Each way betting is a popular strategy that offers a safety net while maintaining upside potential. Here's everything you need to know.
How Each Way Betting Works
When you place an each way bet, you're actually placing two bets: one for your selection to win, and one for it to place. The place bet pays out at a fraction of the win odds (typically 1/4 or 1/5). The total cost is double your unit stake. If your selection wins, both bets pay out. If it only places (finishes in the specified positions but doesn't win), only the place bet pays out.
Benefits of Each Way Betting
Reduced risk: You can still profit even if your selection doesn't win
Good for longshots: Higher odds selections benefit more from each way coverage
Psychological comfort: Less stressful than all-or-nothing win bets
Practical Considerations
Check place terms before betting - they vary significantly between bookmakers and events
Calculate break-even: For favorites, the place return might not cover your total stake
Compare value: Sometimes a straight win bet offers better expected value than each way
Common Each Way Mistakes
Backing short-priced favorites each way — at odds below 4/1, the place part rarely covers the total stake if the selection doesn't win
Ignoring the number of places paid — a 5-runner race paying 2 places is very different from a 20-runner handicap paying 4 places; more places paid means more chance of a return
Forgetting that each way doubles your stake — a $10 each way bet costs $20 total; manage your bankroll accordingly
Each Way Bet Examples
Horse Wins: Full Return
You place a $10 each way bet (total $20) on a horse at 8/1 with 1/4 place terms. Your win part returns $10 × 8 + $10 = $90. Your place part returns $10 × (8 ÷ 4) + $10 = $30. Total return: $120 for a $100 profit on a $20 stake. Each way amplifies returns on longshots because you collect on both the win and place portions.
Horse Places But Doesn't Win
Same bet: $10 each way at 8/1, 1/4 place terms. The horse finishes 3rd. Your win part loses ($10 gone). Your place part returns $10 × (8 ÷ 4) + $10 = $30. Net result: $30 return on $20 stake = $10 profit. This is why each way bets are popular for longshots — you profit even without winning outright.
Bet Profit Calculator.
Short-Price Each Way: Why It Rarely Works
You back a 2/1 favorite each way for $10 ($20 total). Win: $10 × 2 + $10 = $30 (win part) + $10 × 0.5 + $10 = $15 (place part) = $45 total, $25 profit. Place only: $15 return on $20 stake = $5 loss. At short prices, the place-only scenario often produces a net loss — each way is designed for selections at 5/1 or higher.
Odds Converter.
1/4 odds means that the place portion of your bet will be paid at one quarter of the win odds. For example, if the win odds are 5.00, the place odds would be calculated as ((5.00 - 1) / 4) + 1 = 2.00. The 1/5 odds work the same way but divide by 5 instead of 4.
An each way bet costs double your stated stake because you're placing two separate bets. A $10 each way bet costs $20 total: $10 on the win and $10 on the place. This is important to remember when managing your bankroll.
Each way bets are most valuable for selections with higher odds (typically 5.00+) in competitive fields. They're particularly popular in horse racing and golf. For heavy favorites (odds below 3.00), the place return often doesn't justify the extra stake. Use our calculator to compare scenarios and decide which bet type offers better value for your selection.
