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This guide is for bettors who want to understand how each-way doubles work, how the four bets break down, how to calculate returns, and when this bet type makes sense versus simpler alternatives.
Most beginners see "each-way double" on a betting slip and assume it's just an each-way version of a normal double bet. That's half right. The structure is different enough that you need to understand what you're actually betting before you place it, because the stake quadruples and the settlement math gets complicated quickly.
How an Each-Way Double Breaks Down Into Four Bets
A standard double is two horses in separate races, both must win for the bet to pay out. Your stake is single - £10 double means £10 total.
An each-way double is four bets combined. Win-win double, win-place double, place-win double, and place-place double. Your stake quadruples - a £10 each-way double actually costs £40 total.
Here's how it breaks down. You pick Horse A in Race 1 and Horse B in Race 2, both each-way. The bookmaker creates:
Bet 1: Horse A to win AND Horse B to win (win double) - £10 stake.
Bet 2: Horse A to win AND Horse B to place (win-place) - £10 stake.
Bet 3: Horse A to place AND Horse B to win (place-win) - £10 stake.
Bet 4: Horse A to place AND Horse B to place (place double) - £10 stake.
Total stake: £40.
All four bets run independently. Depending on how the two horses finish, you can win one, two, three, or all four bets. This is why each-way doubles give you more ways to collect compared to straight win doubles - you don't need both horses to win outright.
Calculating Returns on Each-Way Doubles
The math gets messy because each of the four bets has different odds based on whether you're using win odds or place odds for each horse.
Let's use a concrete example. Horse A is 6/1 with 1/4 place terms. Horse B is 4/1 with 1/4 place terms. You bet £10 each-way double (£40 total stake).
Place odds: Horse A at 1.5/1 (6/1 ÷ 4), Horse B at 1/1 (4/1 ÷ 4).
Scenario 1: Both horses win.
All four bets pay out.
- Win-win: £10 at 6/1 and 4/1 combined = 10 × 7 × 5 = £350.
- Win-place: £10 at 6/1 and 1/1 = 10 × 7 × 2 = £140.
- Place-win: £10 at 1.5/1 and 4/1 = 10 × 2.5 × 5 = £125.
- Place-place: £10 at 1.5/1 and 1/1 = 10 × 2.5 × 2 = £50.
Total return: £350 + £140 + £125 + £50 = £665 (£625 profit on £40 stake).
Scenario 2: Horse A wins, Horse B places (doesn't win).
Two bets pay out - win-place and place-place.
- Win-place: £140.
- Place-place: £50.
Total return: £190 (£150 profit on £40 stake).
Scenario 3: Horse A places (doesn't win), Horse B wins.
Two bets pay out - place-win and place-place.
- Place-win: £125.
- Place-place: £50.
Total return: £175 (£135 profit on £40 stake).
Scenario 4: Both horses place but neither wins.
One bet pays out - place-place only.
- Place-place: £50.
Total return: £50 (£10 profit on £40 stake, or £30 loss depending how you view it).
Scenario 5: One or both horses finish outside the places.
All bets lose. You lose the full £40 stake.
The key insight is even if neither horse wins, you can still profit if both place, though the return is small relative to stake. That's the supposed advantage of each-way doubles - multiple safety nets.
When Each-Way Doubles Make Sense
Each-way doubles work best when you're backing longer-odds horses that have realistic place chances but uncertain win prospects. If you think both horses are 8/1 or 10/1 shots that will run well but might not win, the each-way structure gives you coverage.
They also make sense in competitive handicaps where fields are large and anything can happen. Backing two horses in big-field handicaps at 10/1 and 12/1 each-way gives you multiple paths to profit even if one or both don't win outright.
The bet type is less attractive on short-priced horses. If you're backing two 2/1 favorites each-way, the place odds are terrible (around 0.4/1 or 0.5/1 at 1/5 terms) and paying quadruple stake for minimal insurance doesn't make sense. You're better off just doing a straight win double at single stake.
Each-way doubles also make less sense when place terms are poor. If races only pay two places instead of three, or use 1/5 odds instead of 1/4 odds, the place portion returns less and the insurance value drops. Always check place terms before betting each-way doubles.
