New to sports betting and unsure what an each-way bet is? This guide explains everything you need to know about one of the most popular bet types in racing and other sports.
What is an each-way bet?
An each-way bet is effectively two bets in one. Half your stake is placed on your selection to win, and the other half is bet on it to place. To place means to finish in the bookmaker's paid positions — normally the top two, three, or four. Each-way bets are most common in horse racing, but any sport with outright markets, such as football, Formula 1, and golf, usually offers each-way terms.
One key factor to consider when wagering each way is the place terms. Bookmakers set how many positions pay out and at what fraction of the win odds winnings are paid for placed finishes. These terms are shown on the market.
How does an each-way bet work?
Your total stake is divided 50/50: half on the win and half on the place. For example, a £10 each-way bet costs £20 in total — £10 win plus £10 place. If your selection wins, both the win and place parts pay out. If the selection only places, just the place part pays out, and the win half of the stake is lost. If the selection doesn't place, the whole bet loses. The place part pays at a fraction of the outright win odds — typically 1/5 or 1/4.
Each-way betting in horse racing
Bettors often use each-way bets on horses with bigger odds to guarantee some return if the horse doesn't win, or in large-field races like the Grand National, where picking the winner is difficult. UK bookmakers follow a standard scale for paying out places: in fields of five to seven runners, two places are paid; for eight or more, the top three places are covered. Races with 16 or more runners pay four places. For special events like the Grand National, bookies often offer extra places.
Each-way betting in other sports
In football, a bettor using World Cup betting sites to wager on the tournament winner needs their selection to reach the final to guarantee a return, with bookies paying out on the runner-up at half the starting odds. For example, if you backed Argentina to retain their title at 10/1 and they lost in the final, bookmakers would pay out on each-way bets at 5/1. In the top scorer market, bettors can expect to be paid at 1/4 the odds if their selection finishes in the top four. In golf, backing a player each way at a major can see places paid on a top five, eight, or ten finish, depending on the bookmaker.
Each way odds and payouts
The place part of the bet pays out the same fraction of the starting odds, no matter which place the selection finishes in, as long as the bookmaker pays on that place. A horse priced at 16/1 to win would have place odds of 16/5, which simplifies to 3.2/1. So a £10 stake would pay £32 profit if the horse placed.
Each way bet example
Take the Cheltenham Gold Cup: you place a £10 each-way bet on a horse at 16/1 with places paid on the top three at 1/5 of the win odds. Your total stake is £20: £10 on the win, £10 on the place. If your horse wins, the bet pays out both parts. You earn £160 profit from the win part and £32 from the place part (since 1/5 of 16/1 is 3.2/1). You also get your £20 stake back, for a total return of £212. If your horse places second or third, you lose the win part but receive £32 from the place part, plus your £10 place stake back, giving a total return of £42 and a profit of £22. If your horse does not place, you lose both stakes, resulting in a £20 loss.
Most bookmaker apps and websites feature an each-way bet calculator that handles the maths automatically.
Each way bet - frequently asked questions
How are each way bet returns calculated?
The win part pays at the full outright odds, and the place part pays at a fraction — typically 1/5 or 1/4 — of those odds. Most bookmaker apps include an each-way bet calculator that handles the maths automatically.
Can you place each-way bets on football?
Yes, each-way bets apply to any market with multiple finishing positions. Football outright markets, such as league winner and top scorer, are the most common ways to place football each-way bets, with places paid on the top two, three, or four depending on the bookmaker.
Can free bets be used for each-way bets?
Whether you can use free bets for each-way wagers depends on the betting site. Some allow free bet tokens for each-way bets, while others place restrictions. Always check the terms and conditions of any free bet offers before opting in.
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