- Fact-checked by Josh Miller
- Edited by Diana Westfield
What does each way mean in betting? It’s two bets wrapped into one: a bet on your horse to win and an equal bet on it to place, usually finish in the first two, three or four. A “£5 each way” bet costs £10, £5 on each part. If the horse wins, both bets pay. If it only places, you lose the win half and get paid on the place half at a fraction of the odds. The free CasinoCalcs each way calculator settles any each way bet; here’s how it works by hand.
What does each way mean in betting? A £5 example
You back Silver Sixpence at 10/1, £5 each way, in a 12-runner race paying three places at 1/5 the odds. The ticket costs £10.
If it wins, the win part pays 10/1: £50 profit plus the £5 stake back. The place part pays at a fifth of 10/1, which is 2/1: £10 profit plus £5 back. Total return £70 on a £10 bet.
If it finishes third, the win part loses. The place part still pays 2/1, so you get £15 back. You’re £5 up on a horse that didn’t win, which is the whole appeal.
If it finishes fourth, both parts lose and you’re £10 down.
Each way terms in UK racing
| Race | Places paid | Fraction |
|---|---|---|
| 2 to 4 runners | Win only | – |
| 5 to 7 runners | 2 | 1/4 |
| 8+ runners (non-handicap) | 3 | 1/5 |
| Handicap, 12 to 15 runners | 3 | 1/4 |
| Handicap, 16+ runners | 4 | 1/4 |
Bookmakers often pay extra places on big races, five, six or more in the Grand National, which makes each way better value on those days. Non-runners can change the terms: if an 8-runner field drops to 7, it becomes two places. The Rule 4 calculator handles the deduction that comes with a late withdrawal.
When each way is worth it
The place part only makes sense when it can cover the stake. At 10/1 with 1/5 terms the place part pays 2/1, so a placed horse more than covers the £10. At 3/1 with 1/5 terms it pays 3/5, so a placed favourite returns £8 on £10 and you lose money despite “getting a place”. That’s why each way is mostly a bet for bigger prices and bigger fields, and a poor one on favourites.
Golf, darts and other outright markets use each way too, with their own places and fractions. The golf each way calculator covers ties for a place. For several horses in one bet, see full cover bets explained, and for value hunting on extra places, the extra place calculator.
Two bets cost twice as much. BeGambleAware.org has free support if betting’s no longer fun.