Look: most punters chase the win, but the each way (EW) is the real workhorse. It hedges, it cushions, it turns a near-miss into cash.
Understanding the Mechanics
Two bets in one. One for the win, one for the place. If your horse finishes in the top N — usually 2, 3, or 4 depending on the field size — you collect the place portion.
By the way, the place fraction is typically 1/5 or 1/4 of the odds. So a 20-1 shot at 1/5 returns 4 to 1 on the place leg.
When to Deploy the EW
Here is the deal: use EW on long-shots with decent form, or on well-known stayers in big handicaps.
Don’t waste it on a 2-year-old sprint specialist — those places are scarce. Aim for races with at least 8 runners; the bigger the field, the more place slots.
Calculating Your Stake
Simple math. Bet £10 EW = £10 win + £10 place. If the horse wins, you get both payouts; if it places, you still walk away with the place return.
And here is why you should adjust the place fraction: on a 25-runner race, bookmakers often move from 1/5 to 1/4, boosting the place payout.
Common Pitfalls
Never ignore the “place terms” printed on the ticket. Some tracks use 1/3 for premium races — miss that and you’ll be left holding a losing ticket.
Also, avoid EW on a horse with a single-run history; consistency matters more than raw speed for places.
Practical Example
Imagine a 12-runner handicap, 12-1 odds, 1/5 place. You stake £5 EW. Win leg pays £60 (12 × 5). Place leg pays £12 (2 × 5). If the horse finishes second, you still pocket £12.
That’s the sweet spot: you lock in profit on the place even if the win evaporates.
Final Tip
Stop chasing the headline odds. Scan the form, spot the value, and slap an each way on the horse that looks like a dark horse with a decent place chance — your bankroll will thank you. horse racing each way guide