Betting maths guide
Each-Way Betting Terms Explained
Each-way betting has its own language. This guide explains the key terms, including win part, place part, place terms, extra places, non-runners, Rule 4 and total stake.
Each-way bet
An each-way bet is made up of two separate parts: a win part and a place part.
If you place £10 each-way, you are usually placing £10 on the selection to win and £10 on the selection to place. That means the total stake is £20.
| Each-way stake | Win part | Place part | Total stake |
|---|---|---|---|
| £10 each-way | £10 | £10 | £20 |
Win part
The win part of an each-way bet is the normal win bet. It only wins if the selection finishes first.
If the selection does not win, the win part loses, even if the selection finishes in a place position.
Place part
The place part pays if the selection finishes within the stated place terms. The number of places and the place fraction decide how the place part is settled.
| Selection result | Win part | Place part |
|---|---|---|
| Finishes 1st | Wins | Wins |
| Finishes in a place but not 1st | Loses | Wins |
| Finishes outside the places | Loses | Loses |
Place terms
Place terms describe how many places are paid and what fraction of the odds are paid on the place part.
For example, a bookmaker might offer 1/5 odds for the first three places. That means the place part is paid at one-fifth of the win odds if the selection places.
Place odds = 1 + ((win odds − 1) × place fraction)
| Win odds | Place terms | Decimal place odds |
|---|---|---|
| 9.00 | 1/5 odds | 2.60 |
| 9.00 | 1/4 odds | 3.00 |
Number of places
The number of places tells you which finishing positions are paid on the place part. This can depend on the race type, field size, sport, bookmaker and offer.
Always check the exact terms before placing the bet. A race paying three places is different from a race paying four or five places.
Extra places
Extra places are enhanced offers where a bookmaker pays more finishing positions than the standard each-way market.
For example, standard terms might pay three places, while an extra places offer pays five.
Total stake
The total stake on an each-way bet is usually double the named each-way stake because there are two parts.
| Displayed stake | Actual win stake | Actual place stake | Total cost |
|---|---|---|---|
| £5 each-way | £5 | £5 | £10 |
| £10 each-way | £10 | £10 | £20 |
| £25 each-way | £25 | £25 | £50 |
Place-only result
A place-only result happens when the selection places but does not win. In this case, the win part loses and the place part pays.
Whether the overall bet makes a profit depends on the place odds and the total stake.
| Each-way stake | Win odds | Place odds | Place return | Total stake | Place-only result |
|---|---|---|---|---|---|
| £10 each-way | 9.00 | 2.60 | £26 | £20 | £6 profit |
Rule 4
Rule 4 is a deduction that can apply when a horse becomes a non-runner after bets have already been placed.
It normally reduces the winnings or profit part of a winning bet to reflect the changed market after the withdrawal.
Non-runner
A non-runner is a horse that does not take part in the race after previously being included in the market.
Non-runners can affect odds, each-way terms, extra places and Rule 4 deductions. The final settlement depends on the bookmaker’s rules and the timing of the withdrawal.
Dead heat
A dead heat happens when two or more selections cannot be separated for a finishing position. Dead heat rules can reduce the stake or payout used for settlement.
Dead heat rules can make each-way returns more complicated, especially where several selections share a place position.
Best odds guaranteed
Best odds guaranteed is a bookmaker promotion where you may be paid at the bigger of the price you took or the starting price if your selection wins.
This can affect the final return, but terms vary. Best odds guaranteed may also interact with deductions, promotions and bookmaker-specific rules.
Starting price
Starting price, often shortened to SP, is the official price of a runner when the race starts.
Some bets are placed at a fixed price, while others are placed at SP. The type of price can affect how the bet is settled.
Each-way betting term summary
| Term | Meaning |
|---|---|
| Each-way bet | A bet split into a win part and a place part. |
| Win part | The part that only wins if the selection finishes first. |
| Place part | The part that pays if the selection finishes within the place terms. |
| Place terms | The number of places paid and the fraction of odds paid on the place part. |
| Extra places | An offer paying more place positions than standard terms. |
| Rule 4 | A deduction from winnings after a non-runner changes the market. |
| Non-runner | A horse that does not take part after being included in the market. |
| Dead heat | A tied finishing position that can affect settlement. |
Each-way betting FAQs
What does each-way mean?
Each-way means the bet is split into a win part and a place part.
How much does a £10 each-way bet cost?
Usually £20 total: £10 on the win part and £10 on the place part.
What are place terms?
Place terms tell you how many places are paid and what fraction of the win odds applies to the place part.
What are extra places?
Extra places are enhanced offers where the bookmaker pays more finishing positions than the standard each-way terms.
Can Rule 4 affect each-way bets?
Yes. Rule 4 can affect the win and place parts depending on the race and settlement.
Which calculator should I use?
Use the Each-Way Calculator for standard each-way returns, the Extra Places Calculator for enhanced place offers, and the Rule 4 Calculator for deductions.