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How can you make money betting each-way on horse racing? here we take a close look at each-way betting and show you betting; how to bet each way on horse racing;. Betting on horse racing for dummies are you with a group of friends betting on horses at the racetrack? a fun way to bet $1 pick 4 using two horses in each. Explaining different types of bets. each way. you bet on a horse to a yankee consists of 11 bets involving 4 selections in different events. the bet.