Antepost, futures and each way betting

Each way betting effectively provides punters with insurance if their bet finishes second or third.

To help illustrate what each-way terms are, we can look at Wimbledon 2018’s Ante Post. Nick Kyrgios was +1600 to win the tournament. That sportsbook offers “each-way” terms of +800.

A punter that selects Kyrgios and manually selects the each-way terms will still win something if Kyrgios loses in the final.

Importantly, each-way terms have two bets involved. If you bet 5 units on Kyrgios each way to win Wimbledon then you would be betting 5 units on his outright odds and 5 units on his “place” odds. That means the following bets would be placed:

• 5 units @ odds of +1500: if Kyrgios wins Wimbledon outright the bet pays out 85 units
• 5 units @ odds of +800: if Kyrgios wins or finishes runner-up the bet pays 45 units

You have bet 10 units and both bets pay out if Kyrgios is the Wimbledon champion for a total of 130 units. If Kyrgios finishes 2nd then the second bet still pays out for a return of 45 units. Each-way terms are nice if you are betting small on huge longshots. In that case, you only need the player to make the final.

For example, Caroline Wozniacki lost in the 2014 US Open final to Serena Williams. But Wozniacki was a pre-tournament longshot at about 50 to 1. Those that bet her and selected “each-way” terms of 1-2, 1/2 would have received 25 to 1 on the place component. Those odds are more than long enough to pay for the losing outright bet with plenty leftover for bankroll gains.

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Each-way terms are often only expressed as “1-2, 1/2” in a lot of sports. However, you see different expressions in golf and horse racing. For example “1-5, 1/3” would mean that the player or horse you bet on in Ante Post could finish 1st through 5th for one third of the odds. If you used these terms, then you would still only have two bets: one on the outright market and one on the place component.

In conclusion, the big benefit of futures betting (ie. Ante Post betting) is that you can get involved with your team or player without betting every game individually. A bet on the New York Yankees in early April to win the World Series involves you in every game along the way. That’s because the Yankees will still have to do well in the regular season just to make the World Series. It can be seen as a cheap way of getting behind a team. Perhaps the downside is that you will need to have some patience with Ante Post, because the settlement dates can be a long ways off.