Evidence-first racing research

How to Calculate an Each-Way Return

A worked framework for calculating the win and place portions of an each-way bet.

Calculate the win and place portions separately, then add their returns.

Method

Split the total stake into equal win and place stakes. Settle the win portion at the win odds if the selection wins. Settle the place portion using the stated place fraction and eligible finishing position. If the horse only places, the win stake loses while the place side may return.

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Last editorial build: 23 September 2026. Content is informational and does not guarantee betting outcomes.