When viewing an Outright Betting market for a Tennis Tournament you will see a notation similar to the following, Each Way terms: 2 places, 1/2 odds.

2 places means when you place an each-way bet it will pay on 1st and 2nd place.

The ½ odds refers to the odds for the place rather than the win. You can calculate this by taking the odds displayed on-site, then minus 1, then multiple by ½. Finally, you add the $1 back on. For example:

A player has odds of $5 to win the tournament. To calculate the place odds;

$5 - $1 = $4.
$4 x ½ = $2.
$2 + $1 = $3.

The odds for the player to place, in this case, is $3.

If your selection withdraws prior to the commencement of the tournament, all outright bets will be refunded (void). If your selection withdraws after playing at least one point in the tournament, outright bets will be settled as a Loss.