Calculate exact returns for each-way bets across all place terms and finishing positions.
An each-way bet is two bets of equal stake: one on your selection to win, one to place. If it wins, both parts pay. If it places only, you collect the place part at reduced odds.
Place odds are a fraction of win odds. At 1/4 odds on an 8.00 selection: (8−1) ÷ 4 + 1 = 2.75. The fraction depends on the bookmaker and event type.
Each-way offers most value on selections at 10/1+ in competitive fields. On short-priced favourites, the place fraction returns very little — win-only is usually better.