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(of a bet) divided into two equal wagers, one backing a horse or other competitor to win and the other backing it to finish in the first three: [as adjective]: he could be worth an each-way bet [as adverb]: we put the same bet each way on a horse
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[as adjective] to come first, second, or third in a race, considered from a betting point of view: Travado has an each-way chance