An Each Way bet splits your stake into two. 50% of your stake is placed on a win. The other 50% is placed on your horse finishing in one of the predetermined positions. Generally this is either in the top 3 or 4 depending on the number of runners. The odds on the position are usually a third or a quarter of the win odds.

Horse racing odds change very quickly. When one or two horses become strong favourites their odds decrease. This creates artificially high odds for some of the outsiders. An each way bet doesn’t differentiate between a horse finishing in 2nd, 3rd or even 4th. This creates a value bet situation that we can take advantage of.

EachWay sniping works on small margins. It is possible to lay the each way bet and guarantee a profit. This can be risky as odds can change while placing the bets. By laying the bets at an exchange you will also have to factor in the bookmaker commission. A much quicker (but also riskier) method is to place value each way bets when they come up without laying them. Just as with Value Betting, this can lead to long periods of losses. Over time and with enough bets, you will be profitable especially if you utilise good bank roll management and stake sizing.

Finding your own eachway value bets is incredibly time consuming. Thankfully, Oddsmonkey have an excellent each way matcher which will pick out all the positive value each way bets for you.


    1. Sign up to oddsmonkey using the link above. We recommend getting a subscription as they are relatively cheap and as well as the Eachway matcher, they also have the best oddsmatcher, dutching calculator and a whole host of other great tools and calculators which will quickly become essential if you want to continue to earn a profit from bookmakers.

    2. Open the Oddsmonkey Eachway Matcher. Click on Filter. Under Bookmakers, select 888Sport, Bet365, Betfair Sportsbook, Bethard, Bwin and Unibet. Keep all the exchanges selected. Even though only Betfair are available in Sweden, we're not going to lay the bets anyway and only selecting them will decrease the number of results. Set the following values for the ratings:


    3. If no results show up don't panic. There aren't always value bets available especially in the evenings when the racing has finished. The best times to check is in the afternoon or early evening. When you do get results they will look like this:


    4. Now just place bets on the horses with a rating of 100% or more. The Rating column includes the exchange commission so our actual expected value will be slightly higher. If it has a high rating, you can lay the bet to make a small guaranteed profit. As the only exchange available in Sweden is Betfair who charge 5% it works out as better value in the long term to not lay the bets (although it does carry more risk.)

    5. Good bankroll management is crucial. This will help you to reduce the risk and ensure you don't run out of money. Do not place more than 1% of your total bankroll on each bet. Be prepared for long losing streaks ("downsizing") and record every bet you placed logged along with the rating. This will enable you to accurately track your profits along with your Expected Value.