WHAT IS AN EACH-WAY BETTING
Each-way betting is a type of wager commonly used in horse racing and other sports.
It is a combination bet consisting of two separate wagers: one bet on the selection to win the race or event, and another bet on the selection to place (usually finishing in the top three or four positions, depending on the number of runners in the race).
The each-way bet is essentially two bets in one, with half of the total stake going towards the win bet and the other half going towards the place bet. If the selection wins the race, both parts of the bet win.
If the selection finishes in a place position but does not win, only the place part of the bet wins, with the payout being at a fraction of the win odds (e.g. 1/4 or 1/5 of the win odds). If the selection does not win or place, the bet is lost.
Each-way betting can provide a higher chance of a return on the bet compared to a simple win bet, but it also requires a larger stake as it is effectively two bets.
The payout for the place part of the bet is generally lower than the win odds, but it provides a level of insurance in case the selection does not win but still performs well.