Calculate returns for each-way horse racing bets with UK/Irish place terms
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Total stake will be double (E/W = 2 bets)
Total stake: $20 ($10 × 2)
Win Odds
5/1
Place Odds
1/5 of 5/1
Total Stake
$20
Max Win Profit
$60
Quick-start with common scenarios
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TL;DR summary
Each-way betting is two bets in one: a win bet and a place bet. At 8/1 with 1/5 odds for 3 places, a $10 E/W bet costs $20 total. If your horse wins: Win bet returns $90, place bet returns $26 = $116 total ($96 profit). If it only places: Win bet loses, place bet returns $26 ($6 profit). If unplaced: Lose $20.
Important information
Common each-way questions
An each-way bet is two bets in one: a bet on your selection to WIN and a bet on it to PLACE (finish in the top positions). The total stake is double your unit stake - a $10 each-way costs $20 ($10 win + $10 place).
Each-way terms depend on the number of runners. 8+ runners: 1/5 odds, 3 places. 5-7 runners: 1/4 odds, 2 places. 16+ runner handicaps: 1/4 odds, 4 places. Fewer than 5 runners typically have no place betting.
The place odds are the win odds multiplied by the place fraction. At 10/1 with 1/5 place terms, the place odds are 2/1 (10 x 1/5 = 2). A $10 place bet at 2/1 returns $30 ($20 profit + $10 stake).
Each-way betting offers best value on horses at 5/1 or longer in competitive races. At shorter odds, the place return may not cover your losses if the horse only places. Many professionals prefer straight win bets on short-priced horses.
Many bookmakers offer enhanced place terms as promotions, such as paying 4 places instead of 3, or 1/4 odds instead of 1/5. These improve your value and are worth seeking out for big races.