Each Way Calculator: Work Out Your Each-Way Returns

The each way calculator works out what an each-way bet pays when your selection wins, finishes in the places or loses. Enter the odds, the stake per part and the place terms, choose the result, and it shows the total staked, the total return and the profit.

How to use the each way calculator

The calculator opens with 10 each way at 12/1, place terms of 1/4 and the result set to placed only. Change the fields to match your bet:

• Odds: the win price in any format, such as 12/1, 13.00 or +1200.
• Stake per part: the amount on each half of the bet. A slip that says £10 E/W costs £20 in total, so you enter 10 here, not 20.
• Place terms: the fraction of the odds paid on the place part, 1/2, 1/3, 1/4 or 1/5. Use the terms the bookmaker shows next to the race or event.
• Result: won, placed only or lost.

The outputs are the total staked, which is always twice the stake per part, the total return including stakes, and the profit, which turns negative when only the place part pays and it pays less than the full outlay. The tool has no currency symbol, and you decide whether your selection finished in the places.

The each-way formula

An each-way bet is a win bet and a place bet of equal size. With the odds written as a decimal price D and the place fraction as F (0.25 for 1/4, 0.2 for 1/5), the sums are:

• Place odds as a decimal: 1 + (D - 1) x F.
• Won: return = stake x D + stake x place odds.
• Placed only: return = stake x place odds.
• Lost: return = 0.
• Profit: return minus twice the stake.

In fractional odds the place price is simply the win price multiplied by the fraction. 12/1 at 1/4 becomes 3/1, 40/1 at 1/5 becomes 8/1, and 8/1 at 1/4 becomes 2/1. The rest is ordinary single-bet arithmetic, as in the odds calculator.

Worked examples: a horse at 12/1 and a golfer at 40/1

Horse racing first. You bet £10 each way on a horse at 12/1 in a race paying 1/4 the odds for the first three. The total staked is £20, and the place price is 3/1, or 4.00 in decimal.

• If it wins, the win part returns £10 x 13.00 = £130 and the place part returns £10 x 4.00 = £40. Total return £170, profit £150.
• If it finishes second or third, only the place part pays: £40 back, a profit of £20.
• If it finishes outside the places, you lose the £20.

Golf next. You put £5 each way on a player at 40/1, with the bookmaker paying 1/5 the odds for eight places on this event (golf terms vary a lot). The total staked is £10, and the place price is 8/1, or 9.00 in decimal. A top-eight finish without winning returns £5 x 9.00 = £45, a profit of £35. A win returns £5 x 41.00 = £205 plus the £45 place part, £250 in all, a profit of £240.

The same sums show why each-way rarely suits short prices. Take £10 each way at 2/1 with 1/5 terms. The place part pays 2/5, so a placed-only finish returns £14 on a £20 outlay, a loss of £6.

Dead heats, Rule 4 and what the calculator leaves out

The calculator settles a clean result. These cases change the actual payout:

• Place terms vary. They depend on the bookmaker, the type of race and the number of runners that start, and many bookmakers offer extra places on big races. If non-runners shrink the field, the terms can drop, for example from three places to two.
• Dead heats. If your selection ties for the last paying place, the place stake is cut in proportion to the places left. When your 40/1 golfer ties for eighth with one other player and only one place remains, half the £5 place stake, £2.50, is paid at 9.00, so the place part returns £22.50 instead of £45. A dead heat for first in a horse race cuts the win part in the same way.
• Rule 4. A late withdrawal in UK or Irish racing can reduce the winnings on both parts. A 15p in the pound deduction on the 12/1 winner above cuts the win profit from £120 to £102 and the place profit from £30 to £25.50, so the return falls from £170 to £147.50.
• Non-runners. If your own selection does not run, both parts are usually void and the stakes are returned.
• Each-way doubles and accas. These are two multiples, a win acca and a place acca. The parlay calculator can work out each part if you enter the win prices and then the place prices of every leg.
• Maximum payouts. Bookmakers cap what one bet can win, and the cap varies by operator.

Related guides and a check before you bet each way

For the full background on place terms, E/W doubles and when each-way makes sense, read each-way bets explained. The horse racing betting guide covers non-runners, starting price and Rule 4 in more depth, and the golf betting guide explains how many places golf bookmakers pay.

Before you place an each-way bet, check three things. Confirm the place terms and how many places are paid. Work out what a placed-only finish returns against that total. And ask whether the price is long enough for the place part to cover the outlay on its own: at 1/4 terms that only happens at 4/1 or longer, and at 1/5 terms at 5/1 or longer. Below those prices a place still loses you money.

Betting rules and laws differ between countries, so check what applies where you live and use a licensed bookmaker. Our responsible gambling page covers deposit limits, time-outs and where to find support.