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How do I calculate my winnings on an each way bet?

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Win: £5 at 20/1 pays £105 (£5 x 20 = £100 plus your £5 stake back). Place: A fifth of 20/1 is 4/1 (20 divided by 5) so the place part of the bet is paid as £5 at 4/1 = £25 (£5 x 4 = £20 plus your £5 stake back). Total Returns: WIN plus PLACE = £105 plus £25 = £130.
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