Each Way Bet Calculator ?

An Each Way bet is essentially split into 2 bets. The first part of the bet is a WIN bet on your selection, and the second is that they will PLACE, the place bet will vary per race or event, but it will generally be to finish in the top 4 or 5.

When you place an Each Way bet your stake is doubled; so a £5 Each Way bet would require a £10 stake. £5 will go on the win portion and £5 on the place portion.
The place portion of the bet will be represented using a fraction of the winning odds. So for instance, if the each way fraction is 1/5 and the winning odds are 10/1 and you place a £5 each way bet, then your win portion has potential returns of £55 (£50 + £5) and the place portion potential returns of £15 (£10 + £5). If your selection wins you will receive both these returns if they place then you will only receive the second returns for that portion of the bet.

The main advantage of an Each Way bet is that it increases your chance of a win. If the odds are long already then the potential returns if your selection places may still be attractive.
On the downside Each Way bets require a greater initial stake as your stake is essentially doubled and if your selection already has low odds then the returns may be significantly less attractive once you discount the win portion of your stake.

In an Each Way bet the place portion of your bet will normally vary depending on the amount of runners. Generally, up to 5 runners will be win only, up to 7 runners 2 places and up to 11 runners 3 places. This can vary and many bookmakers offer Extra Place promotions on specific events or races.