Free each-way bet calculator. Enter stake, win odds and place terms to see your return if the selection wins or only places.
Each-way = two bets: half your money on the win, half on the place. Total outlay shown below is your full stake (win + place).
An each-way bet is really two bets of equal size: one on your selection to win, and one on it to place (finish in the top few, e.g. top 3, 4 or 5 depending on the field). So a "$10 each-way" bet costs $20 in total — $10 on the win and $10 on the place.
The place part is paid at a fraction of the win odds — commonly 1/5 or 1/4. The calculator works out the reduced place odds and then shows what happens in each scenario.
$10 each-way on a 6.00 (5/1) selection with 1/5 place terms. Place odds = 1 + (6.00 − 1) × 0.2 = 2.00. If it wins: $10 × 6.00 + $10 × 2.00 = $80 back from a $20 outlay ($60 profit). If it only places: $10 × 2.00 = $20 back — exactly your outlay, so you break even.