Each-Way Calculator
An each-way bet is two bets: one on the selection winning, one on it finishing in the places. Enter your stake, odds and place terms to see what each half returns — and the odds above which the place part alone covers the whole bet.
An each-way bet stakes this amount twice, so a £10.00 each-way bet costs £20.00.
Type 5/1 or 6.00 — both work. Place odds: 2.00.
The place part is settled at 1/5 of the win odds. Terms are printed on the betting slip and vary by event and field size.
Part-by-Part Breakdown
| Part | Odds | Stake | Return |
|---|---|---|---|
| Win part | 6.00 | £10.00 | £0.00 |
| Place part | 2.00 | £10.00 | £20.00 |
Your Results
At 1/5 terms, a selection that only places returns the full outlay at 6.00 and loses money below it. Your selection placing only would return £0.00 profit.
How an Each-Way Bet Is Settled
An each-way bet is two equal stakes, not one. The first backs the selection to win at the odds you took; the second backs it to finish inside the places, settled at a fraction of those odds. A £10 each-way bet therefore takes £20 out of your account, and the slip shows the fraction and the number of places that apply.
Take £10 each-way at 6.00 (5/1) with 1/5 place terms. The place odds are 1 + (6.00 − 1) × 0.2 = 2.00.
| Result | Win Part | Place Part | Profit on £20 |
|---|---|---|---|
| Wins | £60.00 | £20.00 | +£60.00 |
| Places only | £0.00 | £20.00 | £0.00 |
| Unplaced | £0.00 | £0.00 | −£20.00 |
Five to one at fifth-odds is the exact point where placing gets your money back and nothing more. That threshold is the single most useful number on this page, and it depends only on the fraction: the place part returns the whole outlay at odds of 1 + 1/f, which is 3.00 at 1/2 terms, 4.00 at 1/3, 5.00 at 1/4 and 6.00 at 1/5. Below it, a placed selection still loses money; above it, the place part alone shows a profit and the win part becomes a bonus.
Typical Place Terms in the UK
| Event | Terms | Places | Place-Only Break-Even |
|---|---|---|---|
| Handicap, 16+ runners | 1/4 odds | 1, 2, 3, 4 | 4/1 (5.00) |
| Non-handicap, 8+ runners | 1/5 odds | 1, 2, 3 | 5/1 (6.00) |
| 5-7 runners | 1/4 odds | 1, 2 | 4/1 (5.00) |
| Football / outrights | 1/2 odds | 1, 2 | 2/1 (3.00) |
These are the industry defaults rather than a promise: bookmakers advertise extra places on big handicaps and cut terms on small fields, and the slip always wins the argument. To see how much margin is priced into the market you are betting into, use the Bookmaker Margin Calculator; to convert the fractional prices on a racecard into decimals, use the Odds Converter.
Each-Way Multiples
Each-way applies to multiples too, and it doubles the line count: an each-way Lucky 15 is 30 bets, not 15, and an each-way Trixie is 8. The place half of a multiple is settled by combining the place odds of every leg, so a single unplaced selection kills it. The Bet Calculator handles each-way across all 19 bet types.
Frequently Asked Questions
How much does a £10 each-way bet cost?
£20. The stake you enter is placed twice: once on the win and once on the place. This is the most common misunderstanding about each-way betting, and it is why a £10 each-way bet needs a bigger result than a £10 win single to break even.
What odds do I need for the place part to cover the whole bet?
Odds of 1 + 1/f in decimal, where f is the place fraction: 3.00 (2/1) at 1/2 terms, 4.00 (3/1) at 1/3, 5.00 (4/1) at 1/4 and 6.00 (5/1) at 1/5. At exactly that price a placed selection returns your outlay and nothing more; below it, placing still leaves you out of pocket.
How are each-way place odds calculated?
The fraction applies to the profit, not to the whole price. At decimal odds of 6.00 the profit part is 5.00; at 1/5 terms the place part pays 5.00 × 0.2 = 1.00 profit, so the place odds are 2.00. Applying the fraction to 6.00 directly would give 1.20 and understate the return.
What happens to an each-way bet if my selection is a non-runner?
Both halves are voided and the full outlay is returned. In UK horse racing a non-runner can also trigger a Rule 4 deduction on the remaining runners and can reduce the number of places offered, so the terms you took are not always the terms you are settled at.
Is each-way better than a win single?
Neither is better in the abstract; they buy different things. For the same total outlay, an each-way bet trades some of the winning return for a payout when the selection only places. It is worth more the longer the price and the more generous the terms, and worth less at short prices, where the place part often cannot recover its own stake.
An each-way bet costs twice the stake shown on the slip — budget for the full outlay before you place it and never chase losses. 18+. If gambling stops being fun, see our responsible gambling resources.