What is each-way betting? Well, if you have ever visited the horse racing page of any major bookie, you have probably seen an option for each-way (EW) bets. In this article, we will explain each-way betting and how it works.

An each-way bet consists of two separate bets: a WIN bet and a PLACE bet. This means that you're placing a bet on a horse to win, and another on a horse to place. A win means that the horse finishes first, and place means that the horse finishes in the top two, three or four. Usually, the place bet is at 1/4 or 1/5 of the win odds.

Here is a short but concise summary of each-way betting:

  • List Icon

    Your first bet is on the horse to win.

  • List Icon

    Your second bet is for the horse to place. If the horse is in the top two, three or four, you win this bet. The second bet is usually at ¼ or 1/5 of the odds.

  • List Icon

    Keep in mind that, if you bet £10 each-way, you are actually betting £20, and not two bets of £5. By choosing EW, you double your stake.

Each-way betting calculators help punters easily calculate their each-way bets and how much they stand to earn for each number of places they choose.  Feel free to use our free calculator below:

Convert Odds from:
Gross Win
Net Win
Gross Win
Net Win

How To Use Our Each-Way Calculator

Check out our bet calculators page for lots of other useful tools to help you with your number-crunching.

The 2022 Cheltenham Festival will take place from Tuesday March 15th till Friday, March 18th. Punters are already deciding which horses to back in what promises to be the most exciting week in UK horse racing this year.

Of course, each-way bets are one of the most popular betting categories at Cheltenham. As such, here are our Cheltenham EW betting tips for 2022:

1.     18th March 2022: A Plus Tard at Cheltenham Gold Cup

Champ is the top favourite at Cheltenham Gold Cup, priced at 3/1 to win. As one of the top rivals, Conflated is scheduled to miss the Cup, Champ is the most likely winner, and should at least place in the top-3. A (double) £20 bet could get you a return of up to £112.00.*

2.     18th March 2022: Saint Felicien at Martin Pipe Handicap Hurdle NRMB

While Saint Felicien is the second favourite at Martin Pipe Handicap Hurdle, we think he has a good chance to win and will almost definitely place in the top 5. In three hurdle runs, this horse has won two and come in second once. At 7/1, a bet on Saint Felicien will get you a potential return of up to £160 for a (double) £20 bet.*

3.     16th March 2022: Unexpected Party at Coral Cup NRMB

After winning the Ascot in January, Dan Skelton’s horse is likely to perform again at the Coral Cup. While the field is still competitive, we think Unexpected Party has the makings of a top performer. Along with a strong pace, he is likely to make for another win, or at least place in the top 5. At 8/1, a bet on Unexpected Party will get you a potential return of up to £232.00 for a (double) £20 bet.*

*Odds are subject to change. Head to Paddy Power to check the latest odds.

While these are our each way betting tips for Cheltenham 2022, there are plenty of other opportunities to be found.

Each-way betting is very simple. You can find the EW option on your betting slip when you choose a horse to win.

Each-Way Bet Example

In this example using the Betfair sportsbook, we are betting on Verbal Fencing at the 18:10 Curragh race. Since this is a race with just 7 runners, place pays out at ¼ the odds for 2 places. The odds for a win are at 10.0. 

If we bet £10 on win, the potential return is £100.

Each-way bet on Betfair

If we choose EW, we double our stake to £20.

each-way bet on Betfair

The maths behind this is very simple. For the first bet, if Verbal Fencing wins, it follows that £10 × 10 = £100.

For the second bet (EW), there are 3 options:

  • List Icon

    Omakaze wins:

In this case, we win (£10 × 10) + (£10 x 3.25) = £132.50.

Our profit is £112.50.

  • List Icon

    Omakaze doesn’t win but places:

In this case, we lose the win bet but win the place bet. Our payout is (£10 × 3.25) = £32.50.

Our profit is £12.50.

  • List Icon

    Omakaze doesn’t place or win:

In this case, we lose both bets.

Our profit is -£20.

On your betting slip, you will see a small box – this gives you the option of placing an EW bet. Tick the box, and your stake will be doubled into two bets. While you can go about calculating your bets with an each-way calculator, most betting sites show you exactly how much you can win by ticking the EW box.

When placing your bet, pay attention to three things:

The Odds for Your Horse

This is obvious. We assume you know what odds are, whether fractional or decimal. Our odds converter can help you if you are confused.

How Many Places Pay Out

In the example below, there are 2 places, which means winner plus second or third place payout for the place bet. As long as your horse finishes first, second or third, you win the bet. Pay attention as sometimes there are three places, meaning you also win the bet if your horse places fourth. Other bookies use different notations, such as Each Way 1 – 2 – 3, or Each Way 1 – 2 – 3 – 4.

how to place a bet

The EW fraction

In this example, the EW fraction is ¼. This means your payout for the bet is 14/1 (15 in decimal odds) × 1/4 = 7/2 (4.5 decimal). Again, feel free to use our odds conversion calculator (linked above) to help you do the maths.

Looking to bet each way? Then don't miss out on Betfair's Each Way Edge promo!

