How to Use the Each Way Bet Calculator
Our each way bet calculator makes it simple to work out your potential returns. Follow these easy steps:
- Enter Your Stake: Input the amount you want to bet in pounds. Remember, each way bets cost double this amount as you're placing two bets.
- Choose Odds Format: Toggle between fractional (e.g., 12/1) or decimal odds (e.g., 13.0) depending on your preference.
- Enter the Odds: Input the odds for your selection as displayed by your bookmaker.
- Select Place Terms: Choose the place terms offered (usually 1/4 or 1/5 of the win odds).
- Set Number of Places: Select how many finishing positions are being paid out.
- Choose Outcome: Select whether your bet won, placed only, or lost completely.
- Calculate: Click the calculate button to see your total return and profit or loss.
What is an Each Way Bet?
An each way bet is essentially two separate bets combined into one: a bet on your selection to win, and a bet on your selection to place (finish in one of the top positions). This popular betting option gives you two chances to win, though you pay double the stake.
The win part of the bet pays out at full odds if your selection wins the event. The place part pays out at a fraction of the odds (typically 1/4 or 1/5) if your selection finishes in one of the specified places. If your selection wins, both parts of the bet pay out. If it only places, you win the place part but lose the win part.
Each way betting is most commonly used in horse racing, golf tournaments, and other competitions where multiple finishing positions are rewarded. It's particularly popular for outsiders with longer odds, as it provides a safety net if your selection performs well but doesn't quite win.
Example: Each Way Bet Explained
Example: £10 each way on a horse at 12/1 odds, with 1/4 odds for places 1-3.
Win Odds: 12/1
Place Odds: 3/1 (12/1 × 1/4)
If the horse wins:
• Win bet: £10 × 12 = £120 + £10 stake = £130
• Place bet: £10 × 3 = £30 + £10 stake = £40
• Total return: £170
• Profit: £150
If the horse places 2nd or 3rd:
• Win bet: Lost (-£10)
• Place bet: £10 × 3 = £30 + £10 stake = £40
• Total return: £40
• Loss: -£20 (break even on place bet, lose win bet)
If the horse finishes 4th or worse:
• Both bets lost
• Total return: £0
• Loss: -£20
Frequently Asked Questions
An each way bet is two bets in one: a win bet and a place bet. You pay double your stake. If your selection wins, both parts of the bet pay out. If it only places, you win the place part but lose the win part. The place part typically pays at 1/4 or 1/5 of the win odds.
Each way returns are calculated by multiplying your stake by the odds for the win part, and by the place terms (e.g., 1/4 odds) for the place part. If your selection wins, you receive both payouts. If it only places, you receive just the place payout minus the lost win stake.
Each way betting is most common in horse racing and golf, but is also available for greyhound racing, motor racing (Formula 1, MotoGP), and some football markets like top goalscorer bets. The availability depends on the number of competitors and whether multiple finishing positions are meaningful.
Place terms determine what fraction of the win odds you receive for the place part of your bet. Common terms are 1/4 odds (you get 25% of the win odds) or 1/5 odds (20% of the win odds). These terms are set by bookmakers and vary depending on the number of runners and the type of event.
Each way bets are most valuable when backing selections with longer odds (typically 8/1 or higher) in competitive fields. They're particularly useful in horse racing when you fancy an outsider that might not win but could place, or in golf tournaments where your player might contend but not win outright.