If you’ve ever placed a flutter on the Grand National or scanned the runners at Royal Ascot, you’ve probably seen the term “each-way” beside the odds. Understanding how an each-way bet works can make a real difference to your results and your enjoyment of betting. This guide breaks it all down – what an each-way bet actually means, when to use it, how payouts are calculated, and the pitfalls to avoid. By the end, you’ll read a racecard or sportsbook with the confidence of a seasoned punter.
We’ll walk you step-by-step through:
If you’re exploring different wagering strategies, our Bet Types Explained: Singles vs Accumulators and Bankroll Management 101: Tips for New Punters pages offer helpful insights.
An each-way bet is effectively two bets in one: half of your stake goes on your selection to win, and the other half goes on the same selection to finish in one of the bookmaker’s “place” positions. It’s most common in horse racing but also features in golf, greyhounds, and tournament markets such as football or tennis.
If your pick wins, you collect both parts. If it finishes within the stated place positions, you lose the win portion but receive a return on the place side at a reduced fraction of the odds – typically ¼ or ⅕. If it finishes outside the places, both parts lose.
Let’s say you back a horse for £10 each way at odds of 10/1. You’re staking £10 on the win and £10 on the place, so your total outlay is £20. If your horse wins, you’ll be paid on both bets. If it comes second or third, you’ll still get the place return, but the win bet fails.
This dual structure is why each-way betting appeals to cautious punters – it cushions the blow when your fancy runs well but doesn’t quite get its nose in front.
The number of places paid – and the fraction of odds used for the place portion – depend on the size and type of the event. Every bookmaker lists the terms clearly, but here’s how it generally works in UK racing:
These rules may shift slightly depending on the bookie or promotion (for example, “extra places” during big meetings). Always check the market details before placing your bet.
This example shows how the place portion provides a safety net. You’re risking double the stake, but you can still claw something back if your horse runs into the places.
In golf tournaments, the principle is the same. You might back a player at 20/1 each way with place terms of 1/5 odds for the top 6. If your player finishes 3rd, you still earn a payout on the place part even though they didn’t lift the trophy.
Each-way betting isn’t just for the cautious; it’s a strategic tool when used well. It works best when the potential place return justifies the extra stake.
Take the Grand National – 40 horses over gruelling fences. Picking the outright winner is tricky, but if you think your 25/1 outsider has a real chance of finishing in the top 4, an each-way punt makes perfect sense. Similarly, in a 150-player golf field, backing a long-shot each way to finish top 5 can be smart value.
By contrast, backing a 2/1 favourite each way rarely adds up. The place portion pays too little to offset the doubled stake. You’d need that favourite to win outright to turn a meaningful profit.
So the golden rule is simple: use each-way bets when the odds are long enough that the place return alone could deliver decent value.
Even experienced bettors misstep with each-way wagers. Here are a few traps to sidestep:
Example 1: Cheltenham Festival Handicap
You fancy a 16/1 shot in a 20-runner handicap. You stake £5 each way (£10 total). The place terms are top 4 at ¼ odds. Your horse finishes 3rd. You lose the win part but earn £5 × (16/4) = £20 profit + £5 stake back = £25. So a £15 profit overall. Not bad for a horse that didn’t even win.
Example 2: Golf Major Each-Way Bet
You back Rory McIlroy at 14/1 each way (£10 total) for The Open with 1/5 odds paying top 6. He finishes 5th. The win part fails, but you collect £5 × (14/5) = £14 profit + £5 stake = £19. It’s a modest gain, but you got a payout for a near miss.
These examples show how each-way betting keeps you in the game even when your pick falls short of outright victory.
| Term | Meaning |
| Each-way (E/W) | A bet split into win and place parts of equal stake |
| Place terms | Number of positions paid and fraction of odds used |
| Win part | Pays if your selection finishes first |
| Place part | Pays if it finishes in the specified place positions |
| Fraction of odds | Portion of win odds applied to place part (¼, ⅕ etc.) |
| Rule 4 | UK racing deduction rule applied after late withdrawals |
| Non-runner | Withdrawn horse – check settlement terms before the off |
Q1. Can I place an each-way bet on football or other sports?
Yes. It’s common in golf and sometimes used for tournament outrights in football or tennis, where “place” means finishing in the top few or reaching the final.
Q2. Does my selection have to win for me to get paid?
No. If it finishes within the stated place positions, you’ll still get a reduced payout. If it wins, both parts pay.
Q3. Is each-way betting safer?
It reduces volatility but doesn’t remove risk. You’re still staking double and can lose both parts if your pick misses the places.
Q4. Why do bookies sometimes offer ‘extra places’?
During big meetings or tournaments, bookmakers may pay on more places to attract business. These offers can improve value for each-way punters.
Q5. What about ante-post each-way bets?
If you bet weeks ahead of an event and your selection doesn’t run, the rules vary. “No-runner no-bet” protects your stake; otherwise, you may lose it. Always check the terms.
Each-way betting gives you flexibility and a bit of insurance when you fancy a runner or player at longer odds. You’re doubling your stake but gaining two chances to return something. Understanding how place terms and fractions work – and choosing your moments carefully – turns this from a casual punt into a smart, strategic play. Whether it’s the roar at Cheltenham or a Sunday golf major, an informed each-way bet lets you enjoy the action with a clearer head.
This guide was created with AI assistance and reviewed by a human editor to ensure accuracy and clarity. It is intended for informational purposes only and does not encourage gambling.
Compliance note on scope: This guide focuses on Great Britain under the Gambling Act 2005, regulated by the UK Gambling Commission. If you’re in Northern Ireland, check local arrangements before you bet.
This guide was created with AI assistance and reviewed by a human editor to ensure accuracy and clarity. It is intended for informational purposes only and does not encourage gambling.
