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How to calculate each-way bets

Updated March 23, 2017

Each-way bets are a form of betting in which there are more than two competitors vying for the same title. For example, in the English Premier League, there are 20 teams in the league. An each-way bet will place a bet on the team finishing first and the team placing. This way, an each-way bet is actually two bets. You will need to calculate the second bet to calculate the winnings on the bet. An each-way bet can win two times if the team comes in first place.

Determine the odds and the amount of the bet. For example, a person bets £6 on a horse to win, then places an each-way bet. The odds the horse wins is 16-1.

Multiply the bet by 1/4. In the example, 16-1 times 1/4 equals 4-1.

Multiply the bet amount by the first odds to calculate winnings on the bet to win. In the example, 16-1 times £6 equals £96, if the horse wins.

Multiply the bet amount by the second odds to calculate winnings on the bet to place. In the example, 4-1 times £6 equals £24.

Add together the winnings if the bet wins the top spot. In the example, if the horse wins the race, then £96 plus £26 equals total winnings of £122.

Warning

You should only gamble in places where gambling is legal.

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About the Author

Carter McBride started writing in 2007 with CMBA's IP section. He has written for Bureau of National Affairs, Inc and various websites. He received a CALI Award for The Actual Impact of MasterCard's Initial Public Offering in 2008. McBride is an attorney with a Juris Doctor from Case Western Reserve University and a Master of Science in accounting from the University of Connecticut.