Bet Each Way with a Bookie and Lay Win and Place in Betfair




When a bookie accepts your each way bet, the odds of the Place part of your bet are fixed by the bookie’s Win odds.
The most common place terms are a fifth of the win odds or a quarter the win odds if our horse or other selection is placed.

In Betfair, the Place market odds are totally detached from the Win market odds, so it is very unlikely that the place odds in Betfair will be a fifth or a quarter of the odds in Betfair’s Win market.
If we can find Lay odds in Betfair that are smaller than bookie Win and Place bet odds, we can trade for guaranteed winnings whatever the result of our horse race or other event.

An advantage of an Each Way Arb, is that it is not essential to make a profit from both the win and place parts of the trade.
For example, the win part of our trade might only break even or maybe make a small loss, whilst the place part of the trade makes a profit that puts the whole trade into profit.

There are of course 3 possible outcomes for an Each Way bet :-
Our runner wins, is placed, or is unplaced.
Whatever the bet and lay odds, we can bet with a bookie and lay both Win and Place markets in Betfair and equalize our trade for an equal profit or loss on all 3 possible results – Win, Place or Unplaced.
If we can bet with a bookie and lay with suitable odds in Betfair, we can stake to equalize our whole Each Way trade for guaranteed winnings – – – – a zero risk profit whatever happens to our runner.
Such trading opportunities will not be numerous, but they are there every day in horse races if you are prepared to look for them.
The spreadsheet below can be used to make these trades.

Trade like a Pro.
An alternative to equalizing our Each Way trade across all 3 possible outcomes, is to bias the staking a little to favour the Win and Placed outcomes over the Unplaced outcome.
A second spreadsheet in this Excel file shows the lay stake required to break even if our runner is unplaced, but show an increased profit if it wins or is placed.
Pro traders will use this technique to increase profit in the long term from their Each Way trades.

Input the size of your Each Way bet stake with the bookie, plus the bookie bet odds and Betfair lay odds from the win market and the place market.
The spreadsheet shows a range of lay odds and stakes for both Win and Place markets in Betfair, which enable us to trade to zero loss on an unplaced runner.
Commission deductions are built into the calculations.

Apologies for the poor quality of the sound recording in this video.