// UK · Calculator
Each-Way Calculator: Work Out Win and Place Returns
Calculate the win and place returns of any each-way bet at any place terms, with standard UK racing terms and a worked example.
An each-way bet is really two bets: half your stake on the horse to win, half on it to finish in the places. This each-way calculator works out what you get back if your selection wins, places or loses. It handles whatever place terms your bookmaker is offering.
How each-way returns are calculated
Work in decimal odds, or convert fractional odds by adding 1 (10/1 becomes 11.0).
- Win part: unit stake × decimal odds
- Place odds: (fractional odds × place fraction) + 1
- Place part: unit stake × place odds
If the selection wins, both parts pay out. If it places without winning, only the place part pays and the win stake is lost. If it finishes outside the places, both stakes are lost.
Worked example: £5 each-way at 10/1
You back a horse £5 each-way at 10/1 in a 10-runner non-handicap, paying 1/5 odds for three places. Total stake: £10.
- Place odds: 10 × 1/5 = 2/1, or 3.0 decimal
- Wins: win part £5 × 11 = £55, plus place part £5 × 3 = £15. Total return £70, profit £60.
- Finishes second or third: place part returns £15. Profit £5.
- Unplaced: you lose the full £10.
Swap that for a 3/1 shot under the same terms and the place part pays just 3/5, so £5 returns £8 on the place. Placing would leave you £2 down on the bet overall. That is why each-way betting suits bigger prices.
Standard each-way place terms
| Race type and runners | Places paid | Fraction of odds |
|---|---|---|
| 2 to 4 runners | Win only | – |
| 5 to 7 runners | 2 | 1/4 |
| 8 or more runners (non-handicap) | 3 | 1/5 |
| Handicap, 12 to 15 runners | 3 | 1/4 |
| Handicap, 16 or more runners | 4 | 1/4 |
These are the standard terms most UK bookmakers use. On big meetings such as Cheltenham, Royal Ascot and the Grand National, many firms pay extra places, which changes the maths in your favour. Always check the terms shown on the bet slip.
When to use an each-way calculator
- Before backing a big-priced runner in a competitive field, to see whether a place alone covers your outlay.
- When comparing extra-place offers between bookmakers. Our guide to UK horse racing betting sites covers which firms focus on racing.
- For golf outrights, where each-way terms often pay five to ten places at 1/5 odds.
- Inside multiples. Each-way doubles and Lucky 15s split into win and place lines. Our Lucky 15 calculator handles the full bet.
- When testing a racing model. Our guide to horse racing AI tools explains how Timeform, Proform and others rate runners.
UK betting sites for racing
Bet365
Best all-round bookmakerBet £10 Get £30
New Bet365 Customers Only. Min deposit requirement. Free Bets are paid as Bet Credits and are available for use upon settlement of bets to value of qualifying deposit. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Registration Required. The bonus code 365GMBLR can be used during registration but does not change the offer amount in any way. Time limits and T&Cs apply. #AD
Betfred
Biggest welcome offerBet £10 Get £50
New customers only. Register, deposit with Debit Card, and place first bet £10+ at Evens (2.0)+ on Sports within 7 days to get 3 x £10 in Sports Free Bets & 2 x £10 in Acca Free Bets within 10 hours of settlement. 7-day expiry. Eligibility & payment exclusions apply. Full T&Cs apply.
Ladbrokes
Lowest qualifying stakeBet £5 Get £30
- Min odds
- 1/2
New UK+ROI Customers only. Certain deposit methods & bet types excl. Min first £5 bet within 14 days of account reg at min odds 1/2 to get 6 x £5 free bets (selected sportsbook markets only, valid 7 days, stake not returned). Restrictions + T&Cs apply.
Each-way mistakes to avoid
- Backing short-priced favourites each-way. At 2/1 with 1/5 odds, the place part pays 2/5, so a placed horse still loses money on the bet overall.
- Ignoring the field size. A late non-runner can cut an eight-runner race to seven, dropping the third place. Check terms at the off.
- Missing extra-place offers. An extra place on a big handicap can be worth more than a slightly better win price elsewhere.
See all our free betting calculators, or head to the best UK betting sites.
18+ only. Bookmakers are licensed by the Gambling Commission. For free, confidential support visit GambleAware.org.
FAQ
How does an each-way bet work?
An each-way bet is two equal bets: one on the selection to win and one on it to place. A £5 each-way bet costs £10. If it wins, both parts pay out; if it only places, the place part pays at a fraction of the odds, usually 1/4 or 1/5.
How many places are paid in an each-way bet?
Standard terms are two places at 1/4 odds for 5 to 7 runners, and three places at 1/5 odds for 8 or more runners. Handicaps of 12 to 15 runners pay three places at 1/4 odds, and handicaps of 16 or more pay four places at 1/4 odds. Many bookmakers offer extra places on big races.
Is each-way betting worth it?
It suits selections at bigger prices in competitive fields, where a place is a realistic outcome. On short-priced favourites, the place part often returns less than its stake, so a win-only bet is usually better value.
What happens to an each-way bet if there is a non-runner?
If a non-runner reduces the field below a threshold, the place terms can change, for example from three places to two. A Rule 4 deduction may also reduce winnings if the withdrawn horse was priced short. Check your bookmaker's racing rules.