Each Way Bet Calculator
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Each Way Bets Explained
An Each Way Bet is made up of two bets. The first is part is a single bet for your selection to win. The second part is a single bet for your selection to ‘place’ in the specified number of top positions within an event.
Each ways bets are found in horse racing or other events where participants can finish in different positions.
The places your selection is allowed to finish in varies depending on the number of participants, the bookmaker, and the sport.
If your selection wins, both bets pay out (1st place fulfills the criteria of finishing in the specified top positions). If your selection places but does not win (E.g. 2nd or 3rd), only the place bet pays out, typically at a fraction of the original odds (commonly one quarter or one fifth of the win odds, depending on the bookmaker’s terms). You can set this fraction using the ‘Place Odds’ field on the Each Way calculator.
Each Way bets are useful when betting on competitors with longer odds, as they provide a chance to make a profit even if the selection does not win outright.
Each Way Example
Suppose you place a £10 Each Way bet (£20 total, as it includes both the win and place bet) on a horse at 10/1 odds in a race where the bookmaker pays 1/5 odds for a top-three finish.
If your horse wins:
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Win bet: £10 × (10/1) = £100, plus your £10 stake back = £110
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Place bet: £10 × (10/1) × (1/5) = £20, plus your £10 stake back = £30
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Total return = £110 + £30 = £140
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Total Profit = £140 – £20 stake = £120
If the horse places (but does not win):
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Win bet loses.
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Place bet pays: £10 × (10/1) × (1/5) = £20, plus your £10 stake back = £30
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Total return = £30
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Total Profit = £30 – £20 stake = £10
If the horse does not finish in a paying position:
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You lose your full £20 stake.
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