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Each way is the most popular bet in British horse racing, but working out the return is not always obvious. How much is the place part worth? What happens if your horse finishes third at 12/1? Our each way calculator answers that in seconds. Enter your odds, choose the place terms and mark whether your horse won, placed or lost.
Each way calculator
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What does each way mean?
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An each way bet is two bets of equal stake on the same selection:
- The win part pays if your selection wins, at the full odds.
- The place part pays if your selection finishes in one of the paid places, at a fraction of the odds.
Because it is two bets, the total stake is double. A £5 each way bet costs £10. If your horse wins, both parts pay out. If it finishes placed but does not win, you lose the win part and collect on the place part. If it finishes outside the places, both parts lose.
Each way is popular because it gives you a second way to collect. It suits bigger-priced selections in competitive races, where a win is far from certain but a top-three finish is realistic.
How to use the each way calculator
- Set Each way to Yes. The calculator then doubles the number of bets and the total stake.
- Choose the place terms the bookmaker offers: 1/4, 1/5, 1/3 or 1/2 of the odds.
- Enter your stake per part. For a £5 each way bet, enter £5.
- Add your odds as a fraction or decimal and set the result to won, placed or lost.
You can also use each way on doubles, trebles and full cover bets such as a Yankee or Lucky 15. Choose the bet type at the top and the calculator works out the win and place combinations separately.
Each way place terms in UK horse racing
Place terms tell you how many places are paid and at what fraction of the odds. Most UK and Irish bookmakers use these standard terms:
| Race type and runners | Places paid | Fraction of the odds |
|---|---|---|
| 2 to 4 runners | Win only | No each way |
| 5 to 7 runners | 2 | 1/4 |
| 8 or more runners (non-handicap) | 3 | 1/5 |
| Handicap, 12 to 15 runners | 3 | 1/4 |
| Handicap, 16 or more runners | 4 | 1/4 |
On big race days many bookmakers offer enhanced place terms, such as five, six or even more places on the Grand National. Extra places increase your chance of collecting on the place part, but the fraction or odds may differ, so always check the terms on the bet slip.
For other sports the terms vary. Golf outright markets often pay five to ten places at 1/5 odds, while greyhound racing usually pays two places at 1/4 odds in a six-dog race. Read more in our greyhound betting guide.
Each way examples
Example 1: your horse wins
You place £5 each way on a horse at 8/1, with place terms of 1/5 for three places. Total stake: £10. The horse wins.
- Win part: £5 at 8/1 returns £45.
- Place part: 8/1 at 1/5 is 8/5, so £5 returns £13.
- Total return: £58, a profit of £48.
Example 2: your horse finishes third
Same bet, but the horse finishes third. The win part loses and the place part pays.
- Win part: lost (£5).
- Place part: returns £13.
- Total return: £13, a profit of £3.
Example 3: a short-priced horse is placed
You back a 2/1 favourite £10 each way at 1/5 odds. It finishes second. The place part is 2/1 at 1/5, which is 2/5. Your £10 place stake returns £14, but your total stake was £20, so you lose £6. This is the key lesson of each way betting: on short-priced selections, a place often still means a loss overall.
When is each way good value?
Each way betting is not automatically better than a win bet. It works best in specific situations:
- Bigger prices: at 10/1 and higher, the place part can produce a profit on its own.
- Generous place terms: races of 8 to 10 runners with three places, or handicaps of 16 runners with four places, often give the place part good value.
- Extra places: bookmaker offers that pay one or two extra places improve the odds in your favour.
It is usually poor value on favourites at short odds or in small fields where only two places are paid. In those cases a win single, or a place-only bet if available, is often the better choice.
Each way outside horse racing
Each way is not only for the races. In golf, outright winner markets often pay five to ten places, which makes each way the standard bet on big tournaments. Football top goalscorer and outright league markets sometimes offer each way terms too, usually paying two to four places. The same rule applies everywhere: check how many places are paid and at what fraction before you place the bet.
Each way and Best Odds Guaranteed
If you take an early price and the starting price ends up bigger, a bookmaker with Best Odds Guaranteed pays you at the bigger price. This applies to both the win and the place part of an each way bet. It is one of the simplest ways to get more from each way betting on horse racing.
Each way multiples
An each way double or accumulator is two separate multiple bets: a win multiple and a place multiple. The place multiple uses the place odds of every selection. That means one horse that is placed rather than winning ruins the win part, but the place part can still pay if every selection at least finishes in the places. Use our acca calculator to test different scenarios.
Each way vs place only
Some bookmakers and the Tote let you back a horse to place without the win part. A place-only bet often pays a little more for the place than the place part of an each way bet, because the odds are set separately rather than as a fixed fraction. Each way is still the standard choice in Britain, because it is offered on almost every race and the win part gives you the full upside if your horse wins. If you are mainly backing a horse to run well rather than win, it is worth comparing both options before you bet.
Place your each way bet
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Our pick: place your each way bet at Inky Bet, or check the place terms at Tip-Top and Jackpot City. Always set a budget, and remember that an each way bet costs double the stake you enter.
Key points to remember
- An each way bet is two bets, so it costs double the stake you enter.
- The place part pays a fraction of the odds, usually 1/4 or 1/5, depending on the number of runners.
- Each way is best value on bigger prices in races with generous place terms or extra places.
- On short-priced favourites, a place often still means a loss overall.
- Best Odds Guaranteed applies to both parts of the bet at most bookmakers.
An each way bet is two bets of equal stake: one for your selection to win and one for it to finish in the paid places. A £5 each way bet costs £10 in total.
The win part is paid at the full odds. The place part is paid at a fraction of the odds, such as 1/5. At 10/1 with 1/5 terms, the place odds are 2/1.
In UK horse racing it depends on the field: 2 places for 5 to 7 runners, 3 places for 8 or more, and 4 places in handicaps with 16 or more runners. Bookmakers may offer extra places on big races.
Yes. On short odds the place part can return less than your total stake. A 2/1 shot placed at 1/5 odds returns only 2/5 on the place part, so you lose money overall.
Not always. Each way is best value on bigger-priced selections in races with generous place terms. On short-priced favourites a win bet is usually the better option.