What Does Each Way Mean?
By the TheyShoot editorial team. Updated
An each way bet is two equal bets: one for your selection to win and one for it to place. A £5 each way bet costs £10. If it wins, both parts pay. If it only places, the place part pays at a fraction of the odds, usually 1/4 or 1/5.
What does each way mean?
Each way (often written E/W) splits your bet into a win part and a place part with the same stake. The win part pays at the full odds only if your selection wins. The place part pays if your selection finishes in one of the paid places, including first. It is most common in horse racing and golf, where big fields make finishing in the places a realistic fallback.
Each way terms: how many places are paid?
The "terms" tell you the fraction of the odds paid on the place part and how many places count. These are the standard UK terms for horse racing:
| Race | Runners | Places | Place terms |
|---|---|---|---|
| Any | 2 to 4 | Win only | No each way |
| Any | 5 to 7 | 2 | 1/4 odds |
| Non-handicap | 8 or more | 3 | 1/5 odds |
| Handicap | 12 to 15 | 3 | 1/4 odds |
| Handicap | 16 or more | 4 | 1/4 odds |
Many bookmakers pay extra places on big races such as the Grand National or Cheltenham handicaps. Golf each way terms vary by bookmaker and event.
Each way examples
You back a horse at 8/1, £5 each way, at 1/5 odds for three places. The total stake is £10. The place odds are 8/1 × 1/5 = 8/5.
- It wins: win part £5 × 9.00 = £45. Place part £5 × 2.60 = £13. Total return £58, profit £48.
- It finishes second or third: win part loses. Place part returns £13, a profit of £3 on the £10 stake.
- It finishes fourth or worse: both parts lose.
Try your own numbers in the each way calculator.
When is each way worth it?
Each way makes most sense on longer prices in competitive fields. On a short-priced favourite the place part pays so little that a placed finish loses money overall: at 2/1 and 1/5 terms the place part returns only £14 from a £20 each way stake.
FAQs
How much does a £10 each way bet cost?
£20. Each way is two bets of the same stake, one to win and one to place.
Does an each way bet pay if my horse wins?
Yes, both parts pay. You get the win part at full odds and the place part at the place odds.
What does 1/5 odds mean in each way betting?
It means the place part is paid at one fifth of the win odds. At 10/1, the place part pays 2/1.
What happens to an each way bet if a horse is withdrawn?
If your horse is a non-runner your stake is returned. If another horse is withdrawn late, a Rule 4 deduction may reduce your winnings, and the number of places paid can change if the field shrinks.