Each-way bet calculator
Type in your bet slip. You'll see what comes back if your horse wins, places or finishes out of the places.
Win part
Place part
| If your horse | Returns | Profit |
|---|
Standard UK place terms checked 25 October 2026. See the terms table
How an each-way bet pays out
An each-way bet is two equal bets: one for the horse to win and one for it to place. If it wins, both parts pay. If it places, only the place part pays, at a fraction of the win odds. If it finishes outside the places, you lose both stakes.
The sum
- Win part returns: stake × (win odds + 1)
- Place odds: win odds × place fraction
- Place part returns: stake × (place odds + 1)
Rule 4 deductions come off the winnings of each part, not the stake. A dead heat divides the stake on the affected part by the number of horses tied.
Worked example
£5 each-way at 10/1 with 1/5 odds for three places costs £10. The place odds are 10/1 × 1/5 = 2/1.
| Result | Win part | Place part | Total back |
|---|---|---|---|
| Wins | £5 + £50 = £55 | £5 + £10 = £15 | £70 |
| Places 2nd or 3rd | Lost | £5 + £10 = £15 | £15 |
| Unplaced | Lost | Lost | £0 |
So a placed horse at 10/1 still makes you £5. At 3/1 the same bet would lose £2 if the horse placed, because the place part only pays 3/5.
Standard each-way place terms
These are the standard terms used by UK bookmakers on horse racing. Bookmakers often pay extra places on big races, so your slip may differ.
| Race | Place terms |
|---|---|
| Fewer than 5 runners | Win only |
| 5 to 7 runners | 1/4 odds, 2 places |
| 8 or more runners (not a handicap) | 1/5 odds, 3 places |
| Handicap, 12 to 15 runners | 1/4 odds, 3 places |
| Handicap, 16 or more runners | 1/4 odds, 4 places |
Source: Sporting Life's each-way guide. Terms checked 25 October 2026.
Questions people ask
How much does a £5 each-way bet cost?
£10. An each-way bet is two bets of the same size: one on the horse to win and one on it to place. £5 each-way means £5 on each part.
What does 1/5 odds a place mean?
The place part is paid at a fifth of the win odds. At 10/1, the place part pays at 2/1. With 1/4 terms it would pay at 10/4, which is 5/2.
Can you lose money on an each-way bet if the horse places?
Yes, at short odds. £10 each-way at 3/1 with 1/5 terms costs £20. If the horse places, the place part returns £16 (3/5 profit plus the stake), so you are £4 down.
How does Rule 4 affect an each-way bet?
When a horse is withdrawn too late for a new market, bookmakers take a deduction from your winnings, between 5p and 90p in the pound depending on the withdrawn horse’s price. It applies to both parts of an each-way bet, and never to your stakes.
What happens in a dead heat?
Your stake on that part is divided by the number of horses sharing the position, and the reduced stake is paid at full odds. If two horses dead-heat for first, half your win stake is settled as a winner and the other half is lost. Your place part is paid in full because the horse still finished in the places.
What are extra places?
Many bookmakers pay more places than the standard terms on big races, for example five or six places on the Grand National instead of four. If your horse finishes in an extra place, settle it as placed using the terms on your bet slip.
What this doesn't cover
Multiple each-way bets (doubles, trebles, Lucky 15s), non-runners in a multiple, and each-way bets on golf or other sports where the terms work differently. Returns are rounded to the penny. Bookmakers can round differently, and some cap winnings, so check your settlement.
Bet only what you can afford to lose. If gambling is causing you problems, the National Gambling Helpline is free on 0808 8020 133, any time, and BeGambleAware has advice and tools.