What Does Each-Way Mean in Betting?

An each-way bet is really two bets in one: one part backs your selection to win, and the other part backs it to place (usually second, third, or even fourth, depending on the event and bookmaker). If your pick wins, both parts pay out. If it only places, you still get something back.

It’s a way to cover your bet with a bit of insurance, especially when the odds are high. Let’s look at how it works in practice.

How Each Way Betting Works

Say you put £10 each way on a 10/1 shot in a horse race. That means:

• £10 on the win: your selection must finish 1st
• £10 on the place: your selection must finish in the top few (2nd, 3rd, etc., depending on the terms)

That’s a total stake of £20.

What You Can Win

Let’s break down the returns using the same 10/1 example, with place terms at 1/5 odds:

Result	Return from Win Bet	Return from Place Bet	Total Return
Wins (1st)	£10 x 10 = £100 + £10 stake	£10 x 2 = £20 + £10 stake	£140
Places (2nd/3rd)	£0	£10 x 2 = £20 + £10 stake	£30
Finishes lower	£0	£0	£0

Note: The place odds are calculated as a fraction of the win odds, usually 1/4 or 1/5, depending on the number of runners and your bookmaker’s terms.

When It Makes Sense to Bet Each Way

Each way betting works best when:

• You’re backing an outsider at long odds
• You think they have a solid chance of finishing in the top few
• You want a bit of a safety net if they don’t win outright

This is especially popular in horse racing and golf, where large fields make it harder to pick outright winners.

When It Doesn’t Make Sense

Backing a favourite at short odds each way rarely offers value. For example:

• A 2/1 shot placing at 1/5 odds only gives you 2/5 (or 0.4) on your place stake
• In that case, your place bet returns just £14 for a £10 stake, not exactly thrilling

So I only go each way when the price is big enough to justify the doubled stake.

Quick Tips Before You Bet

• Check the each-way terms: Bookmakers vary on how many places they pay and at what odds
• Compare place terms: In big events like The Grand National or The Open, some bookies offer more places or better fractions
• Know the field size: The number of places usually depends on how many competitors are in the race or tournament

Final Thoughts

Each-way betting gives you more room to win—or at least not lose entirely—when you fancy a decent outsider. Just make sure the odds and place terms work in your favour.

Still learning the ropes? Have a look through the Betting Guides page for more quick, clear explanations.