What Does Each Way Mean in Horse Racing?

Each-way betting is one of the most popular ways to wager on horse racing in the UK and when properly used, it can be a versatile addition to your punting strategy.

So, what does each way mean in horse racing? Luckily, it’s a fairly straightforward concept. It’s essentially two bets placed at the same time: one on your selection to win and another for it to place.

In this guide, we’ll cover the topic of each way betting in detail, with explainers about each way place terms and each way extra place races.

We’ll also take a look at how each way betting works and how it applies to other sports beyond horse racing.

What Does Each Way Mean in Betting?

In its most basic form, an each-way bet is a combination of two separate wagers placed on the same selection. Unlike standard win bets, with each-way betting, there is a “win” part and a “place” part.

The “win” part of the bet backs your horse to win the race, while the “place” part is a bet on your selected horse to finish a race within the top positions.

This “place”, which can vary depending on market conditions like the number of runners or the event’s scale, could be anywhere from second to fourth place, or even further back for bigger races. Bookmakers set “place terms” in advance for a particular race.

For example, if you were to place an each-way bet of £10, you would effectively be putting £10 on the horse to win and another £10 on it to place for a total stake of £20.

In horse racing, punters like to use betting each way as a way to earn profit from selections with higher odds, as it allows you to cover more than one outcome at the same time, making it a popular choice with bettors on race day.

We offer horse racing tips with each-way angles, as well as win only wagers based on AI calculations.

How Does Each Way Betting Work?

First off, it’s important to understand that when you place an each-way bet, your stake automatically doubles.

As we touched on in the previous section, a £10 each-way bet will cost you £20 in total. £10 of your stake will go on the “win” part and the other £10 on the “place” part of the bet.

If your horse wins the race, you receive payouts for both the win and place parts of your wager.

However, if your horse doesn’t win, but “places” in the positions specified by the bookmaker (e.g. second, third or even fourth or fifth), you’ll be paid out at reduced racing odds (generally 1/4 or 1/5 of the win odds).

If your horse doesn’t win and finishes outside the place positions, you will lose your each-way bet with nothing returned.

Each Way Bet Example

Imagine a scenario where you want to back a horse in the Grand National at 12/1 odds with a £5 each-way stake (worth £10 in total). The bookies are offering 1/4 odds for five places.

Outcome	Win Bet Result	Place Bet Result	Total Return
Horse Wins	£60 (£5 at 12/1) + £5 stake = £65	£15 (£5 × 1/4) + £5 stake = £20	£85
Horse Places (2nd–5th)	Loses (horse didn’t win)	£15 (£5 × 1/4) + £5 stake = £20	£20
Horse Finishes Outside Top 5	Loses	Loses	£0

Each Way Place Terms Explained

The number of places that pay out on each-way bets varies from race to race and bookmaker to bookmaker, though they must align with Rule 3 in Tattersalls Rules on Betting.

Commonly referred to as place terms, the number of each way places on offer is usually listed beside the details, markets and odds of a given race.

These rules on each way place terms, which are standardised across the industry, depend on the race type and the number of runners involved. Here is how each way place terms typically work:

• 2-4 runners: No places. Win only.
• 5-7 runners: 1st and 2nd places at 1/4 odds.
• 8+ runners: 1st, 2nd and 3rd places at 1/5 odds.
• 12-15 runners: 1st, 2nd and 3rd places at 1/4 odds.
• 16+ runners: 1st, 2nd, 3rd and 4th places at 1/4 odds.
• 16+ runners: 1st, 2nd and 3rd places at 1/4 odds.

Each Way Extra Place Races

The rules around each way betting discussed above are minimum industry standards from Tattersalls Rules of Racing.

However, bookmakers  like to offer each way extra places promos and offers as a way to attract customers.

For example, for races with big fields, like the Grand National, bookmakers might pay out on five, six or even as much as seven places instead of the standard three or four.

Each-way extra place offers are popular with punters because they heighten their chances of landing a payout. It is important to note however, that bookies sometimes reduce the odds slightly to compensate for the enhanced place terms they offer.

Bookmakers are usually prolific with their each-way extra place offers for high-profile meetings and the biggest festivals on the racing calendar, so look out for promotions during major events.

How to Calculate Each Way Bets

With each way betting, there are effectively two chances of the bet paying out from the same selection, however, because there are two parts to the bet, the maths involved can be a little confusing.

Each-way bets aren’t as easy to calculate as standard single bets, however, once you understand how they work, the process will be easier to remember.

To calculate each way bets, you need to work out the fraction of the win odds that applies to the place part of the wager. The fraction value depends on the bookmaker’s place terms, though it is usually 1/4 or 1/5.

Here’s a step-by-step method to follow. In this example, we’re putting a £10 each way bet on a horse at 12/1 odds (£20 stake in total). The place terms are three places at 1/4 odds:

1. Take the win odds (12/1).
2. Next, divide the win odds (12/1) by the appropriate place odds fraction (1/4 for this example), like this: 12 divided by 4.
3. Take the resulting figure and multiply it by your stake (£10) to calculate the place part of the bet.
4. Finally, add the original stake back for the full return.

