An Each-Way (E/W) bet is a bet consisting of two separate parts - a win part and a place part. The win part of the bet is on your selection to win the event, and the place part is on your selection to finish either first or within the race/event's specified place terms (e.g. 2nd, 3rd, 4th, etc).
The bet is very popular in horse racing since it allows you to be paid out even if your horse doesn't finish first.
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