Each-Way Calculator
An each-way bet is two bets in one: a win bet and a place bet. Your stake is doubled because you are effectively backing your horse twice. Use this calculator to work out exactly what your each-way bet returns depending on whether it wins, places, or loses. Supports configurable place terms and Rule 4 deductions.
Enter Your Each-Way Bet
This is your stake for each part. Total outlay is double this amount.
Enter fractional odds, e.g. 5 / 1, 9 / 4, 11 / 8
Your Returns
Enter your each-way bet details and hit Calculate to see your potential returns broken down by win and place parts.
How Each-Way Betting Works
Each-way betting is one of the most popular bet types in horse racing, and for good reason. It gives you two chances to collect: once if your horse wins, and once if it finishes in the places. But it is also one of the most misunderstood bet types, so let us break it down properly.
The Basics
An each-way bet is two separate bets rolled into one. The first is a win bet at the full odds. The second is a place bet at a fraction of those odds. Because it is two bets, your total stake is always double what you enter. So a £10 each-way bet costs £20 in total: £10 on the win and £10 on the place.
Place Terms
The place fraction and number of paying places vary depending on the race and the bookmaker. The standard terms for most handicap races are 1/4 of the odds for the first three places. In large-field handicaps (16+ runners), bookmakers often pay four places. Some firms offer enhanced each-way terms as promotions, paying five or even six places, or offering 1/4 the odds rather than 1/5. Always check the terms before placing your bet.
Worked Example
Suppose you place a £10 each-way bet on a horse at 8/1, with place terms of 1/4 the odds for three places.
Your total stake is £20 (£10 win + £10 place).
The win odds in decimal are 9.0 (that is 8/1 + 1). The place odds are 3.0 (that is (9.0 - 1) × 0.25 + 1 = 3.0).
If the horse wins: Win part returns £10 × 9.0 = £90.00. Place part returns £10 × 3.0 = £30.00. Total returns = £120.00. Profit = £120.00 - £20.00 = £100.00.
If the horse places (2nd or 3rd): Win part returns nothing. Place part returns £10 × 3.0 = £30.00. Total returns = £30.00. Profit = £30.00 - £20.00 = £10.00.
If the horse loses: Both parts lose. Total returns = £0.00. Loss = £20.00.
When to Use Each-Way Bets
Each-way betting tends to offer the best value on horses at bigger prices. On a short-priced favourite at 2/1, the place part returns very little and you are effectively paying double for minimal insurance. But on a 10/1 or 12/1 shot, the place part can return a decent amount even if the horse does not win. As a general rule of thumb, each-way betting starts to make sense at odds of around 5/1 and above, particularly in competitive handicaps with plenty of runners.
Rule 4 and Each-Way Bets
When a Rule 4 deduction applies, it affects both the win and place parts of your each-way bet. The deduction is applied to the profit portion of the odds (the decimal odds minus 1), not to the entire return. This calculator handles Rule 4 deductions automatically, so you can see exactly how a non-runner impacts your potential returns.