The difference between By far and Far and away
By far is also phrase with the meaning: to a considerably large extent, easily.
Far and away is also adverb with the meaning: by a large degree or margin.
check bellow for the other definitions of By far and Far and away
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Far and away as an adverb (idiomatic):
By a large degree or margin; greatly.
Examples:
"Their formatting and organization is far and away better than their closest rival."