If you bet money each way
on the result of a horse race or a dog race, you will
win some money if the animal you bet on comes first, second, third, or sometimes fourth
In the last race I put £20 each way on two outsiders.
...a $10,000 each way bet on Minnehoma at 33-1.
If you say
that something is a good each way
bet, you mean that you think
it is a good thing to support or invest
in because it is unlikely
Large overseas-based trusts are an excellent each way bet.
...a good each way investment.
COBUILD Advanced English Dictionary. Copyright © HarperCollins Publishers