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Each-Way Bet Calculator

Enter your stake per part, odds, place fraction, and the result.

How it is calculated

An each-way bet is two equal stakes, so the amount staked is 2 × stake. With decimal odds O and place fraction f (as a decimal, 0.25 for 1/4), the win part returns stake × O and the place part returns stake × (1 + (O − 1) × f). The result you pick decides the payout: won pays both parts, placed pays only the place part, lost pays zero. Profit is total return minus the total staked. The tool shows only the outcome you select, not all three at once. Odds must be above 1.0 and stake above zero; a blank or zero fraction falls back to 0.2 (1/5). Dead heats, deductions for non-runners and the number of paid places are not modelled.

Worked example

You place a $10-per-part each-way bet at decimal odds 6.0 with a place fraction of 0.25, and the horse wins. Total staked: 2 × 10 = $20.00. Win part: 10 × 6 = $60.00. Place part: 10 × (1 + (6 − 1) × 0.25) = 10 × 2.25 = $22.50. Total return: 60 + 22.50 = $82.50. Profit: 82.50 − 20.00 = $62.50. Had the horse only placed, the return would be $22.50, a profit of $2.50.

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Common mistakes

  • Typing the place fraction as 1/4 or 1/5. Enter it as a decimal (0.25 or 0.2); an unreadable value is silently replaced by 0.2, giving a wrong result for a 1/4 market.
  • Entering fractional odds such as 5/1 instead of decimal odds. Convert first: 5/1 is 6.0, because decimal odds include your stake.
  • Entering the total outlay as the stake. The stake field is per part, so a bet costing $20 in all is a stake of 10.
  • Expecting a placed horse to make a profit on a short price. At low odds the place return can be below the total staked, so the profit comes out negative.
  • Applying the tool to a bet whose place terms differ (number of places, reduced fraction after non-runners); the bookmaker's own terms should drive the fraction you enter.

About this calculator

An each-way bet, common in horse racing and other multi-runner sports, is really two separate bets of equal stake on the same selection: a win part, paid at the full decimal odds only if the selection finishes first, and a place part, paid at a fraction of those odds (commonly 1/4 or 1/5, set by the bookmaker based on field size) if the selection finishes within the paid places.

If the selection wins, both parts pay out — the win part at full odds and the place part at the reduced place odds — giving the largest total return. If it merely places, only the place part pays, and if it does neither, the full stake (both parts) is lost.

Enter your stake per part, the decimal odds, the place fraction, and the actual result, and select the result (won, placed or lost); this calculator returns the total staked (both parts), the total return and the profit for that one result. To compare outcomes, run it once for each result.

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Comments (1)

  • Editorial team

    A sanity check on the defaults: with odds of 5.0 and a 1/5 place fraction, a horse that only places returns 18 on 20 staked, a small loss, so a place alone does not always cover the stake. Enter the place fraction as a decimal, 0.2 and not 1/5. Which place terms do you meet most often?

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