PGA Championship Matched Betting Guide
One of the most prestigious golf tournaments, the PGA Championship, starts this Thursday at 1pm.
Whilst this won't be as big as events like the Cheltenham Festival, the bookies are running offers and there are some fantastic opportunities to make money.
In particular, extra places could be very lucrative, with the bookies paying up to 6 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 can profit from the PGA Championship this week!
- All bets should be placed before 1pm on Thursday 19th May (other than in-play price boosts).
- Any bets that you place may tie up your funds until the end of the day on Sunday. Consider leaving some funds available for any weekend football and horse racing offers.
Bet + Get (If) Offers & Refunds
The majority of PGA Championship offers are on extra places, but there are still some simple bet and get (if) offers that you can take advantage of. The following offers require a simple back and lay bet and you could then receive free bets if certain events happen.
Grosvenor - £1 Free Bet For Every Birdie
Key Terms - link
- Place a £10 pre-tournament bet on the Outright Winner market of the PGA Championship. Place your bet on one of the favourites as they should be more likely to score birdies.
- Calculate as 'normal' using the calculator and lay the bet at your chosen exchange.
- On Saturday, you will get a £1 free bet for every birdie or better that your player scores during the first two rounds, up to a maximum of a £20 free bet. Free bet will expire after 3 days and must be used on Golf. Calculate as 'Free Bet SnR' using the calculator and use at high odds to maximise profit.
Netbet - £1 Free Bet Per Shot Under Par
Key Terms - link
- Place a £10 pre-tournament bet on the Outright Winner market of the PGA Championship. Place your bet on one of the favourites to win as they should be more likely to be under par.
- Calculate as 'normal' using the calculator and lay the bet at your chosen exchange.
- You will get a £1 free bet for each shot your selection is under par after Round 1. Free bets will be credited within 24 hours and must be used on within 7 days. Calculate as 'Free Bet SnR' and use at high odds to maximise profit.
We should see some profitable price boosts in the run up to, and during, the PGA Championship.
A price boost is when a bookmaker offers higher odds on a bet than normal as a promotion to their customers. If the back price they are offering is higher than the lay odds at the exchange, we can place a matched bet to guarantee an instant profit. Price boosts are very quick to do and can be a brilliant way to boost your profits.
Searching the bookies for profitable price boosts can be quite time consuming, so the best way to find them is to use Outplayed's dedicated price boosts thread. Here, thousands of Outplayed members are constantly sharing any worthwhile price boosts that they find. This makes it incredibly easy for you to find price boosts and jump on them for an instant profit.
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 PGA Championships.
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 PGA Championships, with one bookie offering 11 places. The standard for this tournament is 5 places, meaning there are up to 6 extra places on offer!
Which Bookies Are Paying Extra Places?
Almost all of the bookies are offering extra places on the PGA Championships, 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.
Note: this is not a complete list. For the full list of extra place offers, head over to Outplayed.
BoyleSports - 11 Places
Betfair Sportsbook - 10 Places
Coral - 10 Places
Paddy Power - 10 Places
William Hill - 9 Places
888Sport - 8 Places
Bet365 - 8 Places
Betfred - 8 Places
Ladbrokes - 8 Places
Sky Bet - 8 Places - 10 or 12 place markets are available for lower odds.
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, I would strongly recommend that you sign up to, or re-join Outplayed.
Whilst it's possible to do extra places manually, it can be quite 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. I would highly recommend using Outplayed's Extra Place Catcher for this.
(7 day Outplayed trial available here)
First, open the Extra Place Catcher Under select event choose the "USPGA Championship 2022".
Then in Filters, select which bookies and the betting exchange that 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 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 PGA Championship at your chosen bookmaker.
Add the player to your betslip.
Now make sure that you 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 (blue 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 (red 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 £4.81 at lay odds of 27.0, for a liability of £125.19.
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 £4.29 at odds of 7.0, for a liability of £25.71.
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 the PGA Championship offers?
Found a great extra places bet?
Want to discuss which players you've bet on?
Head over to our Facebook Group where we've created a dedicated discussion post. Get involved here: