You may have heard people talk about backing a winner or placing an each way bet, but what does that actually involve?
UK horse racing offers a few straightforward ways to get involved. One that comes up a lot is each way betting, which can return something even if your selection does not come first.
This guide explains how each way bets work, how payouts are calculated, and what to know before deciding whether to cover more than one runner in a race.
What Is An Each-Way Bet?
An each way bet is two bets in one. Half of your stake goes on your horse to win, and the other half goes on it to finish in a place. A place usually means the top two, three or four, depending on the number of runners and the race type.
If you stake £5 each way, you are putting £5 on the win and £5 on the place, so £10 in total. The win part pays only if the horse comes first. The place part pays if it finishes in a qualifying position and is settled at a fraction of the win odds, such as one quarter or one fifth, which the bookmaker sets for that race.
Place terms vary by race and are shown before you bet. Once you are comfortable with that idea, the next step is seeing how the mechanics play out on the slip.
How Does Each-Way Betting Work In UK Racing?
Building on the basics above, each way betting simply splits your stake into two equal parts. Your total outlay is doubled because you are covering both outcomes at once.
If your horse wins, both parts are paid. If it only places, you get the place return at the stated fraction of the odds, and the win part is a loss. For example, in many races with eight runners, first, second and third count as a place, while in larger fields fourth can also qualify. The exact positions and the fraction used are shown with the race details.
Because each way covers more finishing positions, some bettors use it when they think a horse is competitively priced and likely to be in the mix, even if the top spot looks challenging. That naturally raises a related question many people ask next: what happens if you try to cover everything?
Can You Bet On All The Horses In A Race?
You can back as many horses in a race as you like, including every runner, by placing separate bets. That does not guarantee a profit. Odds are set so that covering the whole field usually costs more than you would get back from the winner, even before considering each way terms and any deductions.
This is because the market is built with a margin that ensures the total implied probabilities add up to more than 100 percent. In practice, backing every horse tends to lock in a loss or, at best, leaves very little room for a return.
Some people still choose to support more than one runner in big fields where prices are higher, but it is always worth weighing the numbers carefully. If you are wondering what it would cost to try it each way, the maths is simple.
Cost To Back Every Horse Each Way
Each way doubles your unit stake on every selection. So £1 each way is £2 in total for that horse, split evenly between win and place.
To estimate the total cost of backing every runner each way, multiply your each way stake by two, then multiply that figure by the number of runners. If there are 10 horses and you bet £2 each way, that is £4 per horse and £40 across the race.
In most cases, the amount spent covering the field each way will exceed the most likely payout from the winner plus a place return, due to the built-in margin and the reduced odds used for places. To judge whether any approach makes sense, it helps to understand how those returns are worked out.
How Are Each-Way Payouts Calculated?
Each way returns are settled in two parts. The win part pays at the full odds if your horse finishes first. The place part pays at a fraction of those odds if it finishes in a qualifying position. Common fractions are one quarter or one fifth, and they depend on the race and field size.
Your overall return depends on your stake, the odds, the place fraction and whether the horse wins or just places. The race card or bet slip will show how many places are being paid and at what fraction.
Worked Example Of An Each-Way Calculation
Imagine you bet £5 each way on a horse at 8/1. Your total stake is £10. The race pays three places at one quarter of the odds.
If the horse wins, the win part pays £5 at 8/1, which is £40, plus the £5 win stake returned, making £45. The place part pays £5 at a quarter of 8/1, which is 2/1, so £10, plus the £5 place stake returned, making £15. The total payout is £60.
If the horse finishes second or third, the win part does not return anything. The place part pays £15 as above.
Different races can use different fractions and place positions, so always check the terms before you confirm the bet.
How Do Place Terms Affect Each-Way Bets In The UK?
Place terms decide which finishing positions qualify and what fraction of the odds is used for the place part. They are usually tied to field size and race type. As a general guide, races with eight to eleven runners often pay three places, larger handicaps may pay to fourth, and smaller fields typically pay two places.
These terms can make a clear difference to value. A horse at the same price could offer a stronger potential return if the race pays more places or uses a higher fraction for the place part. The details are shown alongside the market, so you can see at a glance what counts.
Understanding where each way applies, how the fractions work and which places qualify gives you a clear picture of what to expect from your bet. Used thoughtfully, each way betting can add interest while keeping expectations realistic. Set a budget you are comfortable with and stick to it, and if you ever need help, independent support services are available in the UK.
