Each-way
An each-way bet is two bets in one: half your stake backs the selection to win, and half backs it to place (finish in the top few). It costs double the unit stake, and the place part pays a fraction of the win odds.
By Mark SmithChecked A worked example
You place a R50 each-way bet (R100 total) on a horse at 9.00 decimal (8/1). Terms are 1/4 odds for the first three places.
- Horse wins: win part pays R50 x 9.00 = R450. Place part pays at 1/4 of 8/1 = 2/1, so R50 x 3.00 = R150. Total return R600.
- Horse finishes 2nd or 3rd: win part loses. Place part returns R150, a R50 gain overall.
- Horse finishes 4th or worse: you lose the full R100.
Where each-way is used
Each-way is mostly a horse racing bet, but bookmakers also offer it on golf, outright soccer markets and some reality TV events. It suits bigger-priced selections, where a place return can still cover your outlay.
Each-way vs tote
Each-way is a fixed-odds bet with set place terms. On the tote, win and place are separate pools, and the place dividend depends on the pool. Fixed odds can also be compared to the starting price. For bookmakers with strong racing books, see our horse racing betting list.
Frequently asked questions
How does an each-way bet pay?
If your horse wins, both parts pay: the win at full odds and the place at a fraction (often a quarter or a fifth). If it only places, you lose the win part and collect the place part.
How much does an R50 each-way bet cost?
R100 in total: R50 on the win and R50 on the place.
How many places pay in an each-way bet?
It depends on the number of runners and the bookmaker's each-way terms. A big field might pay the first three or four places at 1/4 or 1/5 odds, while small fields pay fewer places or don't offer each-way at all.
Related terms
Mark has been writing about online gaming since 2007, covering everything from sportsbooks to casino and slot reviews, offering insights for players of all levels.