An each-way bet is a simple way of combining a win bet and a place bet. It consists of two wagers: one wager to win and one wager to place.
The each-way terms will be clearly displayed on the market. In sports betting, these terms are fixed when you place your bet and will not change. In horse racing, however, the terms may occasionally change after the bet has been placed due to non-runners.
Each-Way Bet Example
$10 each way on the Boston Celtics at 14/1, with 1/2 odds for two places, in the NBA Outright market.
Your total stake would be $20: $10 to win and $10 to place.
If the Boston Celtics win the NBA Championship, your total return would be $230.
This consists of a $150 return from the win wager and an $80 return from the place wager (14/1 divided by 2 = 7/1).
If the Boston Celtics finish second, your total return would be $80.