In terms of racing bets, there is a large variety of markets to place bets on. Below you can find a description for Win, Place and Each Way bets. 

• Win Bet – A Win bet is placed on a horse or dog to finish the race in first position.
• Place Bet – A Place Bet is placed on a horse or dog to finish the race in:
  The first, second or third position, if there are 8 runners or more in the race;
  If there is less than 7 runners a place bet will be on first and second place;
  If there are fewer than 5 runners there will be no place bet offered.
• Each Way Bet – An Each Way Bet is a combined Win and Place bet. Half of the stake will be placed on the win and half of the stake will be placed on the Place.
  For example, a $1 Each Way bet = $1 on the Win and $1 on the Place for a total stake of $2.