Work out what an each-way horse racing bet pays. Enter the odds, your stake and the place terms, choose whether your horse won, placed or lost, and see the return on both parts of the bet in rand.
An each-way bet is two bets of the same stake, so R10 each-way costs R20. Dead heats are settled by dividing the stake by the number of horses in the dead heat. This calculator doesn’t apply Rule 4 deductions for withdrawn runners. For information only. 18+.
What is an each-way bet?
An each-way bet is two bets in one: a win bet and a place bet, each for the same stake. If your horse wins, both parts pay. If it finishes in the places but doesn’t win, only the place part pays, at a fraction of the win odds. If it finishes outside the places, both parts lose.
Place terms explained
The place terms set how many places pay and what fraction of the odds you get. They depend on the number of runners and the type of race. Typical terms are:
| Runners | Places paid | Fraction of odds |
|---|---|---|
| 5–7 | 1st, 2nd | 1/4 |
| 8–15 | 1st, 2nd, 3rd | 1/5 |
| 16+ (handicap) | 1st–4th | 1/4 |
Terms vary between bookmakers and races, so always check the terms shown on the race card before you bet.
How to use the each-way calculator
- Choose your odds format (fractional, decimal or American) and enter the horse’s odds.
- Enter your stake per part. An each-way bet is two bets, so R20 each-way costs R40 in total.
- Pick Each-way or Win only, then choose the place terms your bookmaker offers for the race (1/4, 1/5 or 1/6 of the odds).
- Choose the result: won, placed or lost. If there was a dead heat, select how many horses dead-heated.
- Read the win part, place part, total return and profit or loss in rand.
Example
You bet R20 each-way (R40 in total) on a horse at 8/1 with 1/5 place terms. The place odds are 8/1 × 1/5 = 8/5, or 2.60 in decimal.
- It wins: win part R180 + place part R52 = R232 back, a R192 profit.
- It places: place part R52 back, a R12 profit.
- It’s unplaced: you lose R40.
Need to switch between fractional and decimal odds? Use our odds converter.
Frequently asked questions
Why does an each-way bet cost double?
Because it’s two bets. A “R10 each-way” bet is R10 on the win and R10 on the place, so R20 in total.
Can an each-way bet lose money even if my horse places?
Yes. At short odds the place part may not cover the losing win part. For example, at 2/1 with 1/5 terms, R10 each-way returns only R14 if the horse places, a R6 loss on your R20.
What is Rule 4?
If a horse is withdrawn after you bet, the bookmaker may reduce your winnings with a Rule 4 deduction, because the race became easier to win. The deduction depends on the withdrawn horse’s odds. This calculator doesn’t include it.
Play responsibly. No betting strategy guarantees a profit. Only bet what you can afford to lose, and set deposit limits in your accounts. For free, confidential help, call the South African Responsible Gambling Foundation on 0800 006 008. See our responsible gambling guide. 18+ only.