Horse Racing Extra Place Matched Betting - How to earn profit from this offer
The horse racing extra place matched betting extra places offer is an advanced horse racing matched betting strategy (and very profitably at horse racing festivals like Cheltenham and the Grand National).
The strategy is triggered when bookmakers occasionally run extra places offers.
As with the 2up (Early Payout) offer, there’s not guaranteed profit each time (such as there is with simple matched betting through sign-up offers), but overall it can be a highly profitable technique.
This post will delve into the matched betting extra places offer, look at what’s required to carry it out, the potential profits, any pitfalls in the approach, and the matched betting extra places calculator.
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Horse racing extra places is similar to the Early Payout (2up) stratgey.
It’s important to remember that you can go through periods without profit (equating to small losses).
All advanced techniques have a high-profit potential but also take tenacity, patience and good luck despite in the long run being plus EV offers.
The Horse Racing Extra Places offer
With extra places, you back a specific horse hoping that this horse finishes in the “extra place” at the end of the race (often 5th / 6th).
For example, when a bookmaker is paying out ‘each way’ on four places instead of the usual three, your hope when backing your horse is that it finishes in this extra place!
This is because we lay only the four places. If the horse finishes in the extra place, we win our bet with the bookmaker and as we haven’t laid those places we gain great profit (there is no lay bet to match away our profits as it were).
Horse Racing Each Way Bets and Extra Places
When people refer to ‘each way extra four places’, they are talking about this extra place and likely about the offer and the potential for profit that exists.
Often matched bettors will want to check if Willliam Hill is paying out on 5th place, for example, and which Paddy Power extra places and Betfred Extra places today can be run.
Remember, an each-way bet is different to a regular bet as it’s effectively two bets in one. One bet is on the horse to win, and the other is to ‘place’ (such as in 2nd 3rd etc.…)
Important – when we do each way matched betting we place an each-way back bet with the bookmaker, and then we lay at the exchange the win market AND the place market (the extra places strategy actively ignores laying the additional places offered by the bookmaker with their promotion, and we profit when our horse finished in other of those places).
Matched Betting Extra Places Strategy
With regular betting, you want your horse to finish in the top 3 (when you have bet each way) or in the first place when you have backed it to win.
With this offer, we’re looking for the particular outcome of your horse coming in the extra place (*4th, 5th, or whichever the extra place is) for you to trigger the offer instead.
We explain below how to carry out the extra places strategy and earn significant profits through the offer.
The matched betting extra places offer can provide the most significant part of your ongoing profit from matched betting if played correctly and if you run well.
Extra places are hugely lucrative as, unlike welcome offers, you are not free bet limited, so the profit potential is significant (even from single races).
Extra places aren’t even only for horses, you can run it on golf (tournaments), but we’re not going to cover it here (it can be pretty complex and run over several days).
Extra Places Strategy - Earn from the Offer
So how do we gain profit from the offer?
The horse racing extra places strategy is possible since the exchange will not offer us the ability to lay off bets on the bookmakers’ extra places! Or we can choose to only lay the top 4 places.
The trick is to get your head around the fact that this is good for us!
Your lay bet at the exchange will only cover off the places covered by the each-way bet (the extra places won’t be covered), and your won lay bet will have ‘won’ to the effect that the horse will not finish within those places.
If the horse did finish in any of the each-way places, the back bet will have won.
These two outcomes are a matched bet that, at worst, loses us our (small) qualifying bet amount if the offer didn’t work out that time.
However, suppose your selected horse finishes in the extra place, 4th or 5th (whatever the extra place is), due to how we match our bets (by backing and laying every possible outcome). In that case, you will have won your back bet and there will be no relevant lay bet to take away these earnings, which brings in significant profit (the same way you earn profit from the 2up strategy, too!).
What’s more, with extra places, your winnings come in cash rather than as a free bet!
If, for instance, you had put £10 each way on a horse at 20/1 and 1/4 odds and it finished fifth, your profit would be £60, minus any qualifying losses.
When to use the Extra Places Strategy
Remember that, unlike gambling, we will lose a minimal qualifying loss; this is the same with extra places as with the 2up Early Payout offer.
Extra places offers can be discovered on most days at specific bookmakers (more on this below).
Get the best odds and make the most of the offer by completing them over the weekend or at big racing festivals such as Cheltenham Festival, the Grand National, Epsom Derby and Royal Ascot.
You receive your reward in cash, so it is all profit with no need to find further matched bets when this offer comes in!
Sometimes you can carry out this offer alongside other offers, such as the £125 refund offer that Bet365 run each year for the grand national.
Extra Places - Far from Complex!
Matched betting extra places, as you can see, is not that complex. It just feels more advanced relative to the simple offers you start with, and there is some natural hesitancy for those new to all this not to carry out forms of matched betting without instant and guaranteed profit.
We would still, though, always suggest that you start simple and only move to more complex betting when you’ve gained the experience you need.
Tenacity and confidence to continue and the bankroll to support multiple offers at once are required. Shared liability should keep the requirement for a high bankroll to a minimum (but you will still need a relatively high betting exchange balance to complete the offer).
A clear advantage is that multiple bookmakers will run the offer, especially at major racing weekends.
Matched Betting Extra Place Calculator
A matched betting extra place calculator is similar to the other calculator, explicitly targeted for the offer and lets you input the details you require for you to back and lay your selected horse each way.
Matched betting services’ tools allow you to find relevant races with available extra places filterable. In this way, you can find and calculate the smallest losses to ensure the strategy works for you. Let’s now turn to the matched betting extra place calculator.
OddsMonkey Extra Places Calculator
OddsMonkey has an Each Way Extra Places Calculator at your disposal when you’re a Premium member, and Profit Accumulator also offers a similar tool.
Profit Accumulator Each Way Calculator
The Profit Accumulator calculator differs from others that are available. It has a free bet SNR mode, allowing you to place your free bets each way and still qualify for extra places, helping you make more mug-like bets and achieve as high a profit from each bet as possible.