Each Way Calculator

Common questions

What is an each-way bet?

Two bets of equal size on one selection: one that it wins outright at full odds, and one that it finishes in a paying place at a fraction of those odds. That is why a '£10 each way' costs £20 — people routinely underestimate the outlay by half.

How much does a £10 each-way bet cost?

£20. The stake you name is per part, and there are two parts. A £5 each way is £10, a £25 each way is £50, and so on.

Do you win money if your selection places?

Not always, and this is the trap. The place half pays the win odds multiplied by the place fraction, so at 1/5 terms a 2/1 shot returns 1.4 times the place stake — £14 against the £20 you staked, a £6 loss on a bet that most people would call a result. Placing pays something back; it does not automatically pay a profit.

What odds do I need for the place part alone to break even?

The place half covers both stakes once the win odds reach 1 + 1/fraction in decimal. At 1/5 terms that is 6.0, or +500 in American odds — 5/1. At 1/4 terms it is +400, at 1/3 it is +300, and at 1/2 it is +200. Below those prices a place-only finish is a loss no matter how well the selection ran.

What are place terms and how many places are paid?

Place terms are the fraction of the win odds the place half is paid at — commonly 1/4 or 1/5 — and the number of places is how many finishing positions count, which varies with field size and event. The fraction determines what you are paid; the number of places determines how likely you are to be paid at all. This calculator handles the fraction, since that is the part that decides the money.

Is each way better than a straight win bet?

It is a different bet, not a better one. For the same total outlay you could back the win at double the stake. Each way trades some of that upside for a partial return when the selection runs well without winning — worth it at longer prices where the place half stands on its own, and poor value at short prices where it cannot.