How to calculate each way bet returns?

How to calculate an each-way return?

Calculating each way bets is easy, and you don’t even have to do it yourself! However, if you want to know more about this bet and how you can work out your potential returns, read on to discover the secrets of Each Way betting calculations!

How does an each way bet work?

An each way bet is a wager that covers a selection winning, as well as offering a second bet on the selection finishing in one of the paying places.

It is a bet which therefore has two possible outcomes, each of which will have to be covered with its own stake.

Therefore, this is why a £5 Each Way bet costs £10 (as the bet requires 2 x your £5 unit bet stake to place).

Furthermore the odds on the win bet and the place are different with the place portion of the each way bet paying out at a stated fraction of the price of the standard win bet.

Punters like Each Way bets as it is considerably more flexible than betting on the win market alone. Offering the punter a chance of a return if their selection does not win, but manages to finish in a paying place.

To effectively calculate an Each Way Bet, there are a number of factors to consider, which we will look at more closely below.

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What are the key factors when calculations an each way bet?

The key factors you need to consider when working out what a potential each way bet could return for you are:

Your unit stake & total stake

Obviously, the amount you bet on the two different parts of an each way bet will be a key determining factor of how much you could potentially win.

How many places pay out for an Each Way bet

This is important. For different sports events, there may be a different number of paying places paid out. For a typical horse race, the second place, second and third place or second, third and fourth placed selections may be paid out, depending on the number of runners.

However, for a bet on a market such as betting each way on Manchester City to win the Champions League, would have just one paying place (for reaching the Champions League Final) alongside the winner bet.

For some sporting events that have many competitors and a high number of potential outcomes, such as the Grand National Steeplechase, or a Major Golf tournament, there may be a higher number of paying places than you find in other sports.

What fraction of the win odds a place pays out

The second most important part of the Each Way bet calculation is the percentage payout of the Win odds you will receive if your place bet wins.

With most bookmakers, such as bet365 Sport, each way odds for the place portion of the bet are displayed as a fraction of the win odds.

For example, if the win odds on your each way selection is 10/1, and your betting operator offers each way odds of ⅕ of the win odds for a second or third place. Then if your selection places, the effective odds of the place part of your bet is ⅕ x 10, which is 2/1.

These calculations can become quite complicated, but you don’t have to worry about that as we will explain below.

Whether your bet wins, or places

Your total return from your Each Way bet will determine how much you win back from the bookmaker.

-If your selection wins, then both the win part of the bet and the place part of the bet win.

-If your selection doesn’t win, but places, you lose the win part of the bet, but win the place part.

-If your selection doesn’t win and does not place, your bet is a loser.

Now you know these key factors, we can work out exactly how much you can expect as a return on any Each Way bet.

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An example of an each way bet calculation - horse racing

Here’s an example of how to calculate the costs and potential return of a typical each way bet in horse racing.

Example: Backing the horse Eva Dickson each way in the 5.30 at Southwell.

The horse Eva Dickson is running in the 5.30 at Southwell and is 5/1 (6.00) to win the race.

The bet slip reveals that this race sees each way odds of ⅕ on the place bet for the top three places.

So, a £5 each way bet on Eva Dickson would cost £10. £5 on the Win bet at 5/1 and £5 on the Each Way bet to finish either first, second or third at odds of ⅕ of 5/1, which equates to even money.

If Eva Dickson wins. The Win portion of the bet wins - £5 at odds of 5/1 is a £30 return, but the Each Way portion of the bet also wins at ⅕ of 5/1, which is effectively an even money bet. That means this part of the bet sees a £10 return. So in this example, an Eva Dickson win will see you land £40 in total returns (£30 profit).

If Eva Dickson doesn’t win, but places, you lose the win part of the bet but win the place part of the bet. We already know this is a £10 return, so in this case, you would get a £10 return on this bet and break even.

However, if Eva Dickson doesn’t win and finishes outside the top three, your bet loses (£10 loss).

Is there an easy way to find out what an each way net will return?

When the odds and fractions combine on each way betting calculations, working out what they are worth can be tricky, but fortunately you do not have to.

There are two very easy ways to see what you could potentially land in returns from any each way bet.

Bet Slip

Almost every bookmaker bet slip will show you what the potential total return for your bet will be if your selection wins.

Bet Calculator

However, if you want to know what just the place part of your each way bet will pay, you can use one of many online bet calculators to show this clearly by inputting the key factors of your bet as outlined above.

Each way betting is popular because it is simple, and because you can leave the calculations for your bet to the bookmaker! Leaving the punter to focus on picking the selections that are going to secure a return on the bet!

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How to calculate each way bet returns?

How does an each way bet work?

What are the key factors when calculations an each way bet?

An example of an each way bet calculation - horse racing

Is there an easy way to find out what an each way net will return?

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