Each-Way Betting
An each-way bet is two bets of the same amount on the same horse: one to win and one to place. A $10 each-way bet costs $20 – $10 on the win and $10 on the place.
How many places are paid
In Australia, place bets usually pay on the first three finishers when there are eight or more starters, and on the first two when there are five to seven starters. With four or fewer starters there is usually no place betting. Check the rules where you bet.
A worked example
You bet $10 each-way on a horse at $6.00 to win and $2.00 to place, a total outlay of $20.
- It wins: both bets pay. $60 for the win plus $20 for the place returns $80.
- It runs second or third: the win bet loses but the place bet returns $20, so you get your $20 outlay back.
- It runs unplaced: both bets lose.
When each-way betting makes sense
- Longer-priced runners: a horse at bigger odds pays a worthwhile place dividend. On a short-priced favourite the place pays very little.
- Bigger fields: three places are paid with eight or more runners, which gives you more chances to collect.
- Consistent horses: runners that regularly finish in the first three suit each-way betting.
Read more on each-way betting
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