Each Way Terms - 4 places at 1/4 odds

If the Each Way Terms are 4 places at 1/4, this is what happens:

My horse is a winner

This means you will be paid for your win part of your bet at the odds chosen when you placed the bet and for the place part of your bet at 1/4 of your odds.

Example:

Bet Stake:£20
(£10 for the horse to win, £10 for the horse to place)Bet Type:each way betOdds:7/4Returns:£41.88
Please note that deductions might apply if there was a non runner in the race.
Calculation:WIN PART (£10Stake + 17.50 Win) + PLACE PART (£10Stake + 4.38Place)].

 

My horse finished second

This means you will be paid only for the place part of your bet at 1/4 of your odds.

Example:

Bet Stake:£20
(£10 for the horse to win, £10 for the horse to place)Bet Type:each way betOdds:7/4Returns:£14.38
Please note that deductions might apply if there was a non runner in the race.
Calculation:PLACE PART (£10Stake + £4.38Place).

 

My horse finished third or fourth

This means you will be paid only for the place part of your bet at 1/4 of your odds.

Example:

Bet Stake:£20
(£10 for the horse to win, £10 for the horse to place)Bet Type:each way betOdds:7/4Returns:£14.38
Please note that deductions might apply if there was a non runner in the race.
Calculation:PLACE PART (£10Stake + £4.38Place).

To calculate the place part you just need to divide the odds - in this example 7/4 - by the Each Way Terms (1/4) --> 7 divided by 4 = 1.75 so the odds will change from 7/4 to 1.75/4.
£10 at 1.75/4 = £4.38 (+ your £10 stake).