“EW” in horse racing stands for an “each way” bet. The term is mainly used in Europe, but the same technique can be applied in any pari-mutuel setting. An EW wager is essentially two bets, one backing an entrant to win and another to place, or run second.
So if you bet a $2 EW, your cost would be twice the basic unit, or $4 in this case. If your competitor runs first or second, you will collect either two payoffs – win and place – or one if it’s a runner-up finish. Most experienced bettors prefer to focus on win bets, but if you like an entrant at long odds, an EW wager may make perfect sense.
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