Not all races have the same number of horses – because of this, place terms are different depending on how many horses are in the races:

  • List Icon

    Handicaps of 16 or more runners have 1/4 win odds on first 3 places

  • List Icon

    Handicaps of 12 to 15 runners have 1/4 win odds on first 3 places

  • List Icon

    All other races of 8 or more runners have 1/5 win odds on first 3 places

  • List Icon

    All races of 5 to 7 runners have 1/4 win odds on first 2 places

  • List Icon

    All races of fewer than 5 runners have win only

Bookies have different terms for what happens if a horse drops out of a race. Depending on how many horses drop out, place terms can be changed from first 3 places to first 2 places. This depends on your bookie’s specific terms.

While each-way betting is most prominent in horse racing, you will also find it for plenty of other sports, including football and golf.

Each-Way Bets in Football

Each-way bets on football betting sites are usually for the outright market. While you can pick an outright winner, you can also place an extra bet that that winner will place at least third or fourth.

Each-Way Bets in Golf

Each-way bets are even more common in golf than in football. Betting on a tournament winner can be hard, but if you place an EW bet, you place a second bet that the golfer will end up in the top 5.

Different bookies offer different terms when it comes to each-way bets, both for horse racing and golf tournaments. Place terms vary, as well as the EW fraction. Several bookies offer specific promos for EW bets, where you can choose between a lower EW fraction or more qualifying places. Both Betfair and bet365 have Each Way offers available.

Horse Racing


  • List Icon

    Find an overview of EW places and betting sites for the PGA Championship here.

  • List Icon

    Find an overview of EW places and betting sites for the US Masters here.

  • List Icon

    Find an overview of EW places and betting sites for the US Open here.

While you can find each-way bets for most races, the question you should obviously ask yourself is when each-way bets have value. As you might guess, a lot depends on the odds.

When to Bet Each-Way

You should consider betting each-way if the odds are at least 4/1 (5.0). This means that if you lose your win bet, your place bet will at least cover your losses, as long as your horse places. Of course, this is not for the absolute favourites, most of which are well below 4/1.

Consider an each-way bet when:

  • List Icon

    You are not 100% confident your selection will win, but you feel good about its chances of placing. Alternatively, you can consider placing a simple place bet.

  • List Icon

    If a horse comes at high odds, but you still feel it can win or place.

  • List Icon

    Winnings from the place bet can at least cover the losses from the win bet.

  • List Icon

    If a bookie does not offer separate place markets.

When Not to Bet Each-Way

If the odds are less than 4/1 (5.0), there is little value in an EW bet. While winning the place bet can work as a form of ‘insurance', it will not generate any profit if the win bet loses.

Do not place an each-way bet when:

  • List Icon

    The odds are less than 4/1 (5.0).

There are several types of each-way accas. It is important to remember that each-way multiples are settled on a WIN-to-WIN and PLACE-to-PLACE basis. If one element of the bet loses, it is voided; however, the other element is still valid and can be multiplied by the same element on the rest of the bet slip.

Win bets are multiplied by win bets, while place bets are multiplied by place bets.

If you lose one selection on the win market, all win bets are forfeited. However, you can still win place bets as long as all of your horses place.

If each of your horses win the race, you will win all bets.

EW Double: Two Horses

An each-way double is a win double and a place double. If you lose the win double, you can still win the place double.

EW Treble: Three Horses

An each-way treble is a win treble and a place treble. If you lose the win treble, you can still win the place treble.

Each-Way Accumulator: Four or More Horses

Accumulators with four selections or more work the same way. If your horses win the race, you win the full amount. If one of your horses does not win but all horses still place, you win the place part of the bet.

Each-way betting can be a profitable betting strategy. While it can help you ensure a profit if the odds are high enough, it will only act as insurance if the odds are lower. Pay attention to how each-way multiples work, since they are not the same as a standard acca.

Keep in mind that sites like bet365 or Betfair let you choose between more places or higher odds for your each-way horse racing bets, which can definitely spice up your betting strategy.

EW betting means placing two bets: one that the horse will win, and one that the horse will place. The second bet has ¼ or 1/5 of the payout of the first.

Yes – however, bets are settled on a on a WIN-to-WIN and PLACE-to-PLACE basis. Win bets are multiplied by win bets, while place bets are multiplied by place bets.

To ‘place' means to come in at the top of the race. Place can be the top 3 or top 4 horses in the race, depending on how many horses start. The more horses in the race, the more qualifying spots for place.

Each-way betting can be worth it if you bet on odds greater than 4/1 (5.0). In that case, the winnings from your place bet can cover the losses if your horse does not win. Otherwise, it is merely a form of insurance where you get part of your money back if your horse does not win.

Calculating each-way bets is easy. Multiply the stake by the odds for the win bet. For the place bet, multiply the stake by the fractional odds times ¼ or 1/5.

1/5 EW means that the place bet has 1/5 the odds of the win bet. This is common in racing, where you can add an each-way bet to the win market. This second bet is a bet that the horse will finish in the top 3 or 4.

WRITTEN BY Matteo Ebejer View all posts by Matteo Ebejer

Hi, I'm Matteo, a writer who's passionate about all things sports. The typical weekend for me revolves around being glued to all things football on TV, ruining my Fantasy Premier League team, and getting off my lazy butt for a run.

Further reading

ThePuntersPage.com © 2006-2024 ThePuntersPage.com