Is there value in each way betting

[pokerplayer28]

Im finding it difficult to calculate if there is really value betting eachway, based on that some of the returns the horse won instead of 2nd or 3rd,

i could just double my stake on the win part and not place any money on the each way part.

iv added a picture to explain better, that the place part shows a loss unless the horse won.

[MCLARKE]

There can be value but it depends on a number of factors.

These include 

Places available

Number of runners

The spread of the odds, races where there is an odds on favourite could provide a good each way bet, especially where there are a lot of big priced outsiders.

So in your example if it was a 5 horse race and the favourite was 1/5, your selection was 10/1 and the remaining 3 horses were 33/1 then an each way bet would be a good bet.