An each way bet has two components to it, firstly a win aspect where you, for instance, back the horse you hope will win a race. The other half of the stake however, goes on the horse being placed (typically the first three places, but its dependent on the size of the field). This type of bet ensures that if the horse doesn’t win, you still have the opportunity to win the place part of your bet. Depending on the odds of your initial selection this could result in you making a profit even if your horse doesn’t win the race.
