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 An Each Way bet is a Win and a Place bet combined. You can bet Each Way on all races with 5 or more runners. Because an Each Way bet combines two bets it will cost you double your stake e.g. €10 E/W bet will cost you €20. i.e. €10 on the Win portion and €10 on the Place portion.
Consequently there can be more than one outcome:
For Example in a 15 runner race you place a 10 E/W bet on number 7. The Win dividend is €15.00 the place dividend is €3.00.
Outcome 1: Your horse finishes 4th
If your horse finishes outside the number of qualifying runners for a place (e.g. 8-15 runners we pay 1st, 2nd, or 3rd) then you lose your stake.
Outcome 2: Your horse finishes 2nd
If your horse finishes second then it has been placed. You lose the win portion of your bet. However, as it has placed you get paid the place stake. Using the above example you get €10 by your place dividend €3.00, thus you collect €30.
Outcome 3: Your horse Wins
If your horse wins you are entitled to the win and place portion of your bet. Using the above example you collect the following:
€10 Win x Win dividend €15.00 = €150
€10 Place x Place dividend €3.00 = €30.
Thus you walk home with €180 including your investment of only €20.
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