For instance, if you bet £10 each way (£20 total) on a horse at 12/1 with 1/4 odds for 3 places:

• Place odds = 12/4 (3/1).
• Place payout = £10 × 3 = £30 profit + £10 stake = £40.

Popular Each Way Betting Races

Some races, in both the Flat and jumps spheres, are particularly well-suited to each-way betting, making them prime targets for punters looking to maximise their chances of earning some profit.

Ideal events for each-way wagering are races with larger fields due to their competitive nature. Generally speaking, races of eight or more runners in non-handicaps and races with 16 or more runners in handicaps are the sweet spots by each-way betting regulars.

In addition, bookmakers like to roll out those tasty each way extra place offers for the biggest events and festivals to tempt bettors in, making them an excellent fit for each way betting.

Popular races for each-way betting include:

Jumps

Race Name	Hurdle or Chase	Racecourse	First Place Prize Money
Grand National	Steeplechase	Aintree	£500,000
Coral Gold Cup	Steeplechase	Newbury	£142,375
Scottish Grand National	Steeplechase	Ayr	£112,540
bet365 Gold Cup	Steeplechase	Sandown	£98,472.50
William Hill Hurdle	Hurdle Race	Newbury	£87,219
Welsh Grand National	Steeplechase	Chepstow	£85,425
Grand Annual Chase	Steeplechase	Cheltenham	£84,405
Paddy Power Gold Cup	Steeplechase	Cheltenham	£84,405
Ultima Handicap Chase	Steeplechase	Cheltenham	£84,405
Festival Plate	Steeplechase	Cheltenham	£84,405
Topham Chase	Steeplechase	Aintree	£84,195
County Hurdle	Hurdle Race	Cheltenham	£61,897
Coral Cup	Hurdle Race	Cheltenham	£61,897
Classic Chase	Steeplechase	Warwick	£56.950
Greatwood Hurdle	Hurdle Race	Cheltenham	£56,270
Scottish Champion Hurdle	Hurdle Race	Ayr	£56,270

Flat

Race Name	Racecourse	First Place Prize Money
Ebor Handicap	York	£300,000
Stewards’ Cup	Goodwood	£128,850
John Smith’s Cup	York	£103,080
Ayr Gold Cup	Ayr	£92,772
Cambridgeshire Handicap	Newmarket	£90,195
Cesarewitch Handicap	Newmarket	£90,195
Royal Hunt Cup	Ascot	£90,195
Wokingham Stakes	Ascot	£90,195
Chester Cup	Chester	£86,632
Northumberland Plate	Newcastle	£81,000
Lincoln Handicap	Doncaster	£77,310
Bunbury Cup	Newmarket	£51,540
Portland Handicap	Doncaster	£51,540
Victoria Cup	Ascot	£51,540
Epsom Dash	Epsom	£50,960
November Handicap	Doncaster	£36,078

What Does Each Way Mean in Other Sports?

With each-way betting in other sports, the overall concept remains the same: a wager with two parts – one for the outright win and another part for a place – and in the next couple of sections, we’ll take a closer look at how each-way betting applies to other sports.

Each Way Bet on Football

In football, each-way betting isn’t as common as it is in horse racing, and it usually only applies to outright markets. For example, most bookmakers offer each way bets for Premier League, Champions League and World Cup outright winner markets.

The place part here would pay out if your chosen team finishes in the top two or even the top three, depending on the bookmaker’s place terms for the market.

For tournament outright markets, bookies usually limit places to two at 1/3 odds, though that does, at least, guarantee a payout if the team you back reaches the final.

Similarly, for player-specific outright markets like “Premier League Top Scorer/Golden Boot winner” or “Most Premier League assists”, bookies routinely pay out up to four places at 1/4 odds.

For example, you could back Liverpool star Mohammed Salah to be the Premier League’s top scorer each way at odds of 8/1.

Using the place terms above (four places at 1/4 odds), you would stand to earn a reduced payout if Salah finished as the second, third or fourth highest scorer at the end of the Premier League season.

Each Way Bet on Golf

Golf is arguably the second-most popular sport after horse racing for each-way betting. The large field of players in golf tournaments provides an ideal landscape for placing each-way bets.

Generally, bookmakers tend to pay out on five places at 1/5 odds for golf competitions, though place terms for bigger tournaments and majors usually receive boosts by each way extra place offers.

The each-way extra places available will vary from bookie to bookie, though some pay out on up to 12 places for the biggest events.

For example, you could back Scottie Scheffler to win The Open Championship again at 11/1. A standard £10 win bet would return £120 (£110 +£10 stake) if it lands, however, backing Scheffler each way would provide some insurance.

Say the bookmaker’s terms were 10 places at 1/5 odds for The Open, you would stand to earn a reduced payout for your “place” bet if Scheffler failed to win but finished in any position from two to ten in the final rankings.

FAQs