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Last checked 21 October 2026 by Tom Perkins. Calculations checked by us against the rules cited below.
An each-way bet is two bets of equal stake: one on your selection to win and one on it to place. A £10 each-way bet costs £20. If your selection wins, both parts pay. If it only places, the win part loses and the place part pays at a fraction of the odds, usually 1/4 or 1/5.
How an each-way bet is settled
The place part is paid at a fraction of your win odds. In decimal terms, place odds = 1 + (decimal odds − 1) × place fraction. At 10/1 with 1/5 odds a place, the place part is effectively 2/1.
| Result | Win part | Place part |
|---|---|---|
| Wins | Wins at full odds | Wins at place odds |
| Places but does not win | Loses | Wins at place odds |
| Finishes outside the places | Loses | Loses |
Worked example (illustration only)
£10 each-way (£20 total) at 10/1 in a 9-runner non-handicap, so 1/5 odds for places 1–2–3:
- Wins: win part returns £110 (£100 winnings + £10 stake), place part returns £30 (£20 + £10). Total £140.
- Finishes 3rd: win part loses, place part returns £30. You get £30 back from a £20 outlay.
- Finishes 4th: both parts lose.
In a 16-runner handicap at 1/4 odds for four places, £5 each-way at 12/1 finishing 4th pays the place part at 3/1: £20 back from £10.
Standard UK place terms for horse racing
Unless a bookmaker displays different terms, each-way bets on British racing are commonly settled on the actual number of starters using the Tattersalls Committee Rules on Betting:
| Runners | Race type | Place terms (Tattersalls Rule 3) |
|---|---|---|
| Fewer than 5 | All | Win only |
| 5–7 | All | 1/4 odds, places 1–2 |
| 8 or more | All (non-handicap) | 1/5 odds, places 1–2–3 |
| 12–15 | Handicap | 1/4 odds, places 1–2–3 |
| 16 or more | Handicap | 1/4 odds, places 1–2–3–4 |
Bookmakers may advertise extra places on selected races. These are promotions with their own terms and are shown on the bet slip. Check the terms showing when you place the bet, because they are what count. Bets placed before final declarations (ante-post) can be settled differently; see the bookmaker’s rules.
Big festival races often have more runners and bookmakers sometimes pay extra places on them. We list the standard terms for the biggest races in our Grand National 2027 guide (with a worked each-way example) and our Cheltenham Festival 2027 guide.
Each-way on other sports
Each-way is common on golf outright markets, football top goalscorer and outright winner markets, darts and snooker tournaments. There’s no standard table outside racing. Each market shows its own place fraction and number of places, and these can change during an event. Golf place markets often finish with ties, which brings dead heat rules into play.
Non-runners, Rule 4 and dead heats
- Non-runner: if your horse doesn’t run, stakes on it are normally returned.
- Rule 4: if another horse is withdrawn after you took a price, your winnings on both parts may be reduced. See Rule 4 explained.
- Dead heat: if your selection ties for a paying position, the stake on that part is divided (Tattersalls Rule 10). Bookmakers differ on how they handle a tie for a place that is still inside the paid places, so check their rules.
- Fewer runners: if non-runners take the field below 5, Tattersalls terms are win only. bet365’s published rules, for example, say that with fewer than 5 runners the place money is invested to win. Rules differ, so check.
Each-way multiples
An each-way double, treble or Lucky 15 is two separate multiples: a win multiple using full odds and a place multiple using each selection’s place odds. Use our full-cover bets guide and acca guide to work these out.
Each-way and free bets
Many welcome offers set minimum odds and say whether each-way bets qualify. Some count only the win part. Read the offer terms before you place the bet; our how to claim free bets guide covers what to check.
Current sports offers
The offers below are for new customers aged 18+ at UKGC-licensed bookmakers. Each one has its own terms, minimum odds and expiry, so read them before you opt in. Our free bets page explains how tokens work.
New customers. Min £5 deposit. First bet only: min £5 single/each-way at odds 1/1+ within 30 days of registration. 3 x £10 Free Bets (singles/each-way, excl. virtuals), expire after 30 days. Free Bet stakes not returned. Neteller and Skrill deposits excluded. No wagering on Free Bet winnings stated.
