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A 10 GBP each way bet costs 20 GBP: 10 on the win and 10 on the place. Places paid (2, 3, 4 or more) and terms depend on the race and bookmaker. Please gamble responsibly.
What The Each Way Calculator Works Out
- Total stake: an each way bet is two bets of equal size, one to win and one to place, so a GBP 10 each way bet costs GBP 20.
- Total return: if the horse wins, both halves pay: the win half at full odds and the place half at the place odds. If it only places, the win half is lost and the place half pays. At 5/2 with 1/5 terms the place odds are 1/2, so a placed GBP 10 each way bet returns GBP 15 against a GBP 20 outlay.
- Profit: total return minus total stake. Each way makes most sense at around 10/1 or bigger, where a place alone comfortably covers both stakes; below about 4/1 at 1/5 terms a place loses money overall.
- Stake entered is (advanced): switch to "total outlay" if you want the figure you type to be the whole cost of the bet, in which case half goes on the win and half on the place.
- Runners and race type (advanced): standard terms are 2 places at 1/4 odds for 5 to 7 runners, 3 places at 1/5 for 8 or more in non-handicaps, 3 places at 1/4 for 12 to 15 runner handicaps and 4 places at 1/4 for handicaps of 16 or more. Below 5 runners each way is not offered. Bookmakers often add extra places on big races such as the Grand National as a promotion.
- Rule 4 deduction (advanced): when a horse is withdrawn after betting opens, winnings (not stakes) on that race are cut by a set amount, from 5p in the pound for a 14/1 withdrawal to 90p for a 1/9 favourite. The deduction applies to both the win and place parts.
- Dead heat (advanced): if two or more horses tie for the last paid place, the place stake is divided by the number sharing it and paid at full place odds, so a two-way dead heat halves the place return.
- Place odds (advanced): the win odds divided by the place fraction, shown as a fraction and a decimal, after any Rule 4 deduction.
- Result if it only places (advanced): the profit or loss if the horse finishes in the places but does not win, the figure that decides whether each way is worth it at this price.
- Please gamble responsibly: free confidential support is available from GamCare on 0808 8020 133 or at gamcare.org.uk.