Extra Place Matched Betting Guide

Extra place offers are among the most popular betting offers in sports betting, particularly in horse racing. These extra place offers allow for more places in a specific race to be included in an Each-Way bet. Whilst they are brilliant for the average punter and horse racing fan, they can also be used by experienced matched bettors to minimise the risk of any losses! Here, we will go through how these particular offers work, how they can be used for matched betting and how these extra places come in different forms throughout sports! 

What is an Extra Place offer?

An extra place offer is a common bookmaker promotion that is usually found throughout horse racing. However, it can also be found in other sports such as golf, greyhound racing and Formula 1. These offers allow for more place positions to be active during races, meaning if you place an each-way bet, more places will be included.

As we can see from this example from Betfred, there are different races throughout the day, which can come with more places than usual. For example, the 16:02 Limerick race is offering 4 places instead of 3, meaning if your horse finishes in 4th and you have placed an each-way bet, the each-way return will still be awarded. 

Extra place offers are typically popular among bettors as they offer more insurance for an each-way bet; with each-way bets being so popular, we have our own each-way betting guide, which is great for those wanting to learn more about this form of betting.

As shown in this example, extra place offers are among the most popular promotions offered by bookmakers. These promotions tend to be available almost every day throughout horse racing markets, making them fantastic offers to make use of. Depending on the number of horses in the race, there are different numbers of place positions included in these extra place offers. It is important to check how many places are available for each event, as some sports offer the top three as placed positions, while others offer the top 10.

How To Use Extra Place Offers in Matched Betting 

Extra place offers are some of the most popular offers to use throughout matched betting, generally because of how common they are compared to different promotions offered by bookmakers. For matched betting, the bettor is required to place a back and lay bet, so here, we would be placing a back bet on the horse to place and a lay bet on the horse not to place. By using the offer, if the horse finishes in the extra place position, we will be awarded the returns for the horse placing and the horse finishing outside of the standard place positions, as the betting exchange where we placed the lay bet will not account for the offer. 

In this example, we can see that the horse would need to finish 4th for a profit to be made, and whilst all the other positions result in a qualifying loss, this strategy is made for long-term matched betting, meaning the profit, in theory, will cover the qualifying losses when it is awarded. This means we recommend using this strategy if you have a substantial bankroll, as profit might not come around straight away.

Now that we know how these offers generate a profit and can be used in matched betting, we will go through the process of placing a matched bet using a back and lay bet.

How To Place A Matched Bet Using Extra Place Offers 

Matched betting involves covering all possible scenarios to minimise the chance of a loss. To do this, we will place a back bet on the horse to place and a lay bet for the horse not to place, therefore covering all outcomes.

Step 1:

Place a back bet at a bookmaker that offers the extra place promotion, ensuring your horse qualifies for it. 

Step 2:

Find a betting exchange (Smarkets, Betfair) that offers fewer places on the same race; these betting exchanges will usually offer the standard number of places, meaning you should have one extra place on your back bet compared to your lay bet.

Step 3:

Place a lay bet on the horse; you will have to place two lay bets, one on the horse not to win and one on the horse not to place, to ensure all outcomes are covered. 

If your horse finishes in the extra place position, a profit will be made. However, if not, a small qualifying loss will be incurred.

The objective of an extra place offer in matched betting is to create a bit of leeway to make your bet more profitable with the same minimal risk as a regular matched bet. Unlike other techniques in matched betting, which cut out the possibility of losses, the return potential of extra place offers is typically larger than that of other matched betting techniques.

Extra Places Matched Betting Example 

It always helps to see a real example of how the extra places offered can be used throughout matched betting, so we will use one that has been found through the OddsMonkey Extra place matcher tool, which is available to members. 

By using the OddsMonkey Extra place matcher, we can see that we are told exactly where to place our bets, with the bookmaker and two exchanges listed clearly. It also tells us exactly how much we should be placing on each selection. Across the top of the calculator, we can see how much the bet will return for different outcomes, with the qualifying losses being shown and the potential profit displayed.

