Betting math
Each-Way Golf Bets
Each-Way Golf Bets Explained
An each-way golf bet is two equal bets placed at once: one on the golfer to win outright, and another, separate, bet on the golfer to finish within a defined number of top positions.
How Each-Way Golf Bets Work
Each-way betting is two separate bets in one stake, with one part paying if the golfer wins, and the other part paying if the golfer finishes on a defined number of top positions.
If the golfer wins, both parts pay. If the golfer finishes inside the paid places without winning, only the place part pays. But if the golfer misses the places entirely, both parts lose.
As an example, a $5 each-way stake costs $10 because it is split into $5 on the win and $5 on the place.
What Counts as a Place in Golf
The number of positions that count as a "place" and return on the place part of the bet varies. It typically depends on where and what the golfer is playing.
In golf, the place part is commonly paid on the player finishing:
- Top 5 in most competitions
- Top 4 or top 8 by some bookmakers
- Top 10 in golf tournaments
For example, if odds for a tournament win are 20/1, a top 5 each-way would pay at 1/4 of those odds for a place — so 5/1 on the place bet.
How Each-Way Betting Differs from Finish Markets
Each-way bets should not be confused with outright betting markets where the bet settles exclusively on the golfer finishing in a specific place.
The outright top 5, top 10, or top 20 markets are on a golfer finishing precisely in that range.
Each-way is different because it pays a full win on the golfer winning, and an alternative place pay on the golfer finishing inside the bookmaker-defined top level of places.
Why Golf Betting Uses Each-Way Terms
Each-way betting is most common in golf outright markets where books pick a player to finish top 5, top 10 or top 20.
Traditionally, golf pays a wider range of places to attract players because of the long odds involved, and the volume of players.
Some sources suggest that golf outright bets pay multiple places to compensate for the relatively higher risk involved in making an outright bet.
What Bettors Must Check
A bettor placing an each-way golf wager needs to confirm the exact place terms, fraction, and dead-heat settlement used by the bookmaker.
Each-way terms can vary significantly between books, so a $5 each-way stake with 33/1 win odds on a particular golfer might yield much different payoffs at different books.
Worked example
$10 each-way on a 50/1 golfer, 1/5 odds, 5 places ($20 staked)
| Result | Win part returns | Place part returns | Profit / loss |
|---|---|---|---|
| Wins the tournament | $510.00 | $110.00 | $600.00 |
| Finishes 3rd | $0.00 | $110.00 | $90.00 |
| Tied 5th with two others | $0.00 | $36.67 | $16.67 |
| Finishes 6th or worse | $0.00 | $0.00 | -$20.00 |
Place odds are 1/5 of 50/1 = 10/1. In the tie, three players share the one remaining paid place, so one third of the $10 place stake is settled at 10/1 and the rest loses.