Each-way calculator
Win + place stakes for horse racing
Calculate returns on each-way bets — half on the win, half on the place — for horse racing and similar markets.
What is an each-way bet?
An each-way bet is actually two bets in one: half your stake goes on your selection to WIN, half goes on it to PLACE (finish in the top 2/3/4 depending on the race). Place odds are typically a fraction of win odds (1/4 or 1/5) and are set by the bookmaker. Each-way bets are popular in horse racing because they give you a return even if your horse doesn't win. Use the Odds Converter to compare win odds across bookmakers, and Kelly criterion to size your each-way unit stake.
See also: Odds converter, Kelly criterion
How to use this calculator
- 1Enter your unit stake (it'll be doubled — half win, half place).
- 2Enter the decimal win odds.
- 3Enter the place fraction (1/4 standard, 1/5 for big handicaps).
- 4See returns for: wins, places, and loses.
Example: backing a 12.0 outsider each-way
You stake €10 each-way (total €20) on a horse at 12.0, place 1/4. If it wins: win bet pays €120, place bet pays €37.50 (place odds = (12.0-1) × 0.25 + 1 = 3.75), total return €157.50, profit €137.50. If it just places: win bet loses €10, place bet returns €37.50, profit €17.50. If it loses both: you lose €20. Each-way protects long-shot value bets.
When to bet each-way
- Backing horses at 6.0+ odds in races with at least 5 runners
- Outright winner markets in golf, tennis Grand Slams (top 4/8/16 finish)
- When you're confident the selection will perform well but not necessarily win
Frequently asked questions
What is the Each-way calculator calculator?
An each-way bet is actually two bets in one: half your stake goes on your selection to WIN, half goes on it to PLACE (finish in the top 2/3/4 depending on the race). Place odds are typically a fraction of win odds (1/4 or 1/5) and are set by the bookmaker.
How does the Each-way calculator calculator work in practice?
You stake €10 each-way (total €20) on a horse at 12.0, place 1/4. If it wins: win bet pays €120, place bet pays €37.50 (place odds = (12.0-1) × 0.25 + 1 = 3.75), total return €157.50, profit €137.50. If it just places: win bet loses €10, place bet returns €37.50, profit €17.50. If it loses both: you lose €20. Each-way…
When should I use the Each-way calculator calculator?
Backing horses at 6.0+ odds in races with at least 5 runners. Outright winner markets in golf, tennis Grand Slams (top 4/8/16 finish). When you're confident the selection will perform well but not necessarily win.