Promo code:
AB5G30Three separate £10 Free Bets, usable on singles and each-way.Full T&Cs
New Sky Betting and Gaming customers 18+ only (previous Sky Bet, Vegas, Casino, Bingo or Poker account holders excluded). Register, add card details and make a minimum £5 deposit. Your first bet must be a single or each-way bet of at least £5 on any Sky Bet market at odds of 1/1 or greater; accumulated smaller stakes do not count and only your first bet counts. Staking requirement must be met within 30 days of registration. Rewards: three £10 Free Bet tokens, usable on any single or each-way market excluding virtuals, not with any other offer. Free Bets expire 30 days after crediting, are non-withdrawable and stakes are not included in returns. One claim per customer. Customers depositing with Neteller or Skrill do not qualify. Offer may differ if you arrive via another link. Sky Bet General Promotion Terms apply.
New customers. Opt in at sign-up. Deposit £10+ and place a £10+ bet at odds 1/1+ within 7 days (excl. virtuals, esports, non-UK/IE racing). 4 x £10 Free Bets: 2 for football accas (4+ legs), 2 for sports multiples (2+ legs), valid 7 days. Free Bet stake not returned.
Rewards credited on settlement of one £10 qualifying bet, win or lose.
Full T&Cs
New BetMGM customers 18+. Select the Sports Welcome Offer at sign-up. Deposit at least £10 and place at least £10 on a qualifying bet within 7 days of registration: min odds Evens 1/1 (2.0); each-way bets need £10 each way (£20 total); Bet Builder total odds must be 1/1+. Excludes virtual sports, esports and non-UK/IE horse racing. Free Bets, Profit Boosts, Odds Boosts, void, cashed-out, partially cashed-out and system bets do not qualify. Not with other offers. On settlement you get 4 x £10 Free Bets: 2 x £10 on football accas (4+ selections) and 2 x £10 on sports multiples (2+ selections), selected via the betslip checkbox. Free Bets expire after 7 days; stake not included in winnings. Once per household/computer/IP. Operated by LeoVegas Gaming plc (UKGC 39198). General and promotional T&Cs apply.
New customers. Opt in at sign-up. Deposit £10+ and place a £10+ bet at odds 1/1+ within 7 days (excl. virtuals, esports, non-UK/IE racing). 4 x £10 Free Bets: 2 for football accas (4+ legs), 2 for sports multiples (2+ legs), valid 7 days. Free Bet stake not returned.
Same LeoVegas offer structure as BetMGM, with UK/IE racing allowed for the qualifier.
Full T&Cs
New BetUK.com customers 18+. Opt in by selecting the Sports Welcome Offer at sign-up. Deposit at least £10 and place at least £10 on a qualifying bet within 7 days of registration: min odds Evens 1/1 (2.0); each-way needs £10 each way; Bet Builder total odds 1/1+. Excludes virtual sports, esports and non-UK/IE horse racing. Free Bets, Profit/Odds Boosts, void, cashed-out, partially cashed-out and system bets do not qualify. Once only; not with other offers. On settlement: 2 x £10 Free Bets on football accas (4+ selections) and 2 x £10 on sports multiples (2+ selections). Unused Free Bets expire after 7 days; stake not included in winnings. Operated by LeoVegas Gaming plc (UKGC 39198). General Promotional and General T&Cs apply.
Frequently asked questions
How much does a £5 each-way bet cost? £10: £5 on the win and £5 on the place.
Can an each-way bet lose money even if it places? Yes. At short odds the place part can return less than your total stake. At 2/1 with 1/5 terms, a £10 each-way bet that places returns £14 from £20.
Is each-way available in every race? Under Tattersalls terms, races with fewer than 5 runners are win only. Bookmakers show each-way availability on the bet slip.
Do place terms change if horses are withdrawn? Bets after final declarations are commonly settled on the actual number of starters, so the terms can change. Ante-post bets follow the bookmaker’s ante-post rules.
Does a Rule 4 deduction apply to the place part too? Yes. Deductions apply to the winnings of a winning bet, and each-way bets have two parts.
We post new guides and checked offers on Telegram (18+ only):
Staying in control
Set a deposit limit before your first deposit, decide your budget in advance and never chase losses. Calculators show what a bet could return; they do not make any outcome more likely. You can self-exclude from all online gambling sites licensed in Great Britain for free with GamStop, and many banks let you block gambling payments. The National Gambling Helpline (0808 8020 133) is free, confidential and open 24 hours a day. See our responsible gambling page.
Sources checked
- Tattersalls Committee Rules on Betting (Rule 3 place terms, Rule 4, Rule 10)
- bet365 – Horse Racing Sports Rules
Affiliate disclosure: onlinebetfree.co.uk may receive a commission if you open an account through links on this page. This does not affect the offers we list or how we describe them, and it never changes the terms an operator gives you.
18+ only. Please gamble responsibly. For free, confidential support visit BeGambleAware.org or call the National Gambling Helpline on 0808 8020 133.