Free each-way bet calculator
An each-way (E/W) bet is two bets of equal stake: one on your selection to win, one on it to place — finish inside the number of places the bookmaker is paying. "£10 each-way" therefore costs £20. Enter the stake, the win odds in decimal or fractional form, the place terms (1/2, 1/3, 1/4 or 1/5 of the odds) and the outcome, and the calculator shows the return on each leg, the total and the profit. Add a Rule 4 deduction if a runner was withdrawn after you placed the bet.
How each-way returns are calculated
- Win leg: stake × win odds, paid only if the selection wins.
- Place odds: (win odds − 1) × the place fraction, + 1. At 1/4 odds, 7/1 (8.00) becomes 2.75; at 1/5 odds, 10/1 (11.00) becomes 3.00.
- Place leg: stake × place odds, paid if the selection wins or places.
- Winner: both legs pay. Placed only: the win leg is lost, the place leg pays. Unplaced: both legs lose. Non-runner: both stakes are refunded.
Worked examples
£10 each-way at 7/1 (8.00), place terms 1/4 odds (£20 staked). Place odds are 2.75. If it wins, the win leg returns £80 and the place leg £27.50: £107.50 back, £87.50 profit. If it only places, you collect £27.50 for a profit of £7.50 on the £20.
£10 each-way at 10/1 (11.00), place terms 1/5 odds. Place odds are 3.00. A winner returns £140 (£120 profit); a place returns £30 (£10 profit).
With a Rule 4 of 20p on the first example, the win odds drop to 6.60 and the place odds to 2.40, so a winner returns £90 instead of £107.50.
When does the place leg alone make a profit?
Only when the place odds are longer than evens, which at 1/4 terms means win odds above 4/1 (5.00) and at 1/5 terms above 5/1 (6.00). Below those prices a placed selection still loses money overall, because the lost win stake is bigger than the place profit. That is why each-way is a bet for bigger prices and big fields, not for favourites — on a short price you are better off backing it to win.
Standard each-way place terms
Bookmakers set the place fraction and the number of places by the type of race and the size of the field. These are the standard UK horse-racing terms; individual firms offer extra places on big handicaps and festivals, and the terms are always printed on the market.
| Field | Place terms | Places paid |
|---|---|---|
| Handicaps, 16 or more runners | 1/4 odds | 4 places |
| Handicaps, 12 to 15 runners | 1/4 odds | 3 places |
| 8 or more runners (incl. handicaps of 8 to 11) | 1/5 odds | 3 places |
| 5 to 7 runners | 1/4 odds | 2 places |
| 2 to 4 runners | Win only | No place bet |
In golf each-way terms are usually 1/4 or 1/5 odds for five to eight places, sometimes more at the majors. In football outrights — league winner, top scorer, tournament winner — terms vary by bookmaker and are typically 1/2 or 1/3 odds for two or three places; check the market before you calculate. Each-way doubles and trebles multiply the win legs together and the place legs together as two separate accumulators — use the accumulator calculator for those.
Each-way returns table: £10 each-way (£20 staked)
Total returns, stake included, for a £10 each-way bet at the common prices. "Won" pays both legs; "Placed" pays the place leg only. For any other stake, scale the figures; for any other price or terms, use the calculator above.
| Win odds | Place odds (1/4) | Won (1/4) | Placed (1/4) | Place odds (1/5) | Won (1/5) | Placed (1/5) |
|---|---|---|---|---|---|---|
| 2/1 (3.00) | 1.50 | £45 | £15 | 1.40 | £44 | £14 |
| 3/1 (4.00) | 1.75 | £57.50 | £17.50 | 1.60 | £56 | £16 |
| 4/1 (5.00) | 2.00 | £70 | £20 | 1.80 | £68 | £18 |
| 5/1 (6.00) | 2.25 | £82.50 | £22.50 | 2.00 | £80 | £20 |
| 6/1 (7.00) | 2.50 | £95 | £25 | 2.20 | £92 | £22 |
| 7/1 (8.00) | 2.75 | £107.50 | £27.50 | 2.40 | £104 | £24 |
| 8/1 (9.00) | 3.00 | £120 | £30 | 2.60 | £116 | £26 |
| 10/1 (11.00) | 3.50 | £145 | £35 | 3.00 | £140 | £30 |
| 12/1 (13.00) | 4.00 | £170 | £40 | 3.40 | £164 | £34 |
| 14/1 (15.00) | 4.50 | £195 | £45 | 3.80 | £188 | £38 |
| 16/1 (17.00) | 5.00 | £220 | £50 | 4.20 | £212 | £42 |
| 20/1 (21.00) | 6.00 | £270 | £60 | 5.00 | £260 | £50 |
| 25/1 (26.00) | 7.25 | £332.50 | £72.50 | 6.00 | £320 | £60 |
| 33/1 (34.00) | 9.25 | £432.50 | £92.50 | 7.60 | £416 | £76 |
| 50/1 (51.00) | 13.50 | £645 | £135 | 11.00 | £620 | £110 |
Rule 4 deductions
Rule 4 applies when a horse is withdrawn after you have placed a bet at a fixed price. Because the remaining runners now have a better chance, bookmakers deduct a set amount from your winnings (never your stake) according to the price of the withdrawn horse at the time it came out. The calculator applies the deduction to both the win and the place leg: a 20p deduction turns 7/1 (8.00) into 6.60. Bets taken at starting price are not affected, because the SP already reflects the smaller field.
| Odds of the withdrawn runner | Deduction from winnings |
|---|---|
| 1/9 or shorter | 90p in the £ |
| 2/11 to 2/17 | 85p in the £ |
| 1/4 to 1/5 | 80p in the £ |
| 3/10 to 2/7 | 75p in the £ |
| 2/5 to 1/3 | 70p in the £ |
| 8/15 to 4/9 | 65p in the £ |
| 8/13 to 4/7 | 60p in the £ |
| 4/5 to 4/6 | 55p in the £ |
| 20/21 to 5/6 | 50p in the £ |
| Evens to 6/5 | 45p in the £ |
| 5/4 to 6/4 | 40p in the £ |
| 13/8 to 7/4 | 35p in the £ |
| 15/8 to 9/4 | 30p in the £ |
| 5/2 to 3/1 | 25p in the £ |
| 10/3 to 4/1 | 20p in the £ |
| 9/2 to 11/2 | 15p in the £ |
| 6/1 to 9/1 | 10p in the £ |
| 10/1 to 14/1 | 5p in the £ |
| Longer than 14/1 | No deduction |
If more than one runner is withdrawn, the deductions are added together, up to a maximum of 90p in the pound. Pick the nearest band in the calculator's Rule 4 selector to see the adjusted return.
Dead heats and non-runners
If your selection dead-heats for a place, the place stake is divided by the number of runners sharing that position before the odds are applied, so a two-way dead heat pays half the place stake at full place odds. A non-runner voids both legs and your full stake is returned. Straight win bets are covered by the bet calculator, and prices can be switched between formats with the odds converter.