Each way bet

An each way bet involves two parts - a win bet and a place bet. Both of the bets are split equally so a £10 each way bet would mean £10 on the selection to win and £10 on the selection to place - so the stake would total £20.

If a selection places then the returns will be paid at a fraction of the odds, usually 1/4 or 1/5 but this can vary depending on the bookmaker so be sure to check.