Settle expert women inside the racecourse (7)

I believe the answer is:

paceway

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'racecourse' is the definition.
I don't know anything about this answer so I cannot tell whether this works.

'settle expert women inside' is the wordplay.
'settle' becomes 'pay' (paying is a kind of settling).
'expert' becomes 'ace' (ace can informally mean very good).
'women' becomes 'w' (standard abbreviation).
'inside' indicates putting letters inside.
'ace'+'w'='acew'
'pay' enclosing 'acew' is 'PACEWAY'.

'the' acts as a link.

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I've seen this clue in the Sydney Morning Herald.

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