Free tool
Each-way bet calculator.
An each-way bet is two bets in one — win and place. This works out what you stake and what comes back in each of the three outcomes, so there's no maths on the back of a betting slip.
The place part is only value if the price is. This shows the returns exactly; it can't tell you whether the odds, the place fraction and the number of places on offer are generous enough to beat the true chance. That judgement — and the risk — stays with you.
The worked example
A £10 each-way bet at 5.0 (4/1) with quarter place terms costs £20. If the selection wins: the win part returns £50 and the place part returns £20, so £70 back, a £50 profit. If it only places: the win part is lost, the place part returns £20 — you get your £20 total staked back, breaking even. If it does neither: both parts lose, −£20.
Straight answers
How does an each-way bet work?
An each-way bet is two bets of equal stake: one on the selection to win, and one on it to place (finish in the top few). So a £10 each-way bet costs £20. The win part pays at the full odds; the place part pays at a fraction of them (commonly a quarter or a fifth).
How is the place part of an each-way bet calculated?
The place part is settled at the full odds multiplied by the place fraction. At odds of 5.0 (4/1) with quarter odds, the place part pays winnings of (5.0 − 1) × 0.25 = 1.0, so a £10 place stake returns £20 if the selection places.
What are quarter and fifth place terms?
They set how much of the win odds the place part pays. Quarter odds (1/4) is common for handicaps; a fifth (1/5) for bigger fields is less generous. A third (1/3) sometimes appears on small fields. The fraction is fixed by the bookmaker before the race.
Is each-way betting good value?
It depends entirely on the odds, the place fraction and how many places are paid — an each-way bet is only value when the place part's true chance beats its price. This calculator does the arithmetic; whether the terms are worth taking is your judgement.
Each-way maths is arithmetic. Reading whether the place terms are worth it is the skill.
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18+ · Education, not betting advice · No tips, no picks · BeGambleAware.org
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