Each-Way Calculator: Place Betting Guide (2026)
Each-Way Calculator: Master Place Betting Strategy
Each-way betting combines win and place bets for better value on longshots. Our calculator shows exact payouts for both win and place portions, helping you identify when each-way offers genuine value over win-only betting.
What Is Each-Way Betting?
An each-way bet is two bets in one: a win bet and a place bet. If your selection wins, both pay. If it places (finishes in paying positions), only the place portion pays at reduced odds.
Quick Answer: Each-way (E/W) doubles your stake—half to win, half to place. The place pays at a fraction of win odds (typically 1/4 or 1/5). On a £10 E/W at 10/1 with 1/4 odds, the win pays £100 + £10 stake, while the place pays £25 + £10 stake. Each-way offers best value on horses at 5/1 or higher.
How to Use Our Each-Way Calculator
Enter odds and place terms to see win and place payouts.
Step-by-Step Instructions
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Enter Win Odds: Fractional or decimal
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Input Place Terms: 1/4, 1/5, etc.
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Set Place Positions: 1-2, 1-3, 1-4, etc.
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Enter Stake: Your unit stake (doubled for E/W)
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View Payouts: Win-only, place-only, and E/W scenarios
Input Fields Explained
| Field | Description | Example |
|---|---|---|
| Win Odds | Selection's odds | 10/1 |
| Place Fraction | Place odds divisor | 1/4 |
| Place Positions | Paying places | 1-2-3 |
| Stake | Per portion | £10 |
| Total Stake | Win + Place | £20 |
| Win Payout | If wins | £120 |
| Place Payout | If places | £35 |
Place Terms by Event
Horse Racing - UK/Ireland
| Field Size | Place Positions | Fraction |
|---|---|---|
| 2-4 runners | Win only | N/A |
| 5-7 runners | 1st, 2nd | 1/4 |
| 8+ runners | 1st, 2nd, 3rd | 1/4 |
| 12-15 runners (handicap) | 1st-4th | 1/4 |
| 16+ runners (handicap) | 1st-4th | 1/5 |
Golf Tournaments
| Field | Place Positions | Typical Fraction |
|---|---|---|
| Regular event | Top 5 | 1/4 |
| Major | Top 6-8 | 1/5 |
| Enhanced offers | Top 10 | 1/5 |
Football (Outright Markets)
| Market | Place Positions |
|---|---|
| Top 4 | 1-2 |
| Top 6 | 1-2-3 |
| Relegation | 1-2-3 |
Each-Way Math
Calculating Win Return
Win Return = (Stake × Odds) + Stake
Example: £10 × 10/1 + £10 = £110
Calculating Place Return
Place Return = (Stake × Odds × Fraction) + Stake
Example: £10 × 10/1 × 1/4 + £10 = £35
Total E/W Returns
| Outcome | Calculation | Return |
|---|---|---|
| Wins | Win + Place | £110 + £35 = £145 |
| Places only | Place only | £35 |
| Loses | Zero | £0 |
E/W Profit/Loss
| Outcome | Return | Total Stake | Profit/Loss |
|---|---|---|---|
| Wins | £145 | £20 | +£125 |
| Places | £35 | £20 | +£15 |
| Loses | £0 | £20 | -£20 |
When Each-Way Offers Value
The 5/1 Rule
| Win Odds | E/W Value | Reasoning |
|---|---|---|
| < 4/1 | Poor | Place return doesn't cover total stake |
| 4/1 - 5/1 | Marginal | Depends on place terms |
| 5/1 - 10/1 | Good | Place return meaningful |
| 10/1+ | Excellent | Strong safety net |
Place Probability Analysis
For E/W to have value, place probability must justify the double stake:
| Win Odds | Implied Win % | Place % Needed | Realistic? |
|---|---|---|---|
| 5/1 | 16.7% | ~35% | Sometimes |
| 10/1 | 9.1% | ~25% | Often yes |
| 20/1 | 4.8% | ~15% | Usually yes |
Best Each-Way Scenarios
| Scenario | Why E/W Works |
|---|---|
| Big-field handicaps | Many place positions |
| Consistent performers | High place rate |
| Class droppers | Competitive throughout |
| Course specialists | Track record matters |
Real-World Examples
Example 1: Horse Racing E/W
Selection: Horse at 12/1 in 16-runner handicap Place Terms: 1/4 odds, 4 places Stake: £10 E/W (£20 total)
If Wins:
- Win: £10 × 12/1 + £10 = £130
- Place: £10 × 3/1 + £10 = £40
- Total: £170 (£150 profit)
If Places 2nd-4th:
- Place only: £40
- Profit: £20
Example 2: Golf E/W
Selection: Player at 25/1 for major Place Terms: 1/5 odds, 8 places Stake: £10 E/W (£20 total)
If Wins:
- Win: £260
- Place: £60
- Total: £320 (£300 profit)
If Top 8:
- Place only: £60 (£40 profit)
Example 3: Marginal E/W
