 £50 each-way on a football team 'to win the cup' at 15-2 and the odds a place 1 or 2 would cost £100.A £10 each-way single on a 10-1 selection in a horse race and paying the odds a place 1, 2, or 3 would cost £20.The number horses and the type of race generally determines the number of places paid out and the fraction of the win odds used for settling the place part of an each way bet.