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An Each Way Double bet is best thought of as not one bet but two separate bets:
As it involves two separate bets, you need to place double your stake to back it. For example, a £5 Each Way (often shortened to EW or E/W) Double will actually cost you £10.
To place involves finishing in the top 3 usually, but could be to finish in the top 2 or top 4 – the number of places is based on the number of runners and the type of race. The bookmakers will sometimes even pay 5 places for the biggest handicap races such as the Betfair Hurdle and the big field handicaps at Cheltenham Festival.
Just click the “Back this tip here” button, tick the Each Way box next to Double (you don’t need to tick the two next to each individual horse unless you are also backing the two horses as Each Way Singles) and then type in your stake to back the Double tip. Don’t forget your stake will double so if you want to place a bet of, say, £5, enter 2.50 in the stake box – not £5.
The key word for our Each Way Double tips is value – we tip horses we think are significantly bigger odds in the market then they should be. This means our tips are often big prices, and we’ve landed previous Each Way Double winners that have paid over £1,000 from just a £5 Each Way bet!
To calculate the returns from the To Win part of the bet is easy – it’s just a normal Double. Work out the returns of the first leg of the double, then times those returns by the odds of the second leg of the double. For example:
£10 on a Win Double of two 6/1 winners
Leg 1: £10 times 6/1 = £70 returns
Leg 2: £70 times 6/1 = £490 returns
Total returns: £490
The place part of the Each Way Double tip is slightly more complicated to calculate. This is because the Place part of the bet is paid at a fraction of the odds of the Win part – either 1/4th or 1/5th of the win odds.
£5 on a Place Double of two 8/1 places at 1/4th odds
£5 times 8/1 divided by 1/4th = £5 times 2/1 = £15 returns
£15 times 8/1 divided by 1/4th = £15 times 2/1 = £45 returns
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