AZRusty,
EW means each-way, which is betting for the win & the place.
example
Lickliter 50/1 ew 1/4 1,2,3,4 for $10
you place TWO bets
$10 on Lickliter to win at 50/1
$10 on Lickliter to finish 1st,2nd,3rd or 4th at 1/4 the odds = 12.5/1
should Lickliter win, you get paid on BOTH bets.
If he runs a place, you still make a handy profit.
Note the placings in golf are often tied, so the payout could be lower...
eg
X -20
Y -18
A,B and Lickliter -16
First and second are clearcut, so the remaining places to pay on are 3rd and 4th, but there are three players to pay on. Thus the payout is 2/3 the face value of the ticket.
Let's face it, unless you're backing Tiger every week, essentially you are backing longshots so you should be backing your selections each-way.
Also note that the terms of each-way (1/4 1,2,3,4 etc) change from bookie to bookie. Surrey & SportingOdds offer 1/4 1,2,3,4,5 - a much better deal, Hills offer 1/4 1-4 or 1/5 1-5, all Aussie books offer 1/4 1-4. These bookies will also give you updated markets after each round, and their terms will change from day-to-day (for new bets only - once you are set, you are set)
The concept of each-way betting is totally foreign to US offshores, and their computer systems aren't built to handle it, so don't expect to see any there, although Olympic offer separate win & 'show' markets.