What are each way terms?
How the place part pays, such as "a fifth the odds, 1-2-3": a fifth of the win price for finishing first, second or third.
In practice
The terms decide how much the place part of an each way bet pays. "A quarter the odds, 1-2-3" on a 12/1 shot means the place part pays at 3/1 if the horse finishes in the first three. Bigger fields usually mean more places.
The Funteron way: fans should not need to know any of this to have a bet. Funteron is designed to show every bet in plain words and in money: what it costs, what comes back if it wins and what you lose if it does not.
Related terms
Examples are illustrations, not live prices. Terms vary by bookmaker. 18+. Please gamble responsibly.