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Matched Betting Each Way Calculator

Calculate the win and place lays for an each-way bookmaker bet. Enter your stake per part, win odds, each-way terms and both exchange prices to see separate lay stakes, liabilities and the result for each finishing outcome. Use this calculator when hedging an each-way bet on an exchange; it is free to use without signing up.

How to use the Matched Betting Each Way Calculator

  1. Select the correct Bet type: Qualifying bet, Free bet: SNR, or Free bet: stake returned.
  2. Enter EW stake (per part). £10 each way means £10 win plus £10 place, a £20 cash outlay in Qualifying mode.
  3. Enter Win odds, EW terms (the denominator, such as 4 for 1/4) and bookmaker Places.
  4. Under Lay Win and Lay Place, enter each market’s Lay odds and Commission (%). Set the exchange place count to the market you will lay.
  5. Review both lay stakes, liabilities and Results. Check First place, Standard place and Doesn’t place before placing the bets.

Modes and outcomes

A cash qualifying bet includes the cost of both stakes. SNR excludes the promotional stake from a winning return; SR includes it. Use a free-bet mode only if the promotion permits each-way betting and settles both parts on that basis.

A qualifying loss is the negative combined result after the bookmaker and exchange bets settle. The cheapest-looking win lay is not necessarily the best overall match: place odds and commission matter too.

Worked example

Cash each-way bet

Use £10 per part, bookmaker win odds 5.00, quarter odds (1/4), four places at both bookmaker and exchange, win lay odds 5.00 and place lay odds 2.00. Set all commission to zero; assume no settlement deductions.

Lay £10 on the win market (liability £40) and £10 on the place market (liability £10). The combined result is £0 for a win, a standard place or no place.

These are illustrative inputs, not current market prices or typical returns. The result assumes matched bets and the stated settlement terms.

Adjustments and changing odds

Custom win and place stakes deliberately change the balance between outcomes. Check both result columns after an adjustment. Rule 4 deductions, dead heats and different settlement terms need a separate check; this interface does not provide a Rule 4 adjustment.

Frequently asked questions

Is the entered stake the total each-way outlay?

No. It is the stake on each part. £10 each way uses £20 across the win and place bets.

Why are there two lay bets?

The bookmaker bet has separate win and place parts. Each needs the corresponding exchange market and its own price.

What does 1/4 odds mean?

The place profit odds are one quarter of the win profit odds. Win odds of 5.00 therefore give place odds of 2.00.

What if the bookmaker pays more places?

Use the Extra Place Calculator and compare the extra-place result separately from the ordinary outcomes.

Why do the outcomes differ by a few pence?

Lay stakes and liabilities are rounded to currency precision. Small differences can accumulate across the two markets.

Related guides and calculators

For a standard single back-and-lay calculation, use the Matched Betting Calculator.