What is an Each Way bet?
An each way bet divides your stake into two equal parts:
Win bet: You’re backing your selection to win the event outright.
Place bet: You’re backing the same selection to finish within a certain number of top spots set by the bookmaker (for example, top 3).
If your selection wins, both bets pay out. If it only places, you still get a return from the place part of the bet — making it a safer option than betting to win only.
If your selection wins, you get paid on both the win and the place portions. If it only places, the win part loses, but the place part still pays out at a fraction of the odds (often 1/5 or 1/4), giving you a smaller profit or reducing your loss.
Each Way terms explained
Bookmakers set place terms depending on the race type and number of runners.
Here’s a typical breakdown:
Race type | No. of runners | Typical place terms |
|---|---|---|
Fewer than 5 | — | Win only (no place part) |
5–7 runners | Top 2 | ¼ odds |
8+ runners | Top 3 | ⅕ odds |
Handicaps (16+ runners) | Top 4 | ¼ odds |
These terms vary between bookmakers, especially during big events when they may offer enhanced place options (e.g. paying out on the top 5 or 6 places).
How does an Each Way bet work?
Here’s how it works, step by step:
- Choose your selection — for example, a horse in a race.
- Select “each way” on the bet slip.
- Your stake is split in two — one half for the win, one for the place.
- Returns depend on whether the selection wins or simply places.
Example: Horse racing (Cheltenham Festival)
You back Horse A at 8.00 (7/1) with ¼ odds for the top 3 places.
- Total stake: £10 each way = £20 total
- Win bet: £10 @ 8.00 → returns £80 (£70 profit + £10 stake)
- Place bet: £10 @ 8.00 × ¼ odds = 2.00 → returns £20 (£10 profit + £10 stake)
Scenario 1 – Horse A wins: Both bets win → total return = £100 (£80 from win + £20 from place)
Scenario 2 – Horse A finishes 3rd: Only the place part wins → total return = £20 (£10 profit + £10 stake)
Scenario 3 – Horse A finishes outside the top 3: Both parts lose → £20 total loss.
Each Way vs win only (quick comparison)
When placing a bet, you’ll often need to choose between a win only and an each way option. The difference comes down to how much risk you’re willing to take, and how much security you want if your selection doesn’t win outright.
Feature | Win Only | Each Way |
|---|---|---|
Stake | Single bet | Split into win + place |
Payout trigger | Must win | Win or place |
Total stake | Lower | Doubled |
Risk | Higher | Lower |
Reward | Higher | Lower for place part |
Best for | Confident picks | Longer odds, uncertain outcomes |
Why use an Each Way bet?
Smart bettors choose each way bets for several reasons:
- Reduced risk: You can still earn a return if your pick doesn’t win but finishes in a placing position.
- Ideal for outsiders: Perfect for backing longshots that have a realistic chance of placing even if they don’t win outright.
- Flexible strategy: Handy for races or events with several payout spots, giving you more chances to win something back.
- More engagement: Keeps your bet alive for longer, especially in big fields with plenty of runners.
- Steadier returns: Even when your pick only places, the payout can still be worthwhile and help smooth out bankroll swings over time.
However, remember that an each way bet doubles your stake (win and place), so it requires a slightly larger bankroll than a simple win bet.
When to use an Each Way bet
Savvy bettors place each way bets when:
- They believe a selection has value at long odds but may not win outright.
- The field is large, increasing place opportunities.
- The bookmaker’s place terms are generous (extra places or ¼ odds).
- They want lower variance and longer engagement over risky outright bets.
Each way betting rewards accuracy in identifying value, not just in winners, but in consistent high performers.
Conclusion
An each way bet is a two-part wager, one on your selection to win, and one to place. It offers safety and flexibility, allowing you to earn a return even when your pick narrowly misses victory.
While your total stake is doubled, each way betting is one of the most effective ways to manage risk on high-odds selections and stay engaged throughout the event.
It’s a cornerstone strategy for horse racing and other markets where near misses still matter.
Frequently asked questions
Can Each Way bets be used in sports other than horse racing?
Yes. Each way bets are commonly offered in golf, greyhound racing, and other events with multiple top positions, wherever bookmakers provide place terms.
How do enhanced place terms affect Each Way bets?
Bookmakers sometimes offer extra places (e.g., top 5 or 6) or better fractions (e.g., 1/5 instead of 1/4) during big events. This increases your chances of getting a return on the place part of your bet.
Can Each Way bets be profitable long-term?
They can be, especially when you target longshots with genuine place potential. By consistently finding value and taking advantage of favourable place terms, bettors can manage risk while improving long-term returns.
What happens if my Each Way bet finishes outside the place positions?
Both the win and place parts of your bet lose, meaning you lose the full stake. Always check the bookmaker’s place terms before placing your bet.
Can I place an Each way bet on accumulators or multiples?
Yes. You can build each way accumulators, where both the win and place parts roll over across selections. However, the total stake doubles, and payouts depend on how many selections win or place.