Each-way betting explained in full: what it means, how it works, and how to make it pay.
Whether you’re betting on the Grand National, a greyhound race, or a longshot at a golf tournament, the each-way bet remains one of the most popular and versatile bet types in the world of betting. But how exactly does a way bet work, and why do so many punters choose to bet each-way rather than going all in on a win?
In this guide, you’ll find everything you need — with each-way betting explained in a clear and down-to-earth way. We’ll show you how to place an each-way bet, when it might make sense, and what kind of bet pay you can expect, depending on how your selection performs.
What Is an Each-Way Bet?
An each-way bet is essentially two bets within one. It combines a win bet and a place bet into a single wager. When you place an each-way bet, you’re betting on your selection to win, and also on it to finish second, third, or even fourth, depending on the number of places the bookmaker offers for that specific sporting event.
Say you’re betting £10 each way on a horse to win the Grand National. That means you’re actually staking £10 on the win bet and £10 on the place bet — so your total stake is £20. If your horse wins, you’ll collect from both parts of the bet. If it finishes in the places but doesn’t win, you still get a return — albeit only from the place part of your bet.
How Does an Each-Way Bet Work?
So, how does this type of bet work in practice? When you place an each way bet, you’re committing to two separate bets: one that your pick will win, and another that it will place.
Let’s break down an example of an each way bet:
- You bet £10 each way on a horse at 20/1.
- That means your total stake is £20: £10 on the win and £10 on the place.
- The place part of the bet usually pays out at a fraction of the win odds — often 1/4 or 1/5, depending on the each-way terms offered by the bookmaker.
If the horse wins, your win bet returns £10 x 20 = £200, plus your stake back.
The place bet would pay out £10 x (20/1 × 1/5) = £40, plus your stake.
So, your bet would return £250 in total.
If the horse finishes second, you lose the win part of the bet, but the place part still pays. That’s why punters often use an each way to hedge their bets in unpredictable races like the Grand National.
When Should You Place an Each-Way Bet?
Knowing when to place an each-way bet is crucial. This type of bet really shines when you’re betting on an outsider or longshot. It’s common in horse racing and football, and even more so in golf tournaments, where there are huge fields and greater odds.
If you back a horse to finish first, you might be tempted by the long win odds. But if it comes second or third, an each-way bet ensures you don’t walk away empty-handed. Similarly, if you bet on a golfer to win The Open, an each-way gives you a shot at a payout even if they come in the top two or top five, depending on the bookmaker.
What Sports Can You Use Each-Way Bets On?
While each-way betting is traditionally associated with horse racing, it’s also used in a range of other sports. Greyhound racing each-way markets work in a similar way to the horses, especially when betting on an open greyhound race with large fields.
Way bets on other sports include:
- Golf tournaments, where place terms often stretch to the top five or top ten.
- Football, particularly for outright winner markets — e.g. betting on an underdog team to win the Premier League or finish in the top four.
- Tennis, snooker, darts, or even political events — any market where place terms can be applied.
The key is whether the bookmaker offers defined each-way terms on the event in question.
How Do Bookmakers Pay Out Each-Way Bets?
Every bookmaker sets their own each-way terms, but they’ll typically state the fraction of the win odds and the number of places paid. For instance:
- 1/5 odds on the top 4 places in a horse race
- 1/4 odds on the top 6 finishers in a golf tournament
Your bet would pay according to those terms. If you bet £10 each-way and your selection comes in a place, you’ll receive 1/5 or 1/4 of the win odds, plus your stake.
Always check the each-way place terms before you place your bet. Some bookmakers offer extra places for big events, especially in the Grand National or Royal Ascot — that’s where savvy punters often profit from each way bets.
What Happens If Your Selection Doesn’t Win?
This is where the place part of an each-way bet proves its worth. If your horse fails to win but finishes in the top two, three, or four, the place part of your bet would still pay out — often enough to make a small profit or break even.
Let’s say you back a greyhound at 12/1 with a £10 each-way stake. It finishes third, and the bookmaker pays 1/4 odds on the top 3.
- Your win bet loses.
- Your place part pays £10 x (12 ÷ 4) = £30, plus your stake.
So, you receive £40 in total, even though your selection didn’t win.
Can You Use a Free Bet for Each-Way Betting?
Yes, many bookmakers allow you to place each-way bets using a free bet, though it’s important to read the terms carefully. With a free bet, you may only get returns on the winnings, not your stake.
A £5 each-way free bet means you’re essentially placing two bets — one on the win, and one on the place. If your selection places, you’ll receive the relevant fraction of the win odds, but not the free bet stake itself.
Make sure the bookmaker allows you to split your free bet into each-way components before you place a bet.
How Do Odds Affect Each-Way Payouts?
Win odds directly influence how much your place bet will pay. Remember, the place part is usually a fraction of the win odds. That fraction varies — common splits are 1/5, 1/4, or 1/3 depending on the event and the bookmaker’s offer.
A £10 each-way on a 16/1 shot could return:
- £170 for the win part
- £50 for the place part (assuming 1/5 odds)
Your bet would return £220 plus your stake if the horse wins, and around £60 if it only places.
Can You Use a Calculator for Each-Way Bets?
Yes — especially if you’re betting in bulk or combining each-way bets into accumulators, an each-way bet calculator is your best friend. Just enter your stake, odds, each-way terms, and number of places, and it’ll break down what your bet will pay depending on where your selection finishes.
These calculators are especially useful in complex horse racing cards or when betting on multiple greyhound races. They help you visualise the potential payout and decide whether the each-way bet offers enough value to be worthwhile.
Are Each-Way Bets Worth It?
That depends on the market, the odds, and your appetite for risk. If you’re backing a short-priced favourite, a straight win bet might offer more value. But if you’re eyeing a 20/1 shot or a golfer in a stacked field, the each-way wager can provide insurance — and potentially big returns.
They’re especially useful in unpredictable races like the Grand National, or any greyhound race where form guides go out the window. In these cases, you may not expect your selection to win, but a place could still mean a tidy payout.
Final Thoughts: Each-Way Betting Explained
If you’re just stepping into the world of betting, the each-way bet might seem complicated at first — but in reality, it’s a simple way to hedge your bets and boost your chances of a return, even if your selection doesn’t win.
It’s a type of bet that rewards bold picks and offers coverage when things don’t go perfectly. Whether you’re watching a greyhound race, a horse race, or a golf major, knowing when and how to place an each-way bet can turn a near miss into a profitable punt.
Key Things to Remember:
- An each-way bet consists of two bets: a win bet and a place bet.
- You’ll stake £10 each way, which means £20 in total.
- Place terms vary depending on the bookmaker and the event.
- If your selection wins, both parts of the bet pay out.
- If it only places, you still receive a fraction of the win odds.
- Bookmakers often offer enhanced place terms for big races like the Grand National.
- You can use a free bet to place each-way — but check the small print.
- Each-way betting is popular in horse racing, golf, and greyhound racing.
- Use a calculator to work out potential returns before you place your bet.
- Best used on longshots or in large, competitive fields where winning isn’t guaranteed.
Want to profit from each way? Now you know how the bet is made, it’s time to pick your selection, check the each-way terms, and back a horse, greyhound, or underdog team with a smart, strategic bet.
Let the betting begin.
