Each-way calculator
Work out the returns on any each-way or win bet: stake, odds, place terms, Rule 4 deductions and dead heats. It works the sums the same way UK bookmakers settle them.
How an each-way bet works
An each-way bet is two equal bets: one for the horse to win and one for it to finish in the places. A £10 each-way bet costs £20. If the horse wins, both bets pay. If it finishes placed but doesn't win, only the place bet pays, at a fraction of the odds.
Worked example
£10 each way at 8/1 with 1/5 odds for the places:
- It wins: the win part returns £10 × 9 = £90.00 and the place part returns £10 × (1 + 8/5) = £26.00. Total £116.00, a profit of £96.00 on your £20.00.
- It places: only the place part pays, £26.00, a profit of £6.00.
- It wins, with a 15p Rule 4 deduction: winnings are cut by 15%, so the total return is £101.60.
Standard each-way place terms
These are the standard terms in British and Irish racing. Many bookmakers pay extra places on big races, so check the terms when you bet.
| Race | Runners | Places paid | Place odds |
|---|---|---|---|
| Any | 2 to 4 | Win only | – |
| Any | 5 to 7 | 2 | 1/4 |
| Non-handicap | 8 or more | 3 | 1/5 |
| Handicap | 8 to 11 | 3 | 1/5 |
| Handicap | 12 to 15 | 3 | 1/4 |
| Handicap | 16 or more | 4 | 1/4 |
Dead heats
If your horse dead-heats for first, your win stake is divided by the number of horses in the dead heat and paid at full odds on that share; the rest of the win stake is lost. The place part is paid in full.
How we use this at The Gallop
Every tip we've given since October 2025 is on our results page, settled with exactly these sums: each-way bets at standard place terms, Rule 4 where it applied, and the bigger of the advised price and the starting price, as bookmakers offering best odds guaranteed would pay. You can check any bet by putting it through the calculator.
Questions
How much does a £10 each-way bet cost?
£20. An each-way bet is two bets of the same size: £10 on the horse to win and £10 on it to place.
What happens if my each-way horse wins?
Both parts pay. The win part pays at the full odds and the place part pays at the place fraction of the odds, usually a quarter or a fifth.
What happens if it only places?
Only the place part pays, at the place fraction of the odds. At 8/1 with 1/5 odds, a £10 each-way bet that places returns £26.00 from a £20.00 stake, a small profit of £6.00. At shorter prices a placed horse loses money: at 3/1 with 1/4 odds it returns £17.50 from £20.00.
What is Rule 4?
When a horse is withdrawn after the market has formed, bookmakers take a deduction from the winnings on the other runners, because the race became easier to win. The deduction depends on the withdrawn horse's price, from 5p to 75p in the pound, and it comes off winnings, not stakes.
Do non-runners lose my stake?
No. If your own horse doesn't run, both parts of the stake are returned.
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Every tip, every race day
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