Each-Way AtlasGlossary: each-way, odds and racing terms
Place terms
Place terms are the number of finishing positions that are paid and the fraction of the win odds used to pay the place part of an each-way bet. The place odds are worked out as the win odds multiplied by that fraction. A worked example is on the page about what each way means. In UK betting they appear on race cards and in each-way terms.
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What the term means
An each-way bet is two equal bets: one on the horse to win and one on it to be placed. Place terms set the rules for the second bet.
They have two parts. The first is how many places are paid. The second is the fraction of the win odds that applies to the place part.
Both are set by the bookmaker for each race, and our guide to places and fractions explains how they link to the number of runners.
The short version: place terms say how many places are paid and what fraction of the odds each of them earns.
How the place part is worked out
In words: the place odds equal the win odds multiplied by the place fraction. Only the profit on the place part is scaled; the stake on that part is returned if the horse is placed.
The place fraction is written as a simple fraction, for example 1/4 or 1/5. A larger fraction pays more for the same win price, which is why two bookmakers can show the same win odds and different place returns.
Why this matters to you: the fraction is applied to a price you may not have looked at closely, and a small change in it moves the place return more than most punters expect.
For numbers, use the each-way returns calculator. A unit stake is the amount on each of the two parts, as defined under unit stake.
Where you meet it
You will meet place terms on a race card and on the bet slip before you confirm, and in the each-way section of an operator's terms. Our page on reading place terms on a race card shows where to look.
Operators can change terms on a given race, so a term read on one day describes that day only.
| Operator (candidate; licence to be confirmed) | How the rules describe place terms | Date read |
|---|---|---|
| bet365 | Not verified | Not verified |
| William Hill | Not verified | Not verified |
The dated table of published terms will be in standard place terms.
Common mix-ups
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Place terms are not the same as extra places, which are a temporary offer on one race. * The place fraction is not a percentage of your stake. It applies to the odds.
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"Each way" does not mean that you win both parts: if the horse only places, the win part is lost.
The short version: read the places and the fraction together, because one without the other tells you little.
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