I've tracked a few races - and it seems that placing separate Win and Place bets gives better overall odds than using the single EW market...
Is there a historical record where this can be checked over the long term?
If the EW market does offer less value - then why does it even exist? What benefit do the punters get from it?
BetFair - Is the Each Way market pointless?
I've never touched them but I can see a purpose for them. They are a different market altogether, liquidity is low, place odds in the EW markets are usually better than the place markets and you can trade them for free bets, even if you can't green-up.