- Quick Answer
- What is an each-way bet: the win part and the place part
- What is an each-way bet: how place terms work
- Each-way terms by sport
- What is an each-way bet: worked examples with ₦1,000 stakes
- Example A — Horse racing: wins at 10.00
- Example B — Golf: places at 12.00
- Example C — Football: top goalscorer at 21.00
- Example D — Dead heat for a place
- What is an each-way bet: extra places and dead heats
- What is an each-way bet: each-way in multiples
- When an each-way bet makes sense
- Each-way mistakes to avoid
- Each-way betting in Nigeria
- Frequently asked questions
- What is an each-way bet in simple terms?
- How much does an each-way bet cost?
- How many places does an each-way bet pay?
- What happens if my selection dead-heats for a place?
- Can I place an each-way bet on football?
- Is an each-way bet better than a win bet?
- Conclusion
What is an each-way bet? It is two bets in one: one on your selection to win, and one on it to place. In short, you pay twice the unit stake for two chances to win. For example, a ₦1,000 each-way bet costs ₦2,000 in total.
Last updated: November 2026
Quick Answer
- Two equal bets: one to win, one to place.
- ₦1,000 each-way costs ₦2,000 in total.
- The place part pays 1/4 or 1/5 of the win odds.
- A win pays both parts; a place pays the place part only.
- Only bet what you can afford to lose.
What is an each-way bet: the win part and the place part
One each-way bet holds two equal bets on the same selection. Firstly, the win part backs your selection to finish first, at full odds. Secondly, the place part backs it to finish in the paying places, at a fraction of the odds. In other words, you back the same horse, golfer or player twice, on two different outcomes.
As a result, the two parts settle on their own, so three outcomes are possible.
| Outcome | Win part | Place part | What you collect |
|---|---|---|---|
| Selection wins | Pays at full odds | Pays at place odds | Both parts |
| Places but does not win | Loses | Pays at place odds | Place part only |
| Finishes outside the places | Loses | Loses | Nothing |
In short, a win pays twice and a place pays once. Moreover, the place part counts a win as a place too. Above all, remember the cost: the stake you enter is the unit stake, so you pay twice.
What is an each-way bet: how place terms work
Place terms have two parts: the places paid, and the fraction of the win odds. The most common fractions are 1/4 and 1/5. In other words, the place part pays one quarter or one fifth of the win odds.
In practice, place odds equal 1 plus (win odds minus 1) times the fraction. For example, 10.00 at 1/4 gives place odds of 3.25, while 10.00 at 1/5 gives 2.80. As a result, 1/4 pays more than 1/5.
In addition, more places mean more ways to win, but often a smaller fraction. Therefore, read both numbers on the slip: the places and the fraction. Terms vary by bookmaker, event and market.
Each-way terms by sport
Horse racing sets the standard terms by field size and race type. The bands below are the standard UK terms, based on the runners that start.
| Runners | Race type | Places paid | Fraction |
|---|---|---|---|
| 2 to 4 | Any | Win only | No each-way |
| 5 to 7 | Any | 1st and 2nd | 1/4 |
| 8 or more | Non-handicap | 1st, 2nd and 3rd | 1/5 |
| 8 to 11 | Handicap | 1st, 2nd and 3rd | 1/5 |
| 12 to 15 | Handicap | 1st, 2nd and 3rd | 1/4 |
| 16 or more | Handicap | 1st to 4th | 1/4 |
Moreover, a non-runner can change the terms: eight runners dropping to seven pays two places at 1/4, not three at 1/5.
| Sport | Typical each-way terms |
|---|---|
| Horse racing | See the bands above |
| Golf | 5 places at 1/4; majors 6 to 12 places at 1/5 |
| Football | Outrights only, never single matches; top scorer often top 4 at 1/4 |
| Greyhound | 6 runners: 2 places at 1/4; 8 or more: 3 places at 1/5 |
Full guides: horse racing guide, golf guide and greyhound guide.
What is an each-way bet: worked examples with ₦1,000 stakes
In short, each example uses ₦1,000 each-way, so each costs ₦2,000 in total. All odds are decimal odds, and every return includes the stake.
Example A — Horse racing: wins at 10.00
Take a horse at 10.00, with 3 places at 1/4 odds. The place odds are 3.25. A win returns ₦10,000 plus ₦3,250: ₦13,250, a profit of ₦11,250. Second or third returns the place part only: ₦3,250, a profit of ₦1,250. Outside the first three, both parts lose.
Example B — Golf: places at 12.00
Take a golfer at 12.00, with 5 places at 1/4 odds. The place odds are 3.75. A win returns ₦12,000 plus ₦3,750: ₦15,750, a profit of ₦13,750. Third place returns the place part only: ₦3,750, a profit of ₦1,750. A missed cut loses both parts.
Example C — Football: top goalscorer at 21.00
Take a striker at 21.00, top 4 at 1/4 odds in a top-goalscorer market. The place odds are 6.00. A top-scorer finish returns ₦21,000 plus ₦6,000: ₦27,000, a profit of ₦25,000. Third place returns the place part only: ₦6,000, a profit of ₦4,000. Outside the top four, both parts lose.
