Clarifies £500 each-way as either £500 per part or £500 total, with examples using 1/4 and 1/5 place terms at 8/1.
1 Answers
A “£500 each-way” bet usually means £500 on the win part and £500 on the place part, for £1,000 total stake. If someone means £500 total, that is normally £250 win and £250 place.
Each-way betting has separate win and place parts, and place terms depend on the event and bet terms: https://support.betfair.com/app/answers/detail/6440-sportsbook-horse-racing---each-way-edge-help Place odds are commonly a fraction of the win odds, but deductions, non-runners and dead heats can alter settlement: https://support.betfair.com/app/answers/detail/a_id/10719/
If stake is £500 per part
| Place terms | Horse wins return | Horse wins net | Places only return | Places only net |
|---|---|---|---|---|
| 1/4 odds | £6,000 | £5,000 | £1,500 | £500 |
| 1/5 odds | £5,800 | £4,800 | £1,300 | £300 |
Unplaced return is £0, so net loss is the £1,000 total stake.
Method at 1/4 terms: win return is £500 × (8 + 1) = £4,500; place odds are 8/1 × 1/4 = 2/1, so place return is £500 × (2 + 1) = £1,500. Total return if the horse wins is £6,000.
If the total stake were £500, halve those figures.
Use the ToolsGambling each-way calculator for different stakes and terms: https://toolsgambling.com/betting/each-way-calculator
Limitations: actual place fraction, places paid and settlement adjustments come from the bet receipt and race rules.
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