Another consideration is whether you actually believe both horses place. If you think Horse A definitely places but Horse B is a pure long shot that either wins or finishes nowhere, an each-way double doesn't help. You'd be better off betting Horse A each-way single and Horse B win-only, combined however you want.
Each-Way Double vs Two Each-Way Singles
This is the comparison most people should make before placing an each-way double.
Two each-way singles costs the same total stake (£10 EW on Horse A + £10 EW on Horse B = £40) but gives you independent bets. If Horse A wins, you collect on that. If Horse B places, you collect on that. They don't need to both perform for you to get returns.
An each-way double costs the same £40 but requires both horses to at least place for you to profit from the place-place combination. If Horse A wins but Horse B finishes fourth in a three-place race, you lose the entire double. With singles, you'd still collect on Horse A.
The each-way double pays significantly more if both horses perform well because you're combining odds across four bets. If both win, the each-way double returns much more than two singles would.
But here's the thing - both horses performing well is less likely than one horse performing well. You're increasing potential payout at the cost of reducing your probability of getting any return at all.
For most bettors, two each-way singles is the smarter structure. You maintain independence between the bets, you get returns if only one horse performs, and you don't need both selections to hit for profit. The only time each-way doubles beat singles is when both horses actually win or both place, which is the minority outcome.
Each-Way Doubles in Bigger Multiples
You can extend each-way doubles to trebles, four-folds, and beyond. An each-way treble is eight bets. An each-way four-fold is 16 bets. The stake multiplies exponentially - £10 each-way treble costs £80, £10 each-way four-fold costs £160.
The logic is the same as doubles - you're covering all combinations of win and place outcomes across all selections. If you have three horses and they all win, all eight bets pay out at combined odds for massive returns. If they all place without winning, the place-place-place combination still pays something.
Reality is each-way trebles and bigger are almost never worth it. The stake explodes, the probability of all selections performing drops dramatically, and the place-only combinations return so little relative to stake that you're basically hoping for all wins anyway.
A £10 each-way treble (£80 stake) where all three horses place but none win might return £40-60 depending on odds, which means you've lost £20-40 overall. You've paid for insurance you didn't really need and it didn't even cover your full stake.
Stick to each-way singles or each-way doubles maximum. Beyond that, the math works against you unless you have incredibly strong reads on multiple horses and genuinely expect all of them to win.
Place Terms and How They Change Each-Way Double Value
Place terms matter enormously for each-way doubles because half the bet (the place combinations) depends entirely on place odds.
1/4 place terms are better than 1/5 terms. A 12/1 horse at 1/4 terms gives you 3/1 for places. The same horse at 1/5 terms gives you 2.4/1. That difference compounds across a double - your place-place combination returns significantly more with 1/4 terms.
Four places paying instead of three increases your probability of collecting on place bets. In a 16-horse handicap where four places pay, both horses have better chances of placing, which makes the each-way double more attractive than in an 8-horse race where only three places pay.
Extra place promotions from bookmakers add genuine value to each-way doubles. If a bookmaker offers five places instead of the standard four on a big handicap, the probability of both horses placing increases and the value of the each-way structure improves.
Always compare place terms across bookmakers before placing each-way doubles. If one bookmaker offers 1/4 odds and another offers 1/5 odds on the same races, the 1/4 bookmaker gives you better returns on all place combinations. That difference is worth an extra few clicks.
Non-Runners and Rule 4 in Each-Way Doubles
If one horse in an each-way double becomes a non-runner, all four bets involving that horse void. Your each-way double essentially becomes an each-way single on the remaining horse.
Example: £10 each-way double (£40 stake). Horse A is a non-runner. The win-win, win-place, place-win, and place-place bets all involved Horse A, so they all void. You get £30 refunded (three of the four £10 bets that can't proceed). The remaining £10 becomes an each-way single on Horse B.
If Horse B wins, you get paid as if you placed £5 win and £5 place on Horse B (because the £10 that remained gets split between win and place). If Horse B places, you get paid on the £5 place portion only.
