The Each Way Double betting plan is increasingly becoming one of the most popular forms of race online betting methods in the modern-day sportsbooks, particularly in horseracing betting circles. Generally, an Each Way Double bet entails picking two selections in two different races, and then backing Each Way such that they both amount to two separate double bets as follows: a Win Double and a Place Double.
Each Way Double Explanation For Doubles and Each-Way Doubles
Usually, the cost of Each Way Double bets are more-or-less the same as doing an Each Way bet on a single selection, with the only difference being that any winnings in the first selection of the Each Way Double stake (a Win Double) are carried forward to the second selection (a Place Double). Due to this cumulative effect of the double bets, the odds don’t even have to be that good for you to profit well from the wagers; all you need is for the two selections to win for you to reap bountifully.
Another advantage of this staking plan is that a good run of successful bets could easily grow your bankroll in a huge way over a short period of time. Plus, with just two selections to make, your chances of succeeding are greatly increased, as opposed to wagering on several options like in Trifectas.
Still, you should be careful about this betting method as there is a catch to it. If, for example, one of your horses wins, and the other doesn’t place, you will win NOTHING, kind of like in parlay betting.
Example of Each Way Double Betting
If you have placed a bet on American Pharoah for $50 Each Way Double at a price of 14/1, with the each way terms of the race set at five places at a quarter the odds, and then both horses win; here’s how your total returns will be calculated:
Simply put, you will be paid on the win part of your bet, which is $50 at 14/1 odds, and the place part of the bet as well, which is $50 (plus winnings from the win part) at a 1/4 of 14/1 odds.
Mathematically-speaking, your total pay will be:
- WIN: $50 at 14/1 pays $750 ($50 x 14 =£70 + your $50 stake back).
- PLACE: 1/4 of 14/1 is 3.5/1, meaning the place part of the bet is paid as $50 (plus $750 from the first win) at 3.5/1 = £2850 ($800 x 3.5 = $2800 + your $50 stake back).
- TOTAL RETURNS: WIN plus PLACE = $750 + $2850 = $3600
As a note, if only 1 horse wins and the other places, you would only get to win the Each Way part of the double bet. However, if 1 horse wins and the other doesn’t place, then you lose as no single bets are placed in the Each Way Double.
If the math here is proving too cumbersome or complex for you, worry not as there are Each Way Double Bet calculators like this all over the internet to help you avoid the head-inducing drama that comes with calculating the profits from this highly profitable race betting strategy.