Each Way Bet Calculation
So, your horse has romped home (or just crept into the places) and you want to know how much you have won after placing an Each Way bet. The each way aspect of a bet indicates that you are betting on two different outcomes such as a horse winning or just placing top three - see the example below which explains how a bet of this kind works in detail.
You have backed Vicente for £5 Each Way at a price of 20/1. The each way terms of the race are six places at a fifth of the odds. He romps home to win so you will be paid as follows:
£5 at 20/1 pays £105 (£5 x 20 = £100 plus your £5 stake back).
A fifth of 20/1 is 4/1 (20 divided by 5) so the place part of the bet is paid as £5 at 4/1 = £25 (£5 x 4 = £20 plus your £5 stake back).
WIN plus PLACE = £105 plus £25 = £130.
If your horse finished 2nd, 3rd, 4th, 5th or 6th then you just get the place returns of £25, while the win part of your bet is lost.
Checking Each Way Terms
On your betslip you can quickly see the E/W terms just below your selection. On this particular selection by ticking the E/W box you would be accepting a fifth of the odds (1/5) and the place aspect of the bet will cover 1st, 2nd and 3rd places.
What the place terms are and how many places are paid generally depend on how many runners are in the race: