An each way bet is one that places half your stake on a selection to win, and the other half of the stake on the selection to place. If the selection wins, the win portion is settled normally, whilst the place portion is settled at a fraction of the odds. However, if the selection fails to win, but places, the win portion of the stake is lost, whilst the place portion of the bet is again settled at a fraction of the win odds. An each way bet is very popular in horse racing, especially when there are a lot of runners.

## Betting exchange each way betting

Each way betting on betting exchanges is possible and works in the same way as traditional betting. An each way bet, sometimes referred to as â€˜EWâ€™ or â€˜E/Wâ€™ is two separate bets. For example, if you back a horse each way, you are placing one bet on it to win, and another bet on it to place in any of the place positions that are being offered for that specific race.

It is a bet that costs you double your stake, as you are effectively betting twice, but it means you can receive a return on your bet if the horse wins, or if it just places. So, if you place Â£5 each way, you’ll be placing Â£5 on the win and Â£5 on the place, a total of Â£10.

## How to work our each-way odds?

To work out each-way odds in horse racing or other sports betting, you need to understand how each-way betting works and then calculate the potential payouts for both the win and the place parts of the bet. Each-way betting is common in horse racing and some other sports where a single bet is split into two parts: one part for the horse to win and another for the horse to finish in a specified place (usually the top two, three, or four positions, depending on the number of runners).

Here are the steps to calculate each-way odds:

**Understand the Terms:**Each-way bets are typically written as “Fractional Odds” (e.g., 5/1, 8/1) or in “Decimal Odds” (e.g., 6.00, 9.00). You’ll need to know the fractional odds for your selection.**Determine the Each-Way Terms:**Each-way bets have specific terms defined by the sportsbook. Common terms include “1/4 odds for the first 2 places” or “1/5 odds for the first 3 places.” This information is usually available when you place your bet.**Calculate the Win Part:**To calculate the potential payout for the win part of the bet, multiply your stake by the fractional odds. For example, if you bet $10 at 8/1 odds and your selection wins, your profit would be $10 (stake) Ã— 8 (odds) = $80, plus your original $10 stake, making a total return of $90.**Calculate the Place Part:**To calculate the potential payout for the place part of the bet, multiply your stake by the fractional odds (usually 1/4 or 1/5) and divide by 1. This will give you the profit for the place part of the bet. Add this profit to your original stake to calculate the total return for the place part.For example, if you placed a $10 each-way bet at 8/1 odds with 1/4 odds for the first 2 places and your selection finishes second, the place part would be calculated as follows:Place Part Profit = ($10 Ã— 8) / 4 = $20 Total Return for Place = $10 (stake) + $20 (place part profit) = $30

**Calculate the Total Return:**To find the total return on your each-way bet, add the total return for the win part to the total return for the place part. This is the amount you would receive if your selection wins or finishes within the specified place positions.Total Return = Win Part Total Return + Place Part Total Return

These calculations may vary slightly based on the specific terms and rules of each-way betting set by the sportsbook. It’s essential to check the terms and fractional odds provided by the bookmaker when placing your bet to ensure accurate calculations.