although that being said im just grateful when the big ones land and am not too bothered if ive backed them each way. I have a couple of friends that visit the site and any tip over about 8/1 they back each way, so some people are always a bit over cautious. The other thing to consider is that maybe a tipsters believes a long price horse say 33/1, 40/1 etc is going to place in a race but see it being beaten by something else, therefore tipping it each way or backing it just to place on betfair. Just to say you are doing a great job with this site and everyone here is brilliant. Keep up the good work and merry xmas everyone. Thanks to all the good tipsters

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Re: Is each-way betting worthwhile?

Postby sideshowbob » Thu Jan 01, 2015 1:02 pm

each way is a mugs game and bookies prey on it
eg. 1/4 odds 20-1 first 4, gets placed, stake 1pt ew, returns 6pts, in effect backing at 2-1, isn't it easier to pick a 2-1 win and have 2pts on it ? or have 2pts win at 20-1, sermon over

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Re: Is each-way betting worthwhile?

Postby kittrad » Fri Jan 16, 2015 4:50 pm

In theory, it's worth looking at but I still don't have the results for it though.
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Re: Is each-way betting worthwhile?

Postby RugbyTips » Fri Jan 30, 2015 5:13 pm

Most of the time I find each way is worthwhile but there are many factors:
1. The each way terms. I've never seen a horse in a race where the bookies offer extra places being a bad each way proposition. 7 runners generally make bad each way propositions with only 2 places. 8-15 horses it can go either way but generally 16+ runners make good propositions.
2. Strength of the favourite. If the favourite is odds on it's an obvious each way bet, the worse the terms the shorter the favourite must be. The best example I could give was tapestry in the yorkshire oaks. As a 7 runner it didn't seem promising for each way but Taghrooda was 1/5. When the favourite is a short price the win price of your horse is much bigger and the place part of your each way is artificially inflated by the higher win price because your horse doesn't have to beat the favourite to place. I had tapestry backed each way at 10/1, that is 11.0 for the win and 3.5 for the place in decimal odds. The betfair starting price was 16.0 for the win and 2.5 for the place which showed it was a very good race to have an each way in as the market suggested the each way terms should be 1/10 odds 2 places for this horse. An 8 runner race with the 5 horses at the top of the market at 5/1 is a pretty poor each way race.
3. Strength of the worse horses in the race. Often a 16 runner national hunt maiden in which the bookies only offer 1/5 odds 3 places (which is all they're obliged to do in non-handicaps) is still a good each way race because over half the runners are 300/1 or longer on betfair, and thus give you more favourable terms without really reducing your horse's prospects of placing.
4. Non runners. I don't like backing each way in an 8 or 16 runner the night before with the prospect of non runners unless I think it's OK each way in a 7 or 15 runner race.
5. Price of the horse. Everyone goes each way at bigger prices and they're generally better propositions but in a 'neutral each way' race I often go each way at the bigger prices. The reason being it provides better insurance against going bust. If your horse is 20/1 and your options are 2 pt win or 1 pt each way you can afford to stake with a bigger point if you go each way because there's less variance at the lower odds and thus less potential to go on a bad run.
6. Boom or bust. I saw Hugh Taylor mention he stopped going each way because he was picking horses who could run brilliantly but could also flop and it's pretty clear if your horse is like this you're as well just backing the win. The most obvious example is not to go each way in antepost markets with no NRNB, as not showing up would be the ultimate flop.

With these factors taken into account you can pick out good each way races fairly easily. The most obvious one I could think of right now is backing Jezki each way NRNB 6/1 for the champion hurdle. You're getting 1/4 odds 3 places, which you won't get on the day as it's unlikely you'll get 12 runners. The horse is a solid performer and you get NRNB to insure against him not showing up. Faugheen is a strong favourite and it's almost a 5 horse race between Faugheen, The New One, Hurricane Fly, Arctic Fire and Jezki, perhaps being generous to Arctic Fire, so you're almost getting 6/4 to come in the first 3 of those 5.

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