Each-way is a bet split into two equal parts: one on a selection to win and one on the same selection to place.

It is most common in horse racing and golf betting.

How it works

• Stake is divided into Win and Place

• Place terms (e.g. top 2, 3, or 4) depend on the event and bookmaker

• Place odds are a fraction of the win odds (e.g. 1/4 or 1/5)

Example

• $20 each-way bet = $10 win + $10 place

• Odds: 10.00, place terms 1/5

• If the selection finishes 2nd, the place part wins, win part loses

Key characteristics

• Lower risk than win-only bets

• Reduced payout compared to a full win

• Popular for outsiders with good place chances

Important note
Each-way bets increase total stake and include separate margins on win and place parts.