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Each Way betting

An Each-way bet consists of two separate bets, a Win and a Place. 

If your runner finishes 1st in the race, you will collect both the Win and the Place dividend. If your horse finishes 2nd or 3rd you will collect the Place dividend. 

Note: The Place potion is dependent on the number of runners in a race.

Example
You place a $50 each-way bet (total stake $100) at Win odds of 12.00.

Result: your runner finishes 1st in the race.

Calculate the return on each bet

Win Return

Win Odds: 12.00
Total amount bet (stake): $50
Return: $600 (stake $50 x 12)

Place Return
Place Odds: 4.00
Total amount bet (stake): $50
Return: $200 (stake $50 x 4) 

Lastly, calculate your total return:
Return: $800 (Win return $600 + Place return $200)
Win (profit): $700 (return $800 – stake $100) 

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