What is an Each Way Bet?

The each way bet is a single selection wager consisting of 2 equal parts: a win bet and a place bet.

If you are looking to back a selection at longer odds but want a safety net in case they narrowly miss out on the top spot, an each way bet is the perfect solution. So, what is an each way bet exactly? It is a single wager consisting of two equal parts: one bet on your selection to Win, and one bet on your selection to Place (finish in the top designated positions).

As it consists of two separate bets, your unit stake is doubled. If your selection wins, both the 'Win' and 'Place' parts of your bet pay out. If your selection does not win but finishes in one of the specified place positions, only the 'Place' part pays out, usually at a fraction of the original odds.

While the concept is incredibly popular, working out fractions of odds for the place payout can be tricky. To save time, you can bypass the manual math and use the free AceOdds Each Way Bet Calculator to instantly determine your potential returns and profit based on your stakes and place terms.

How an Each Way Bet Works

With each way betting explained simply, the most important rule to remember is that your total stake will always be twice your unit stake. For example, if you place a £5 each way bet, your total outlay will be £10.

This £10 is divided evenly:

• £5 is placed on the Win market: This pays out at the full odds listed by the bookmaker if your selection finishes first.
• £5 is placed on the Place market: This pays out at a specified fraction of the odds (e.g., 1/4 or 1/5) if your selection finishes in the designated places (e.g., 2nd, 3rd, or 4th).

If your selection finishes 1st, both halves of the bet are successful. If your selection finishes 2nd, the Win portion is a loser (costing you £5), but the Place portion is a winner, generating a return that often covers your initial stake and secures a small profit, depending on the starting price.

How Many Places Are Each Way?

The number of places paid, and the fractional odds applied to the place portion of your bet, depend entirely on the sport, the specific event, and the number of competitors.

In UK horse racing, the industry standard terms for each way betting are heavily regulated and clearly defined by the number of runners in a race:

• 1 to 4 runners: Win only (Each way betting is not offered).
• 5 to 7 runners: 2 places, paying 1/4 of the original odds.
• 8+ runners (Non-Handicap races): 3 places, paying 1/5 of the original odds.
• 12 to 15 runners (Handicap races): 3 places, paying 1/4 of the original odds.
• 16+ runners (Handicap races): 4 places, paying 1/4 of the original odds.

Note: Bookmakers frequently offer "Extra Places" as promotions for major events, occasionally paying down to 5th, 6th, or even 7th place on big handicap races like the Grand National.

Best Sports for Each Way Bets

While you can technically place an each way bet on a variety of outright markets, it is most effectively utilized in sports with large fields of competitors:

• Horse Racing: The undisputed home of the each way bet. Bettors typically use this market to back outsiders at larger odds (e.g., 10/1 or higher), ensuring a healthy return even if the horse is beaten to the finish line by a strong favorite.
• Golf: Professional golf tournaments often feature fields of over 140 players. Because picking an outright winner is notoriously difficult, bookmakers offer each way terms that can pay out for finishing in the top 5, 8, or sometimes even 10 places.
• Football (Outrights): You can place each way bets on outright tournament markets, such as backing a team each way to win the World Cup (usually paying 1/2 odds for reaching the final) or backing a player each way for the Golden Boot.

Each Way Bet Examples

To make the math completely clear, let's look at a practical scenario. Imagine you place a £5 each way bet on a horse running in an 8-horse non-handicap race.

The bookmaker terms for this race are 3 places at 1/5 of the odds. Your unit stake is £5, meaning your total stake is £10.

Breakdown

• If Scenario A happens (Horse finishes 1st): * The Win bet (£5 @ 10/1) returns £55 (£50 profit + £5 stake).
  • The Place bet (£5 @ 1/5 of 10/1, which is 2/1) returns £15 (£10 profit + £5 stake).
  • Total Return = £70.00 (A net profit of £60.00).
• If Scenario B happens (Horse finishes 2nd or 3rd): * The Win bet loses (£0 return).
  • The Place bet (£5 @ 2/1) returns £15.
  • Total Return = £15.00 (A net profit of £5.00 from your £10 total stake).

How to Calculate an Each Way Bet

Calculating fractional place odds and combining returns manually can be slow and prone to errors. If you want to know how to calculate an each way bet accurately in seconds, utilizing our digital tool is the best approach.

How to Use the AceOdds Calculator for an Each Way Bet:

1. Navigate to the free AceOdds Bet Calculator.
2. Select Single from the 'Bet Type' dropdown (or select a multiple bet type like a Double or Treble if you are placing an each way multiple).
3. Check the box labelled Each Way.
4. Choose your odds format and input your unit stake (the calculator will automatically double it for your total outlay).
5. Enter the odds for your selection.
6. Select your bookmaker's specific 'Place Terms' (e.g., 1/4 or 1/5) from the dropdown.
7. Toggle the 'Outcome' buttons between 'Winner' and 'Placed' to instantly see how your returns and profits change based on the final result.

How to Place an Each Way Bet with bet365

Placing an each way bet online is incredibly simple. Here is a brief step-by-step guide on how to lock in your wager using bet365:

1. Log In: Access your bet365 account via the app or desktop site.
2. Make Your Pick: Navigate to your chosen sport (e.g., Horse Racing) and click on the odds of the selection you wish to back to add it to your bet slip.
3. Open the Bet Slip: Click your bet slip to expand it. You will see the standard 'Win' odds displayed next to your selection.
4. Tick the E/W Box: Next to the stake input box, there will be a small checkbox labelled E/W (Each Way). Click this box.
5. Enter Your Stake: Type your unit stake into the box. Remember, whatever number you type here will be doubled. (e.g., entering £5 will result in a £10 total stake deduction).
6. Confirm: Check your total stake at the bottom of the slip and click Place Bet to confirm your wager.