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Each-way bet calculator
Enter your stake, odds and the each-way terms from your slip to see what the bet returns if your horse wins, places or finishes out of the places.
What an each-way bet pays
An each-way bet is two bets of the same stake. One is on the horse to win and the other is on it to finish in the places. If it wins, both bets pay. If it only places, the win bet loses and the place bet pays at a fraction of the win odds, usually a quarter or a fifth.
So £10 each way costs £20. The calculator shows each part on its own line so you can check it against what the bookmaker paid.
How the calculator works out your return
- Win part: stake × (win odds + 1). It only pays if the horse wins.
- Place part: stake × (win odds × place fraction + 1). It pays if the horse wins or places.
- Rule 4: the deduction in pence is taken off each part’s winnings, never off the stake.
- Dead heat: the stake on the part decided by the dead heat is divided by the number of horses that tied, then paid at full odds.
Fractional odds such as 8/1 are the winnings for every £1 staked. The calculator also takes decimal odds (9.0) and American odds (+800).
Worked example: £10 each way at 8/1, 1/5 odds
The bet costs £20. With 1/5 odds the place part pays at 8/5.
| Result | Win part | Place part | Total return | Profit |
|---|---|---|---|---|
| Wins | £90.00 | £26.00 | £116.00 | £96.00 |
| Places | £0.00 | £26.00 | £26.00 | £6.00 |
| Unplaced | £0.00 | £0.00 | £0.00 | −£20.00 |
Standard each-way place terms in UK racing
Bookmakers set their own terms and print them on the slip, so always use what yours shows. These are the usual terms by field size:
| Runners | Non-handicap | Handicap |
|---|---|---|
| 2 to 4 | Win only | Win only |
| 5 to 7 | 1/4 odds, 2 places | 1/4 odds, 2 places |
| 8 to 11 | 1/5 odds, 3 places | 1/5 odds, 3 places |
| 12 to 15 | 1/5 odds, 3 places | 1/4 odds, 3 places |
| 16 or more | 1/5 odds, 3 places | 1/4 odds, 4 places |
The places that count are fixed by the number of runners when the race starts, so a late non-runner can turn a three-place race into a two-place one.
Rule 4 deductions
When a horse is withdrawn after you have taken a price, the rest of the field has a better chance, so your winnings are cut by an amount based on the withdrawn horse’s odds. £10 to win at 6/1 with a 20p deduction returns £58.00 instead of £70.00.
Full Rule 4 table
| Withdrawn horse’s odds | Deduction per £1 of winnings |
|---|---|
| 1/9 or shorter | 90p |
| 2/17 to 2/11 | 85p |
| 1/5 to 1/4 | 80p |
| 2/7 to 3/10 | 75p |
| 1/3 to 2/5 | 70p |
| 4/9 to 8/15 | 65p |
| 4/7 to 8/13 | 60p |
| 4/6 to 4/5 | 55p |
| 5/6 to 20/21 | 50p |
| Evens to 6/5 | 45p |
| 5/4 to 6/4 | 40p |
| 8/5 to 7/4 | 35p |
| 9/5 to 9/4 | 30p |
| 12/5 to 3/1 | 25p |
| 16/5 to 4/1 | 20p |
| 9/2 to 11/2 | 15p |
| 6/1 to 9/1 | 10p |
| 10/1 to 14/1 | 5p |
| Longer than 14/1 | No deduction |
Some bookmakers no longer apply the 5p band. If more than one horse is withdrawn, the deductions are combined, up to a maximum of 90p.
Questions people ask
What does “1/5 odds, 3 places” mean?
The place part of your bet pays if the horse finishes in the first three, and it pays at one fifth of the win odds. At 10/1 the place part pays 2/1.
Is an each-way bet worth it on a short-priced horse?
The maths often goes against you. £10 each way at 2/1 with 1/5 odds costs £20, and if the horse only places the place part pays at 2/5, returning £14.00. You get back less than you staked. Each way usually makes more sense at longer odds, where the place part alone can cover both stakes.
Does Rule 4 come off the place part too?
Yes. When a horse is withdrawn and a Rule 4 deduction applies, it is taken off the winnings of both the win part and the place part. Your stakes are returned in full.
What happens to an each-way bet on a non-runner?
For a bet struck on the day of the race, both stakes are returned. An ante-post bet placed before the final declarations is normally lost if the horse doesn’t run, unless the bookmaker offered non-runner no bet.
How do I use the calculator with Best Odds Guaranteed?
If your bookmaker offers Best Odds Guaranteed and the starting price is bigger than the price you took, you are paid at the starting price. Type the starting price into the odds box to see what you should get.
What if the bookmaker paid extra places?
Extra places change how many finishing positions count as placed, not the maths. If your horse finished in one of the places your bookmaker paid, choose Placed and set the fraction shown on your slip.
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Read how each-way doubles, trebles and accumulators settle
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