Selection: 3/1 shot in 8-runner race Place Terms: 1/4 odds, 3 places Stake: £10 E/W (£20 total)
If Wins:
- Win: £40
- Place: £17.50
- Total: £57.50 (£37.50 profit)
If Places 2nd-3rd:
- Place: £17.50
- Loss: -£2.50
Assessment: Poor E/W value—place doesn't cover stake
Each-Way Betting Strategies
Multiple E/W Selections
| Approach | Strategy |
|---|---|
| 2 selections | E/W each, need 1 place to profit |
| 3 selections | E/W each, breakeven on 2 places |
| Longshot portfolio | Multiple 20/1+ E/W bets |
E/W Doubles/Accumulators
Each-way multiples become complex:
- 2 selections = 4 bets
- 3 selections = 8 bets
- Stake multiplies accordingly
| E/W | Number of Bets |
|---|---|
| Single | 2 |
| Double | 4 |
| Treble | 8 |
| 4-fold | 16 |
Enhanced Each-Way Offers
Bookmakers offer promotions:
| Offer | Value |
|---|---|
| Extra places (Top 5 instead of 3) | Significant |
| Better fractions (1/3 vs 1/4) | Moderate |
| Double places | Very high |
Common Each-Way Mistakes
1. E/W on Short Prices
Mistake: Each-way on 2/1 shots Problem: Place portion barely covers stake Fix: Reserve E/W for 5/1+
2. Ignoring Place Terms
Mistake: Assuming all E/W is the same Problem: 1/5 vs 1/4 makes big difference Fix: Compare place terms across books
3. Small Fields
Mistake: E/W in 5-runner race Problem: Only 2 places; need to nearly win Fix: E/W works better in larger fields
4. Not Shopping Place Terms
Mistake: Sticking with one bookmaker Problem: Missing better terms elsewhere Fix: Compare place positions and fractions
Frequently Asked Questions
Is each-way worth it for favorites?
Rarely. At short odds, the place return doesn't justify doubling your stake. Win-only is better for favorites.
What happens if my horse finishes 4th in a 3-place race?
You lose both portions of the bet—no return.
Can I do each-way only betting?
Some books offer place-only bets, which can offer value on high place probability selections.
How does dead heat affect each-way?
Win and/or place portions divide according to dead heat rules. Your stake is divided by number of dead-heaters.
Is each-way better than dutching?
Different purposes. E/W backs one selection with insurance; dutching backs multiple selections for equal profit.
What's the best each-way odds?
Sweet spot is 8/1 to 16/1—long enough for valuable place return, short enough to have realistic win chance.
Advanced Each-Way Concepts
Each-Way Value Calculator
Compare E/W to win-only:
| Odds | Win-Only EV | E/W EV | Better Option |
|---|---|---|---|
| 4/1 | +3% | +1% | Win-only |
| 10/1 | +5% | +7% | E/W |
| 20/1 | +8% | +12% | E/W |
Place-Only Betting
When you believe in place but not win:
| Approach | Pros | Cons |
|---|---|---|
| E/W | Win insurance | Wasted if no win chance |
| Place-only | All stake on place | No win upside |
E/W Saver Strategy
Use E/W as saver in multiples:
| Leg | Bet Type | Purpose |
|---|---|---|
| 1 | Win | Strong conviction |
| 2 | Win | Strong conviction |
| 3 | E/W | Saver for volatile leg |
Pro Tips
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5/1+ rule: Reserve each-way for odds of 5/1 or higher
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Shop place terms: One extra place position adds significant value
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Big fields: E/W shines in 16+ runner handicaps
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Enhanced offers: Take every extra-place promo
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Track place rates: Know which horses/players place consistently
Related Calculators
- Dutching Calculator - Back multiple selections
- Odds Converter - Format conversion
- Horse Racing ROI Calculator - Track results
- Trifecta Calculator - Exotic bets
- Exacta Calculator - Straight order bets
Conclusion
Each-way betting combines win and place wagers for built-in insurance on longer-priced selections. Our calculator shows exact returns for any odds and place terms combination. Each-way offers best value at 5/1 and higher in large fields with multiple place positions.
Calculate Your Each-Way Bets Now →
The best each-way bets are longshots with high place probability—horses or players who consistently compete but don't always win. Know the place terms, calculate the breakeven, and let each-way insurance work for you.
