Each-Way Calculator
Find exactly what your each-way bet pays back whether your selection wins, places, or finishes outside the places.
Enter your stake, odds, place terms and number of places to see all three outcomes.
This calculation is a guide only. Place terms (the odds fraction and the number of paid places) vary between bookmakers and races — always check the terms with the operator before staking.
Each-way is a common bet type in horse racing and golf with international bookmakers: you're really placing two bets in one — one on your selection to win outright, and one on it to finish in the places. This calculator shows you exactly what each outcome pays back.
How the each-way calculator works
An each-way bet splits into two equal parts: a win part that only pays if your selection finishes first, and a place part that pays if it finishes inside the paid places — but at a fraction of the win odds, usually 1/4 or 1/5. Your total stake is therefore always double the amount you enter per part.
Total stake = 2 × unit stake. Place odds = 1 + (odds − 1) × fraction. Win return = unit stake × odds + unit stake × place odds.
If your selection wins, both parts pay out — you get both the win part and the place part. If it places without winning, only the place part pays, at the place odds. If it finishes outside the places, you lose the whole stake, same as an ordinary bet.
Worked example
Say you stake 10 each-way on a horse at odds of 6.00, with 1/4 odds place terms and three places paid. Your total outlay is 20 (10 on the win part plus 10 on the place part).
The place odds come to 1 + (6.00 − 1) × 0.25 = 2.25. If the horse wins, you get 10 × 6.00 + 10 × 2.25 = 82.50 in total, a profit of 62.50. If it places without winning, you only get the place part's 10 × 2.25 = 22.50, still a profit of 2.50 despite the horse not winning. If it finishes outside the places, you lose the full 20 stake.
Frequently asked questions
What does each-way mean in betting?
Each-way is a bet split into two equal parts — a win part that requires your selection to finish first, and a place part that pays if it finishes inside the paid places, at a fraction of the win odds. You're effectively backing both the outright win and a top finish in one bet.
What's the difference between 1/4 and 1/5 odds?
The fraction decides how much of the win odds the place part pays out. At 1/4 odds, the place part gets a quarter of (odds − 1) added to 1; at 1/5 odds, only a fifth — so a smaller fraction means a smaller place return. The bookmaker sets which fraction and how many places apply based on the size of the race.
Can I make a profit even if my selection doesn't win?
Yes. If your selection finishes inside the paid places without winning, the place part pays out at the place odds. If the place odds are high enough, that payout alone can cover your whole total stake and even leave a small profit, even though the win part of the bet loses.
