Open Championships 2022 - Extra Place Offers Guide
One of the most prestigious golf tournaments, the Open Championship, starts this Thursday at 7am.
Whilst we don't tend to see too many free bet offers on such tournaments, extra places could be very lucrative. In fact, the bookies are paying up to 7 extra places!
With plenty of time to place bets before the tournament begins and the sheer number of extra places on offer, this could be a fantastic introduction to extra places if you're yet to give them a go.
Keep reading to discover how you could profit from extra place offers on the Open Championship this week!
- All bets should be placed before 7am on Thursday 14th July.
- Any bets that you place may tie up your funds until the end of the day on Sunday.
What Are Extra Place Offers?
You may be familiar with extra places on horse racing, but they can also be very lucrative on major golf tournaments like the Open Championship.
Extra places are where a bookmaker is offering to pay more places on each-way bets than the betting exchanges.
With extra place offers, we can place a matched each-way bet for a small qualifying loss to potentially make a big profit if our player finishes in one of the extra places. If for example the bookie was paying 8 places and the exchange were paying 5 places, you would hit an extra place (and therefore profit) if your player finished in 6th, 7th or 8th.
(If you are not familiar with each-way bets, please see the "What Is An Each Way Bet" section of our Extra Places guide)
Most of the bookies are offering extra places on the Open Championship, with three bookies offering 12 places! The standard for this tournament is 5 places, meaning there are up to 7 extra places on offer!
Which Bookies Are Paying Extra Places?
Almost all of the bookies are offering extra places on the Open Championship, but the number of places offered does vary. Below you will find a list of the main bookmakers offering 8 or more extra places.
There are a number of bookies paying 6 or 7 places, however you should prioritise the bookies that are paying 8 of more places to give yourself the best chance of making a profit. For the full list of extra place offers, head over to Outplayed.
Betfair Sportsbook - 12 Places - 10 and 8 places also available with higher odds.
Betway - 12 Places
Paddy Power - 12 Places - 10 and 8 places also available with higher odds.
BoyleSports - 11 Places
Sky Bet - 11 Places - 14 and 8 places are available with differing odds.
Betfred - 10 Places
Coral - 10 Places
William Hill - 9 Places
888sport - 8 Places
Bet365 - 8 Places
Bet600 - 8 Places
Betboro - 8 Places
BetGoodwin - 8 Places
BetMVP - 8 Places
Betzone - 8 Places
BresBet - 8 Places
Fafabet - 8 Places
Fitzdares - 8 Places
Hollywoodbets - 8 Places
JenningsBet - 8 Places
Ladbrokes - 8 Places
McBookie - 8 Places
NE-Bet - 8 Places
Planet Sport Bet - 8 Places
QuinnBet - 8 Places
RhinoBet - 8 Places
Star Sports - 8 Places
The Pools - 8 Places
VBet - 8 Places
Virgin Bet - 8 Places
All bookies are offering a Place Payout of 1/5.
How Much Bankroll Will I Need?
Golf extra place offers typically require you to place bets on players with odds of 10.0 or greater. Placing lay bets on selections with such high odds will require a large liability at the betting exchange, so its important that you have a good sized bankroll before attempting this offer.
We would recommend having at least £500 bankroll available if you want to attempt golf extra places.
You should also always make sure that you check how much exchange liability will be required before placing your back bet, to ensure you have sufficient funds available.
You can benefit from Combined Liabilities when completing golf extra place offers. This means that you will only need enough funds in your betting exchange to cover the single largest liability on the win market, and the five largest liabilities on the place market.
How To Complete Extra Place Offers
We are going to split extra place offers up into 5 simple steps. Don't be put off by the fact there's 5 steps, they're quick and easy to complete.
Step 1. Choose your bet
Step 2. Back the player each-way
Step 3. Lay the win
Step 4. Lay the place
Step 5. Record your result
Before we begin, sign up to, or re-join Outplayed. Whilst it's possible to do extra places manually, it can be time consuming and you're very unlikely to find the most profitable opportunities.
In this guide, we're going to be using Outplayed's Extra Place Catcher. This is an amazing oddsmatching tool that compares the bookmaker odds to the exchanges to find the each-way bets that will minimise your qualifying losses, and maximise your extra place profits.
Step 1 - Choose Your Bet
Like with any matched bet, our goal is to choose players where the back and lay odds are as close as possible. But, here we have to consider both the win odds and the place odds of a player. This makes it very difficult to see what the best matches are.
This is a great reason to use Outplayed's Extra Place Catcher.
(7 day Outplayed trial available here)
First, open the Extra Place Catcher. Under select event choose the "Open Championship 2022".
Then in Filters, select which bookies and betting exchange/s you plan to use. Then click Apply.
The Extra Place Catcher will now show you which players have the lowest qualifying loss as well as the potential profit if those players finish in an extra place.
Whilst picking bets with low qualifying losses is important, you should also prioritise bets on the bookies that are paying the most extra places. It would, for example, be better to take a slightly larger qualifying loss on a bookie paying 10 places rather than one paying 8 places.
Also bear in mind that the higher the back odds, the more money you will need in your betting exchange to lay your bets. So we would recommend focusing on players with odds of around 10.0-30.0.
Step 2 - Back A Player Each-Way
Once you've chosen which player to bet on:
- Open the Outright Winner market of the Open Championship at your chosen bookmaker.
- Add the player to your betslip.
- Tick the E/W option.
- In the stake box, put half of your total stake. So if you want to bet £5 each-way (£10 total), then put £5 in the box. You should then see your total stake displayed.
This should look something like this:
Step 3 - Lay The Win
To calculate our lay stake for the win, we can either use the Extra Place Catcher or the Each Way Calculator on Outplayed.
I'd recommend using the built in calculator on the Extra Place Catcher.
First, enter your each-way stake into the calculator (red square on image above).
So if we bet £5 each-way (£10 total) so would enter 5 on the calculator.
Next, in the Win Lay section (blue square on image above), double check that the odds are the same at the betting exchange.
You can now see the amount to lay at the exchange, and your liability. In the above example, we're laying £4.32 at lay odds of 22.0, for a liability of £90.68.
Go ahead and place your win lay bet now.
Step 4 - Lay The Place
We've now laid half of our each-way bet, but still need to lay the place part.
Again, we can use the Extra Place Catcher to quickly calculate our lay stake.
First, check that the displayed place lay odds are the same as the exchange odds. Make sure you are looking at the Top 5 market at the betting exchange.
You can now see the amount to lay on the place market, and your liability. In our example above, we're laying £4.18 at odds of 5.5, for a liability of £18.82.
Go ahead and place your place lay bet now.
You've now placed a matched each-way bet! Nice work!
Step 5 - Record Your Result
On the right hand side of the Extra Place Catcher you will see two columns:
- Qualifying Loss
- Extra Places Profit
I would recommend that you make a note of both your qualifying loss and the extra place profit.
This way, you will be able to easily tot up your overall profit or loss once the tournament has finished.
Step 6 - Repeat
You can place bets on multiple different players to give yourself the best chance of hitting some extra place profits.
Just remember to keep your qualifying losses as low as possible and ensure you have a suitable bankroll for each bet (but don't forget combined liabilities should help).
Matched bettors often place a few bets on the same bookie (say on 2-3 different players), but the more you do this the more it may increase your chance of being gubbed. So try to spread out your bets across different bookies where possible. But, don't forget to prioritise the bookies that are paying the most extra places.
Join The Discussion
Got any questions about golf extra places?
Found a great extra places bet?
Want to discuss which players you've bet on?
Head over to the dedicated post in our Facebook Group to join the discussion: