What Is an Each-Way Bet?
An each-way bet combines two separate bets on the same selection: a win bet and a place bet. Because you are betting on both outcomes, the total amount staked is normally twice your selected each-way stake.
For example, a $10 each-way bet normally means $10 is placed on the selection to win and another $10 is placed on it to place. The total stake is therefore $20.
How Does Each-Way Betting Work?
The win portion uses the full advertised decimal odds. The place portion uses reduced odds based on the bookmaker's each-way terms.
Place odds = (Win odds − 1) × Each-way fraction + 1
For example, at 6.00 decimal odds with 1/4 place terms, the net win odds are 5.00. One quarter of those odds is 1.25, giving place decimal odds of 2.25.
Each-Way Betting Example
Suppose you stake $10 each way at decimal odds of 6.00 with 1/4 place terms.
Win odds
6.00
Each-way stake
$10
Total stake
$20
If the selection wins, both the win and place portions pay. If it only places, the win portion loses while the place portion pays. If it finishes outside the applicable places, both portions lose.
What Happens If Your Selection Only Places?
When a selection places without winning, the win portion of the each-way bet loses. The place portion is settled using the reduced place odds specified by the bookmaker.
Whether the place return produces an overall profit depends on the stake, the original odds and the each-way fraction.
Each-Way Terms Matter
Different bookmakers and markets can have different each-way fractions and numbers of places. A 1/4 place fraction produces different returns from a 1/5 fraction.
Always check the specific bookmaker's terms for the market you are betting on. This calculator uses the place fraction you enter.
Each-Way Calculator FAQ
What is an each-way bet?
It combines a win bet and a place bet on the same selection. The two parts normally require twice the selected stake.
Does $10 each way mean a $20 bet?
Yes. Normally $10 is placed on the win and $10 on the place, giving a total stake of $20.
What if my selection only places?
The win portion loses while the place portion is paid at the applicable reduced place odds.
What is the each-way fraction?
It determines the reduced odds used for the place portion. For example, 0.25 represents 1/4 place terms.