Example D — Dead heat for a place
Take the horse from Example A again: 10.00, 3 places at 1/4, place odds 3.25. It ties for third with one other horse, on the last paying place. As a result, the dead-heat rule halves the place stake: ₦500 at 3.25 returns ₦1,625. The win part loses, so ₦1,625 is the whole return: a loss of ₦375.
What is an each-way bet: extra places and dead heats
In practice, bookmakers often offer extra places as a promotion, paying more places than the standard terms on big races and tournaments. For example, a big-field handicap may pay five places instead of four, and the Grand National often pays six places at 1/5 odds. However, extra places apply only to bets struck with that bookmaker on those terms.
Extra places often come with a smaller fraction: six places at 1/5 pays less per place than four places at 1/4. Therefore, compare the whole offer, not just the number of places.
In short, a dead heat is a tie for a position. When selections tie, the bookmaker divides the stake on the affected part by the number tied, then settles the reduced stake at full odds. Two horses dead-heating for first halves the win stake, while a tie for the last paying place halves the place stake, as Example D shows. In fact, dead heats are common in golf and in top-goalscorer markets, where two strikers often finish level on goals.
What is an each-way bet: each-way in multiples
An each-way multiple runs two multiples side by side: one on the win side, one on the place side. As a result, the bets double, and so does the cost.
| Multiple | Bets win-only | Bets each-way | Cost at ₦1,000 stake |
|---|---|---|---|
| Double | 1 | 2 | ₦2,000 |
| Treble | 1 | 2 | ₦2,000 |
| Patent | 7 | 14 | ₦14,000 |
| Yankee | 11 | 22 | ₦22,000 |
| Lucky 15 | 15 | 30 | ₦30,000 |
A Yankee has 11 bets, so an each-way Yankee has 22: 11 win bets and 11 place bets. Moreover, the place side counts winners and placed selections, while the win side counts winners only. Above all, check the doubled total before you confirm: a ₦1,000 each-way Yankee costs ₦22,000, not ₦11,000.
When an each-way bet makes sense
In practice, each-way betting suits long-priced selections in big fields. As a result, the place part alone can return a profit when the odds are long. For example, the horse in Example A returns ₦3,250 on the place part alone, a profit on the ₦2,000 stake.
In contrast, short odds break the safety net. Take a ₦1,000 each-way bet at 3.00 with 1/5 place terms. The place odds are 1.40. A win collects ₦4,400, but a place-only finish collects ₦1,400 from ₦2,000 staked, a loss of ₦600. Above all, remember what is an each-way bet: two bets, not one, so the odds must be long enough to cover the doubled stake.
Each-way mistakes to avoid
Firstly, forgetting the doubled cost: a ₦1,000 each-way bet costs ₦2,000, and a ₦1,000 each-way Yankee costs ₦22,000.
Secondly, backing short-priced favourites each-way: the place part alone cannot cover the doubled stake at short odds.
Thirdly, skipping the place terms: the places and the fraction decide the return, so read them on the slip.
Moreover, treating each-way like a win bet: the place part pays far less than the win part.
Furthermore, chasing losses with bigger each-way stakes: doubling the unit stake doubles the total cost.
Finally, betting each-way on a single football match: each-way applies to outrights such as top goalscorer, not to single-match markets.
Each-way betting in Nigeria
Nigeria regulates betting at state level. The Supreme Court nullified the National Lottery Act 2005 on 22 November 2024. As a result, the National Lottery Regulatory Commission framework applies only in the Federal Capital Territory (FCT). State regulators license betting, for example the Lagos State Lotteries and Gaming Authority.
Only people aged 18 or older may bet. Registration uses the NIN slip and BVN, both 11 digits long. Therefore, register with the name that matches the BVN-linked bank account. Above all, never share a password or one-time code with anyone.
Frequently asked questions
What is an each-way bet in simple terms?
Two bets in one: half your stake backs a win, half backs a place. You pay twice the unit stake for two chances.
How much does an each-way bet cost?
The unit stake times two. For example, ₦1,000 each-way costs ₦2,000: ₦1,000 on each part.
How many places does an each-way bet pay?
It depends on the sport and field size. A horse race with 5 to 7 runners pays 2 places; a handicap with 16 or more pays 4. Check the slip.
What happens if my selection dead-heats for a place?
The bookmaker halves the place stake for a two-way tie, then settles it at the full place odds.
Can I place an each-way bet on football?
Yes, on outrights such as tournament winner and top goalscorer. Single-match markets are win-only.
Is an each-way bet better than a win bet?
It depends on the odds. Each-way suits long prices in big fields; a win bet pays more when your selection wins.
Conclusion
In short, what is an each-way bet? It is two bets in one: a win bet at full odds and a place bet at a fraction of the odds. The stake doubles: a ₦1,000 each-way bet costs ₦2,000. Above all, read the place terms on the slip. For more guides, visit the Betting Academy.
Bet Responsibly: Only people aged 18 or older may bet. Betting is entertainment, not income. Only stake what you can afford to lose. Above all, if betting stops being fun, stop, and seek help. See our responsible gambling page.
