How To Make Money From Extra Place Offers

Reading Time: 8 minutes

Josh Hughes
Head Of Content

Introduction To Extra Places

Extra place offers are an advanced matched betting offer that runs each day on horse racing. It's not available on every single race, but it can be very profitable.

Some bookies run this offer daily on a handful of races (anywhere from 1 race to 10 races!). Other bookmakers will only run it for major events, such as Cheltenham and Royal Ascot.

So what is the offer exactly? Well, it's very simple.

The idea is that a bookmaker may be paying more places in a horse race than the betting exchange. If your horse finishes in that extra place, then you will make a profit.

If the bookmaker is paying 4 places, and the lay market is for your horse to finish in the top 3, then you're hoping the horse finishes 4th! That's it.

So unlike other horse racing offers, where you might want your horse to come first or second, you're hoping your horse comes in the extra place. This might be 3rd, 4th, or 5th, depending on what the extra place is on the race.

The best part about this offer is that your profit will be paid as CASH. No free bets to mess about with!

To qualify for this offer, your back bet must be an each way bet, as opposed to a regular back bet on the "to win" market. So, you need to know what an "Each way" bet is.

  • Extra Place offers are on pretty much every day with a few select bookies but the odds aren't always great. This is best done at weekends and big horse racing festivals.

What Is An Each Way Bet?

When you're placing an each way bet, you're betting on two different things. You're betting on 1) the horse to win, and 2) the horse to finish in the top few places.

The top few places varies, but it's usually to finish in the top 3, top 4 or top 5 of a race.

When placing an each way bet, your stake will be doubled. This is because you are effectively placing two separate bets, despite it being placed as one bet.

Lets say you bet £5 each way on a horse. Your total stake would actually be £10, split as follows:

£5 on the horse to win the race

£5 on the horse to finish 1st-3rd (or the specified number of places)

When you place an each-way bet using Matched Betting, you will have to lay both bets separately.

First you will place a lay bet on the win market, then you would place a lay bet on the place market.

You will always need to make sure that exchange places paid are the same, or less than the bookmaker is paying. The exchange places can never be more than the bookmaker or your funds will be at risk.

For example:

  • 5 Places paid by bookie & 4 by exchange = Fine because if horse is 5th you will win both bets, and if 1-4 you will win one and lose the other.
  • 4 places paid by bookie & 5 by exchange = NOT fine, your funds are at risk if the horse is 5th, as you will lose both the back and lay bets.
  • Whatever you type in the "stake" box when placing an each-way bet is doubled. This is because you are betting on both the win and place markets.

How To Lay An Each Way Bet

When placing each way bet, you are splitting your bet into 2. Part on the horse to win, and part on the horse to place.

You need to place 2 lay bets, one on the win market, and one on the place market - it's that simple!

To do this, you should use the Profit Accumulator Each Way Calculator.

The win part is exactly the same as you have done before on horses. Enter the back and lay odds into the calculator and lay the amount that comes up. The place part of the bet is slightly different as you will need to check the e/w terms (each way terms) for the bookmaker. They will look something like this.

All 3 of the bookmakers above have the same each-way terms. They are paying places 1,2,3, and they are paying at odds of 1/5 (one fifth). What this means is that if the horse is odds of 10.0 to win, they will pay 1/5 of that for the horse to place.

To work out what the place odds will be, you take the original win odds, minus 1, divide by 5, and add 1. So in this example, the back odds would be 10.0, and the place odds would be 2.8. ( 10 - 1 /5 +1). If the e/w terms were 1/4 odds, then you'd divide by 4 instead of 5.

But don't worry if that sounds confusing, with Profit Accumulator's Each Way Calculator, you simply have to enter the place payout (1/5) and the calculator will work out the place odds for you!

In this race, the bookies are paying 3 places. So, to have a chance of hitting the extra place, you'll need to lay the 2 places market at the betting exchange. That way if your horse comes 3rd, you will win both the back and lay bets on the place market.

Using The Extra Place Catcher

If you're serious about making profit from Extra Places, then you need Profit Accumulator's Extra Place Catcher.

The Extra Place Catcher is an incredible tool that is available to all premium members of Profit Accumulator.

If you're new to Profit Accumulator, grab a 7 day trial here!

You can think of it like an Oddsmatcher, but specifically for extra place offers. The Extra Place Catcher scans all races that are paying out an extra place in order to find you the best qualifying losses. You will then simply back and lay a horse at your desired stake, each way, and hope that it finishes in the extra place.

Below is a snapshot of what the Extra Place Catcher looks like.

This tool really is amazing as it takes all of the hassle of looking for matches out of the equation. You can simply load up the software, look at each race, and place your bets.

It also has a handy list of which races are paying extra places too!

As mentioned above, this awesome tool is only available to premium members on Profit Accumulator. Get full access to this tool, as well as all of the other Profit Accumulator features for 7 days for just £1 by clicking here!

How To Check Your Results

Once a horse race has finished, you can check the race results to see whether your horse finished in an extra place.

We would recommend using Sporting Life.

Here you can check the results of all major UK and Irish horse races.

Extra Places - 10 Beginner's Tips!

For more essential information to help you start making money from extra places, check out our article:

Got Questions?

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Got Questions?

Be a part of our awesome Matched Betting community!

Join our Facebook group now, home to over 35,000 Matched Bettors!

It's the perfect place to ask questions and get help!

Facebook Group

New To Matched Betting?

We can't wait to help you start making tax-free cash from Matched Betting!

Head over to our free Tutorials to get started!

Free Tutorials!