The tool shows all the different steps of how to place the matched bet and where each bet needs to be placed across the market to create this bet, meaning no matter if you are an experienced bettor or a newbie, you will be able to follow the steps easily.

In this example, we can see that the bet can return £44.68 if the horse finishes in the extra place, whilst the place matcher also shows the potential losses that can occur if the horse finishes in different positions. The OddsMonkey extra place matcher is one of the many value betting tools that matched bettors can use to make the most of their sports betting.

How do I start Matched Betting with Extra Place offers?

To start making the most of these brilliant matched betting offers, you are going to have to find bookmakers that are offering extra places whilst also finding horse races that are offering the correct number of places. If you are not using any tools, this can be a time-consuming process as you must find horse races which offer the right odds for these offers to be taken advantage of. You can also use our Odds Matcher tool, which allows you to find which bookmakers are offering the best odds and how much you would need to actually make a profit from these bets. 

With tools such as the Odds Matcher tool, users can find the very best odds, which can be extremely useful for those looking to take advantage of extra-place offers. Not only can it be used for horse racing, but it can also display odds throughout football fixtures and more. OddsMonkey is also home to a football betting guide, which can be found on-site.

Once your accounts are set up and funded, you can find the correct offers by looking through all of the options here at OddsMonkey, and then follow the instructions to complete the offers while maximising your efficiency with calculators and your profits with proper completion. With step-by-step guides available, OddsMonkey is filled with useful tools which make the entire process of finding extra place races simpler.

Sports that provide Extra Place offers 

Horse Racing 

The most common place to find extra place offers is in horse racing betting markets. Of course, if you are getting involved in Horse Racing matched betting, it is important to understand the sport itself, too.

With the need to use markets like Each Way to secure better profits and safety, horse racing is a smart option. Betting on horse racing, especially during events like Royal Ascot, can be fascinating for average horse racing fans, even if you do not take part in matched betting. However, by taking advantage of the extra place offers, bettors can enjoy the horse racing action whilst adding an extra layer of safety with the extra place position.

Bookmaker sites such as Paddy Power have specific pages that show all the horse races and offer extra places. This is a great place to check regularly when looking to take advantage of extra races, as there are typically plenty to choose from.

Extra place offers in horse racing are very common for existing customers rather than as a sign-up offer, and you will see them more frequently during larger races and events. With our horse racing betting guide, you can find out even more about betting tips and strategies on the popular sport of horse racing!

Greyhounds 

A close second in terms of how common the extra place markets appear is in greyhound racing markets. These races take place more frequently than horse races as they typically last much shorter. You can find greyhound races mainly in the UK, but other countries do offer dog racing, and there is always a good opportunity to make quick money if you place the right bets.

Using greyhounds for matched betting could be a bit more difficult because of how quickly the races start and end. Still, if you have mastered being efficient with your bets, you may be able to utilise the extra place offers and free bets in combination to make some decent profits. If you are looking to learn more about greyhound betting, check out our greyhound matched betting guide, which is available at OddsMonkey.

Motorsports

Motorsports events like MotoGP or Formula 1 are other good examples of multi-competitor, fast-paced events from which bookmakers would offer the extra place bonus. With most motorsports taking place across weekends throughout the year, there are many different events you can take advantage of when it comes to betting across different motor races. You can matched bet on virtually any sport, but ones with multiple contenders in one event are definitely the better options. 

Using extra places in the F1, for example, would mean you could place a wager on a racer finishing in the Top 3 and then use the extra place offer to cover up to 4th or even 5th, depending on how many places your bookmaker is offering. 

Golf 

While golf is not as fast-paced or arguably as exciting as the other sports mentioned, there is plenty of opportunity for extra place offers to be used to make a profit from golf events. One event, the PGA Tour, could easily have extra place bonuses on offer from different bookmakers. The only downside with using these offers for golf is that the events last much longer, and therefore, your bet would be open for quite some time. As golf tournaments typically last 4 days, betting on golf is not as fast-paced as other sports, meaning betting on golf might not be everyone’s cup of tea.

What makes Extra Places Matched Betting so popular? 

As mentioned previously, using extra place offers while matched betting could enhance bettors’ chances of profit if done correctly. If you manage to find the best offers available, which should be easy enough using OddsMonkey, then you will be able to place some matched bets in no time. During large events such as the Grand National and Cheltenham, these offers will be much more prevalent, so it is important to keep your eyes peeled at these times of the year and make sure your accounts are created and funded.

While profit is the main benefit, another upside of using extra places offers is that they appear very frequently on different bookmakers. This is because, while horse racing is the main sport they are used for, they are also used for sports like golf and motorsports. Not only are they common due to their being used across different sports, but they are also incredibly popular throughout the online betting scene with all types of bettors.

Unlike some other matched betting techniques, the guarantee for a profit is not available when using extra place offers, as the horse can finish in any position throughout the race, and some of these positions will not return a profit. Therefore, this is a strategy we would recommend for someone who has a sizable bankroll and is able to afford the risk, as qualifying losses can occur throughout this process.

Beginner Tips For Those Using Extra Place Offers

If you are completely new to the topic, we have some top tips which you can use to start you off with extra place offers and matched betting:

1. Make sure you understand matched betting – As matched betting can be slightly confusing, we recommend that bettors check out our matched betting blog, which is available on-site.
2. Start small – We always advise bettors to start small with matched betting, ensuring they understand the technique and process before they begin using more funds. Beginning with bets of £1 to £2 is a good place to start for most beginners.
3. Make sure your bets are each way. While this sounds simple, it can easily be forgotten. When placing your bets, make sure you have placed an each-way bet; when you decide how much you are placing, the each-way bet will double the amount as each-way betting involves two bets. 

At Sky Bet, we can see that there is an (EW) icon next to the stake amount, and bettors will simply have to press the icon to place a bet each way.

1. Get 0% exchange commission – Finally, the key to extra place offers is to make sure you are getting good value bets, and you can pay 0% commission with both Smarkets and Matchbook to help you take more value by locking in smaller qualifying losses.

Making The Most of Extra Place Offers

Extra place offers are not only there for users to take advantage of for extra insurance on their horse, but using these offers with matched betting can lead to larger profits and smaller qualifying losses! 

If you are looking for other ways to bet on some of the listed sports which involve extra places, we have our very own golf betting guide and a Formula 1 betting guide, which are full of fascinating tips and tricks to guide you through the particular sport! 

Other Matched Betting Offers 

After going through all you need to know about extra place offers, there are still other matched betting techniques which can be taken advantage of throughout sports betting.

You can use any sort of offer for matched betting, whether it’s a regular sign-up offer, a random free bet, or anything else. If you are just completing regular matched betting, you can use our Matched Betting Calculator to make the maths side of the experience much easier. You can find information about various other tools and betting calculators on our site, all of which are designed to make your matched betting experience more efficient and more profitable. 

Extra Place Matched Betting FAQs 

With extra places being quite a unique topic in terms of matched betting, we are going to look at some of the most popular questions when it comes to extra places.

Can Anyone Use Extra Place Offers? 

To make use of some of these offers, users might have to be new customers to some bookmakers, as they will only allow for new sign-up offers. However, the majority of bookmakers allow any customers with an account to use these offers, and they are especially popular throughout large events such as the Cheltenham Festival.

However, in terms of matched betting, we would recommend that bettors have a sizable bankroll to ensure they can make the most of these offers, as qualifying losses can be frequent throughout this form of matched betting.

How Many Extra Place Bets Should You Place A Day? 

The larger the volume of bets being placed, the larger the chance of taking more value, which is how this betting technique works in principle. We recommend placing these bets as frequently as you can afford to, as the returns are not as high as in Straight bet markets, but feature less potential for loss.

Another tip would be to use different bookmakers and not place these bets frequently at one bookmaker, as the bookies will see this unusual activity and can restrict your account or even ban your account.

What Is The Minimum Number Of Runners Required For The Extra Place? 

If a horse race or greyhound race starts with too few runners, then the bookmaker will drop the number of places that they will pay out on each-way bets. For those who are not sure how many places are available, refer to the table below: