How an each-way bet works
A £5 each-way bet costs £10: £5 to win and £5 to place. If the selection wins, both parts pay. If it finishes in the places without winning, only the place part pays, at a fraction of the win odds. If it finishes outside the places, both parts lose.
Place terms depend on the race. Under the standard UK rules, races with 5 to 7 runners pay 1/4 the odds for two places, 8 or more runners pay 1/5 for three places, handicaps with 12 to 15 runners pay 1/4 for three places, and handicaps with 16 or more runners pay 1/4 for four places. Races with fewer than five runners are win only.
Example: £5 each way at 10/1 with 1/5 terms. If it places, the place part pays at 2/1: £10 profit plus the £5 stake, £15 returned. The £5 win part loses, so the bet makes £5 overall.
Worked example: £5 each way at 10/1
| Result | Stake | Return | Profit |
|---|---|---|---|
| Wins | £10.00 | £70.00 | £60.00 |
| Places (2nd or 3rd) | £10.00 | £15.00 | £5.00 |
| Unplaced | £10.00 | £0.00 | -£10.00 |
Standard UK each-way place terms
| Race | Places paid | Fraction of odds |
|---|---|---|
| 2 to 4 runners | Win only | – |
| 5 to 7 runners | 1st, 2nd | 1/4 |
| 8 or more runners | 1st, 2nd, 3rd | 1/5 |
| Handicap, 12 to 15 runners | 1st, 2nd, 3rd | 1/4 |
| Handicap, 16 or more runners | 1st to 4th | 1/4 |
Worth knowing
Each-way betting on short prices rarely pays. At 2/1 with 1/5 terms, the place part pays just 2/5, so a placed horse returns less than you staked overall. Each way works best on bigger prices where the place part alone can cover both stakes.
Each Way questions
How is an each-way bet calculated?
The win part is settled at full odds and the place part at the place fraction of the odds. At 8/1 with 1/4 terms, the place odds are 2/1. A £2 each-way winner returns £18 from the win part plus £6 from the place part, £24 from a £4 stake.
What are extra places?
Some bookmakers pay more places than the standard terms on big races, for example five places instead of four. The calculator settles any finish you mark as Placed, so an extra place is just a placed result.