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Each-way calculator

What an each-way bet returns if it wins, places or loses, at any place terms.

The stake is
If it wins72.50profit +62.50
Total stake10.00
Place odds3.50
If itReturnsProfit
Wins72.50+62.50
Places only17.50+7.50
Loses0.00−10.00
What is the real chance of a place?

Each-way is worth it when the place price beats the real chance. BAI8 gives you a researched probability for the outcome you are backing.

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How it works

An each-way bet is two bets of the same stake: one to win and one to place. The place part is settled at a fraction of the odds, usually 1/4 or 1/5. If your selection wins, both parts pay; if it only places, the place part pays and the win part loses; otherwise both lose. The bet costs twice the stake per part.

A Rule 4 deduction, made when a runner is withdrawn late, takes a share of the winnings of both parts and leaves the stakes alone.

The formula

  • Total stake = 2 × stake per part
  • Place odds = 1 + (decimal odds − 1) × place terms
  • If it wins: stake × decimal odds + stake × place odds
  • If it only places: stake × place odds

A worked football example

Back a team to win the league each-way at 11.00, with place terms of 1/4 for the top two and 5.00 each way (10.00 in all). The place odds are 3.50. If they win the title the bet returns 72.50. If they finish second it returns 17.50, a profit of 7.50.

What it does not tell you

It shows what the bet pays, not whether the place terms are generous. An each-way bet is only good value when the place part’s odds are longer than the real chance of a place deserves, which depends on the field and on how many places are paid.

Common questions

How does an each-way bet work?

It is a win bet and a place bet of the same stake, so 5 each-way costs 10. If the selection wins you are paid on both parts; if it only places you are paid on the place part, at a fraction of the odds.

What are each-way place terms?

The fraction of the win odds the place part is paid at, and how many places count. A quarter of the odds for three places at 10/1 pays the place part at 10/4, or 3.50 in decimal.

Can I lose money on an each-way bet that places?

Yes, when the place odds are under 2.00. At 5/1 with 1/4 terms the place odds are 2.25, so 10 each-way costs 20 and returns 22.50 if it only places. At 3/1 the place odds are 1.75 and it returns 17.50.

How does Rule 4 affect an each-way bet?

The deduction comes off the winnings of both parts, never the stakes. A 20p deduction on a 5/1 winner turns 5 of profit per unit staked into 4.

Is each-way the same as a place bet?

No. A place-only bet has no win part. Each-way always includes the win bet, so it costs twice the stake and pays both parts on a winner.

Read more

Each way betting explained: how an each way bet paysBlogDead heat rules in betting, with the mathsBlogSystem bets explained: Trixie, Patent, Yankee and moreBlogEach-wayGlossaryDead heatGlossarySystem bet (Yankee, Lucky 15)Glossary

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