1.
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. ( BRIT )
In the last race I put £20 each way on two outsiders.
ADV : ADV after v
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Each way is also an adjective
...a $10,000 each way bet on Minnehoma at 33-1.
ADJ : ADJ n
2.
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 to fail. ( BRIT )
Large overseas-based trusts are an excellent each way bet.
...a good each way investment.
ADJ : ADJ n