What is an each-way bet?
An each-way bet is two bets of the same stake: one on your selection to win and one on it to place. A £5 each-way bet costs £10.
- If it wins, both parts pay out: the win part at full odds and the place part at a fraction of the odds.
- If it places but doesn't win, only the place part pays.
- If it finishes outside the places, both parts lose.
Worked example
£5 each way at 10/1 with 1/5 the odds for a place:
- Wins: win part £5 × 11.0 = £55, plus place part £5 × 3.0 = £15. Total return £70 (£60 profit).
- Places: place part only, £15 (£5 profit).
- Loses: nothing returned.
Place odds are worked out from the win odds: 10/1 at 1/5 the odds is 2/1 for the place.
Typical place terms in UK horse racing
| Race | Runners | Places | Fraction |
|---|---|---|---|
| Any | 2–4 | Win only | – |
| Any | 5–7 | 1st, 2nd | 1/4 |
| Non-handicap | 8 or more | 1st, 2nd, 3rd | 1/5 |
| Handicap | 12–15 | 1st, 2nd, 3rd | 1/4 |
| Handicap | 16 or more | 1st to 4th | 1/4 |
These are the standard terms. Many bookmakers pay extra places on big races, so check the terms on your bet slip. Extra places promotions pay the place part on more finishing positions.
Rule 4 and non-runners
If a horse is withdrawn after you've taken a price, a Rule 4 deduction may reduce your winnings by a set number of pence in the pound. The deduction depends on the withdrawn horse's odds. Enter it to see the effect; it's applied to winnings, not your stake. If your own selection is a non-runner, both stakes are normally returned.
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