Rule 4 deductions apply to the remaining bet if other horses (not your selections) are withdrawn from the races. If Horse C is withdrawn from Race 1 and causes a Rule 4 deduction, any returns from Horse A in your double get reduced by that deduction percentage.
Rule 4 can affect multiple parts of your each-way double independently. If there's a Rule 4 in Race 1 and a different Rule 4 in Race 2, both affect your potential returns on different legs of the double. The math gets complicated quickly but bookmakers handle it automatically.
Non-Runner No Bet (NRNB) protects you from your selections being withdrawn but doesn't change the four-bet structure. With NRNB, if your horse doesn't run, those bets void and you get the stake back. Same result as standard non-runner rules but without risk of late odds changes affecting your position.
Common Each-Way Double Mistakes
Not realizing it costs four times the unit stake. Betting "£10 each-way double" and being surprised when £40 disappears from your account. The slip should show this clearly but people miss it and then complain about the charge.
Backing short-priced favorites in each-way doubles. Two 2/1 shots as an each-way double means paying £40 stake for bets that return minimally on place combinations. The place odds at 1/5 terms are around 0.4/1, which means your place-place bet returns maybe £14 profit on £10 stake. You've paid £40 for that structure - it's terrible value.
Not checking place terms before betting. Assuming all races offer 1/4 odds and three places when some only offer 1/5 odds or two places. The value calculation changes completely based on place terms and you need to know them before committing.
Comparing each-way double returns to single-horse payouts incorrectly. Seeing that an each-way double "won £150" and thinking that's great without realizing it cost £40 stake and required both horses to place. Two each-way singles might have returned £120 for the same outcomes at the same £40 cost but with more flexibility.
Betting each-way doubles on horses in the same race. Some betting slips allow this but it's nonsense mathematically. If you back two horses each-way in the same race, you're paying quadruple stake when they can't both win. Just bet them as separate each-way singles.
Are Each-Way Doubles Worth Betting?
For most bettors, no. The structure is complicated, the stake is high, and the supposed insurance doesn't help unless both horses perform at least adequately. Two each-way singles gives you more flexibility and similar total stake without requiring both selections to hit.
Each-way doubles only make sense in specific situations: you're backing two longer-odds horses (8/1+) in races with good place terms (1/4 odds, three or four places), you genuinely believe both horses place at minimum, and you want the increased payout if both win.
Even then, you're probably better off betting singles and using the flexibility to adjust stakes based on confidence. If you're more confident in Horse A than Horse B, bet Horse A each-way at £15 and Horse B each-way at £5. Same £40 total stake but weighted toward your stronger opinion.
The appeal of each-way doubles is the big payout when both horses win. That happens rarely enough that chasing it with quadruple stakes is usually poor strategy. Better to accept smaller, more frequent returns from singles than chase the lottery ticket of a perfect each-way double.
Sharp bettors almost never use each-way doubles. They're a product designed for recreational players who like the idea of multiple ways to win without doing the math on whether those ways are actually valuable. The bookmakers profit from the complexity and the poor expected value built into the structure.
FAQ
If both horses place but don't win, do I make a profit?
Maybe. It depends on the odds and place terms. With decent odds (8/1+) and good place terms (1/4), the place-place combination might return enough to cover your stake with small profit. With shorter odds or poor place terms, you'll likely lose money even if both place. Calculate it before betting - place odds for Horse A multiplied by place odds for Horse B needs to exceed 4.0 in decimal terms just to break even on the full stake.
Can I do an each-way double with horses in the same race?
Technically some bookmakers allow it but it makes no sense. You're paying for a win-win combination that can't happen since both horses can't win the same race. You'd be better off doing two separate each-way singles or a reverse forecast if you think both horses place. Don't waste money on each-way doubles within the same race.
What happens if one horse wins and the other finishes outside the places?
Two of your four bets lose completely (anything involving the non-placing horse on the place side). The other two bets lose because you need both legs to complete. You lose the entire £40 stake. This is why each-way doubles are risky - both horses need to at least place for any return, and even then the return might not cover your stake depending on odds.
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