Each-Way Bets Explained: How They Work in Horse Racing

Each-way bets are a popular way to bet in horse racing, especially if you like an outsider or want to give yourself a better chance of getting a return. Here’s a clear guide on what each-way betting means, how payouts work, and key tips for making the most of this approach.

What Is an Each-Way Bet?

An each-way bet is actually two bets in one:

• Win bet: Your horse must finish first.
• Place bet: Your horse can finish in one of the specified places (e.g., top 2, 3, or 4, depending on the race and bookmaker).

You pay double your stake—half for the win, half for the place. If your horse wins, you win both bets. If it just places, you win the place part only.

How Do Place Terms Work?

Place terms depend on the race type and number of runners. Most bookies follow these general rules:

• 5-7 runners: 1st and 2nd (2 places), usually 1/4 odds
• 8+ runners: 1st, 2nd, and 3rd (3 places), usually 1/5 odds
• Handicaps with 16+ runners: 1st, 2nd, 3rd, and 4th (4 places), usually 1/4 odds

Always check the bookmaker’s terms before you bet—some big races offer extra places as promotions.

Each-Way Bet Example

Let’s say you bet £5 each-way (£10 total) on a horse at 12/1 (13.00 decimal). The place terms are 1/4 odds, top 3 places.

• If your horse wins:
  - Win part: £5 x 12 = £60 profit
  - Place part: £5 x (12/4 = 3) = £15 profit
  - Total: £75 profit + £10 stake returned
• If your horse finishes 2nd or 3rd:
  - Win part: lost
  - Place part: £5 x 3 = £15 profit
  - Total: £15 profit + £5 place stake returned

When Should You Bet Each-Way?

• If you fancy a horse at a bigger price—each-way bets offer the chance of a return even if it just places.
• Look for races with extra place offers (often at major festivals).
• Check that the place terms give you decent value (some bookies may offer better odds or extra places).

FAQ: Each-Way Bets

• Does my stake double on each-way bets?
  Yes, you pay double your unit stake—half goes on the win, half on the place.
• Can I bet each-way on any race?
  Most races, yes. But small fields (4 runners or fewer) usually offer win-only betting.
• Do all bookmakers offer the same place terms?
  No—always check, as place terms and number of places may vary (especially for big races).
• Is each-way good value?
  It can be, especially with bigger-priced horses and when place terms are generous.