updated regularly – latest review: August 2026
Each way betting is one of the most popular bet types in UK sports betting — particularly in horse racing, where it gives you a return even if your selection finishes second, third or fourth rather than winning outright. This guide explains exactly how each way betting works, how place terms are calculated and how to find value in each way markets.
Key Facts
- An each way bet is two bets in one — a win bet and a place bet, each for the same stake
- Each way bets cost twice the unit stake — a £5 each way bet costs £10 in total
- The place portion pays at a fraction of the win odds — typically 1/4 or 1/5 — for a set number of places
- Place terms vary by race type and field size — always check before placing
- Each way betting is most popular in horse racing but available on golf, football and other sports
- Casino Compare covers all major UK bookmakers offering each way markets — browse easy sports offers for current free bet deals
What is an each way bet?
An each way bet splits into two separate bets of equal stake running simultaneously. The first is a win bet — your selection must win the race or event for this part to pay out. The second is a place bet — your selection must finish within the place positions for this part to pay out.
Both bets run at the same odds, but the place portion pays at a fraction of the win odds — typically 1/4 or 1/5 — depending on the race terms. Furthermore, if your selection wins, both the win bet and the place bet pay out. If your selection places but does not win, only the place portion pays. If your selection finishes outside the place positions, both bets lose.
How much does an each way bet cost?
An each way bet always costs twice the unit stake because it comprises two separate bets.
- £5 each way = £10 total (£5 win + £5 place)
- £10 each way = £20 total (£10 win + £10 place)
- £2 each way = £4 total (£2 win + £2 place)
This is important to factor in when managing your bankroll — an each way bet at £5 costs the same as two £5 singles.
How are each way returns calculated?
Each way returns depend on three things — the odds, the each way fraction and whether your selection wins or places.
Example: £5 each way on a horse at 10/1, three places paid at 1/4 odds.
If the horse wins:
- Win bet: £5 × 10/1 = £50 profit + £5 stake returned = £55
- Place bet: £5 × (10/1 × 1/4) = £5 × 2.5/1 = £12.50 profit + £5 stake returned = £17.50
- Total return: £72.50 from a £10 stake
If the horse places (finishes 2nd or 3rd) but does not win:
- Win bet: lost — £5 stake gone
- Place bet: £5 × 2.5/1 = £12.50 profit + £5 stake returned = £17.50
- Total return: £17.50 from a £10 stake — a profit of £7.50
If the horse finishes outside the place positions:
- Both bets lose — total loss of £10 stake
What are each way place terms?
Place terms determine how many places a bookmaker pays and at what fraction of the win odds. They vary depending on the race type and field size.
Standard horse racing place terms:
| Field size | Places paid | Fraction |
|---|---|---|
| 2-4 runners | Win only | N/A |
| 5-7 runners | 2 places | 1/4 |
| 8-11 runners | 3 places | 1/4 |
| 12-15 runners | 3 places | 1/4 |
| 16+ runners | 4 places | 1/4 |
| Handicaps 12-15 runners | 3 places | 1/5 |
| Handicaps 16+ runners | 4 places | 1/5 |
Furthermore, some bookmakers offer enhanced each way terms on major race days — particularly during Cheltenham Festival, the Grand National and Royal Ascot. Extra place promotions pay an additional place beyond the standard terms, giving each way bettors significantly more value on competitive handicap races.
What is the difference between 1/4 and 1/5 place terms?
The fraction determines how much of the win odds the place portion pays. Lower fractions mean lower place returns for the same odds.
Example: Horse at 20/1, £5 each way
At 1/4 odds:
Place payout = 20/1 × 1/4 = 5/1
Place return = £5 × 5/1 = £25 profit + £5 stake = £30
At 1/5 odds:
Place payout = 20/1 × 1/5 = 4/1
Place return = £5 × 4/1 = £20 profit + £5 stake = £25
The difference is £5 on a single £5 each way bet — significant across multiple bets. As a result, always prefer bookmakers offering 1/4 place terms over 1/5 where both are available on the same race.
When is each way betting good value?
Each way betting offers the best value when your selection has a genuine chance of placing even if it does not win — typically when backing a horse at longer odds in a competitive field.
Each way value situations:
Large field handicaps — races with 16 or more runners pay four places at most bookmakers. A horse at 20/1 that finishes second, third or fourth still returns a meaningful profit on the place portion.
Outsiders in small fields — backing a 10/1 chance in a field of eight pays three places at 1/4 odds. If your selection runs consistently, each way gives you three chances to profit rather than one.
Festival racing — Cheltenham Festival, Royal Ascot and the Grand National regularly feature extra place promotions from major bookmakers, making each way bets even more attractive on these race days.
