An each-way bet is two bets — one for the win, one for the place. Work out what each part returns.
Odds accept fractional (10/1) or decimal (11.0). Place terms are the fraction of the odds paid for placing, e.g. 1/5 or 1/4.
Outcome
Place odds work out as 3.00 in decimal — that's 1 + (odds − 1) × the place fraction.
About this calculator
An each-way bet is really two separate bets of the same size: one that your selection wins, and one that it finishes in the places. That's why a "£10 each-way" bet costs £20 — the unit stake is what goes on each part, and the total staked is always double it.
The place part is settled at a fraction of the win odds, set by the bookmaker's place terms. At 1/5 terms, a 10/1 selection pays 2/1 for placing, which is 3.00 in decimal. The general rule this uses is place decimal odds = 1 + (win decimal odds − 1) × the place fraction.
If your selection wins, both parts pay out, because a winner has also placed. If it only places, the win part is lost and the place part pays. If it does neither, you lose the whole stake. This calculator follows those standard UK each-way rules.
Assumptions: the number of places offered and the place fraction are whatever your bookmaker advertised for that race or market, so enter the terms they quoted. Dead heats, Rule 4 deductions and non-runners are not modelled, and any of those will change the actual settled return.
Frequently asked questions
Does a £10 each-way bet cost £10 or £20?
It costs £20. Each-way is two bets of £10 — one on the win, one on the place — so the unit stake you enter is doubled to give the total staked.
Do I get both parts if my selection wins?
Yes. A winner has also placed, so the win part and the place part both pay out. That is why the return on a winning each-way bet is much larger than on one that only places.
What do place terms like 1/5 mean?
They are the fraction of the win odds paid on the place part. At 1/5 terms a 10/1 selection is paid at 2/1 for placing, so a £10 place part returns £30 including the stake.