The payout for an each way multi is calculated differently to a standard multi bet. Each way Multi Bets are worked out in the order legs finish in time, not the order they are placed in. For example, if the leg listed 2nd on your bet finishes first it will be worked out as the first leg in your bet.
Example 1
For the Each Way bet below, if Spellmaster (the first leg) comes second, the payout will be $5 x $1.40 = $7. So, $7 will now be the new stake amount for the next leg ($3.50 on Echelon to win and $3.50 on Echelon to place). This process continues on until a leg looses both the win and place portions (in which case, the whole bet will be a loss).
Example 2
If you have $20 staked on a 3 leg each-way multi, the payout will be calculated like this:
Leg 1:
Total stake: $20
Win portion stake: $10
Place portion stake: $10
If the runner in the first leg wins the race with win odds of $3.50 and place odds $1.30, the payout is how a standard each-way bet is paid out.
Win Portion Payout: $10 x $3.50 = $35
Place portion payout: $1.30 x $10 = $13
Total payout for Leg 1: $35 + $13 = $48
The total payout from Leg 1 is our new stake size for Leg 2:
Leg 2:
Total stake: $48
Win portion stake: $24 (Total stake divide by 2)
Place portion stake: $24 (Total stake divide by 2)
If the runner for Leg 2 only runs a place with win odds of $34 and place odds of $5.5, the payout for this Leg is paid out as below.
Win Portion Payout: $24 x $0 = $0
Place portion payout: $24 x $5.5 = $132
Total payout for Leg 2: $0 + $132 = $132
The total payout from Leg 2 is our new stake size for Leg 3:
Leg 3:
Total stake: $66
Win portion stake: $66 (Total stake divide by 2)
Place portion stake: $66 (Total stake divide by 2)
If the runner for Leg 3 wins the race with win odds of $1.95 and place odds of $1.10, the payout for this Leg is paid out as below.
Win Portion Payout: $66 x $1.95 = $128.70
Place portion payout: $66 x $1.10 = $72.60
Total payout for Leg 3: $128.70 + $72.60 = $201.30