However, each way betting offers poor value in small fields of five to seven runners where only two places are paid. A 6/4 favourite paying 1/4 odds for two places returns only 3/8 on the place portion — barely above evens — making a win-only bet often better value.
Each way betting on golf
Each way betting is also widely used in golf, where tournaments feature large fields and the winner is genuinely difficult to predict. Most bookmakers pay five, six or eight places on major golf tournaments at 1/4 or 1/5 odds.
Backing a longer-priced golfer each way in a major tournament — for example a 40/1 player in the Open Championship with eight places paid at 1/4 — gives you eight chances to profit from a single bet. Furthermore, the extended tournament format means your bet remains live across four days rather than a single race.
Each way betting on football
Each way betting is available on some football markets — most commonly first goalscorer and top tournament scorer. Bookmakers typically pay two or three places at 1/4 odds on first goalscorer markets.
Backing a player at 12/1 to score first in a match, with two places paid at 1/4 odds, means a place return of 3/1 if they score at any point in the match rather than first. As a result, each way first goalscorer bets give you broader coverage than a win-only bet on the same player.
How to find the best each way terms
Each way terms vary between bookmakers — particularly on race days with enhanced place offers. Here are the best ways to find value:
Compare place terms before placing — most bookmakers display their each way terms on the race card. Check two or three bookmakers before placing on any each way selection.
Use Best Odds Guaranteed — most major UK bookmakers offer BOG on horse racing, meaning if you take a fixed price and SP is higher, your return calculates at SP. BOG applies to both the win and place portions of each way bets.
Look for extra place promotions — Bet365, Paddy Power, William Hill and Betfred regularly run extra place promotions on major festival races. These pay an additional place beyond the standard terms — effectively giving you free insurance on your place bet.
Check bookmaker-specific terms — some bookmakers offer non-standard place terms on specific race types. Betfair Exchange, for example, calculates place returns differently to traditional bookmakers.
Frequently Asked Questions
What happens to my each way bet if my horse is a non-runner?
If your selection is declared a non-runner before the race, most bookmakers return your full each way stake — both the win and place portions. The bet is void. However, if a non-runner affects the race significantly, bookmakers may apply a Rule 4 deduction to all remaining bets, which reduces both win and place returns proportionally.
Can I each way bet on the favourite?
Yes — but each way betting on short-priced favourites is rarely good value. A 6/4 favourite paying 1/4 odds for two places returns only 3/8 on the place portion — a very small return for a two-place race. In general, each way betting delivers the best value at longer odds of 8/1 or above where the place fraction produces a meaningful return.
What does each way mean in an accumulator?
An each way accumulator splits into two separate accumulators — a win accumulator and a place accumulator. All selections must win for the win accumulator to pay. Each selection must place for the place accumulator to pay. Furthermore, returns from each winning or placing selection roll into the next, just like a standard accumulator. Each way accumulators cost four times the unit stake — £5 each way four-fold costs £40 in total (£5 win accumulator + £5 place accumulator, each running as four bets… actually two bets at £5 each = £10 total for a simple each way single, scaling up by the number of legs).
Do each way bets apply in-play?
Generally no — most bookmakers do not accept each way bets in-play on horse racing. Each way markets are almost exclusively available pre-race. However, some outright markets on golf and football tournaments accept each way bets in-play, though place terms may change as the event progresses.
What is a dead heat in each way betting?
A dead heat occurs when two or more horses finish in the same position. If a dead heat affects a place position, bookmakers divide the place return by the number of horses involved in the dead heat. For example, if two horses dead heat for third place in a three-place race, each horse receives half the normal place return for finishing third.
Can I cash out an each way bet?
Yes — most major UK bookmakers offer cash out on each way bets. The cash out value reflects the current odds on both the win and place portions of your bet. Furthermore, partial cash out is available at some bookmakers, allowing you to secure some profit while leaving part of your stake running.
Summary
Each way betting is one of the most versatile and widely used bet types in UK sports betting — giving you a return even when your selection falls just short of winning. It delivers the best value at longer odds in competitive fields, particularly in horse racing handicaps and golf majors where large fields make outright winners hard to find.
Always check the place terms before placing — the difference between 1/4 and 1/5 odds and between three and four places paid can significantly affect the value of your each way bet. Furthermore, look for extra place promotions from major bookmakers on festival race days, where enhanced terms can make each way bets exceptional value.
Casino Compare rates every sports welcome offer for difficulty, risk and estimated value. Browse all rated offers at casinocompare.uk, and see our horse racing betting guide, sports betting basics guide and best free bet offers UK guide for further reading.
Always read the full terms on the bookmaker’s website before placing any bet. Each way betting involves real money gambling. For support with responsible gambling, visit GambleAware.