This article will look at how you can profit from backing and laying each way bets on extra place horse races.
What is an Extra Place Offer?
The Extra Place Offer involves taking advantage of the extra places offered by bookmakers in comparison to the number of places offered at a betting exchange e.g. on the 13th of September, Sky Bet had an extra place offer where they were paying 6 places instead of 4 at 13.30 horse race at Thirsk (see image below).
If we check the number of places offered on this race at a betting exchange like Smarkets, we can see that the exchange to place market is for the top 4 horses.
Therefore, there are 2 extra places being offered by Skybet.
To profit from this extra place offer, you would need to place an each way bet at Skybet, then lay that bet at a betting exchange.
If the horse finishes in 5th or 6th position in the race then we will win both our back bet at the bookie and our lay bet at the betting exchange.
This is the best case scenario for this strategy.
If your horse doesn’t finish in one of the extra places, then you will usually have to accept a qualifying loss on the race.
Therefore to be profitable over the long term, you need to keep your qualifying losses as low as possible as you will not hit the extra place on every race.
Where to find Extra Place Offers
If you are a Profit Accumulator member, then you will find a list of extra place races for that day in the reload offers section of the site.
Profit Accumulator also gives you details such as the number of extra places on offer and what each way terms the bookie is offering e.g. 1/4 or 1/5.
As a Profit Accumulator member, you will also get access to their Each Way Calculator and their Each Way Catcher, which makes finding appropriate horses to get on much easier.
Step by Step Guide to Completing an Extra Place Offer
Please see below for a guide on how I completed an extra place offer on the 13:30 horse race at Thirsk on the 13th of September 2021.
1. Load the race in the Extra Place Catcher
Login to your Profit Accumulator Account, then go to the Extra Place Catcher tool.
From the Select Event drop-down box, select the horse race you wish to complete an extra place offer on. In this example, we selected the 13:30 horse race at Thirsk.
2. Select a Horse to back each way
Next, you will need to find a horse that will you give you a low qualifying loss and has good implied odds.
Generally speaking, the higher the implied odds the better.
For example, if each time you complete an extra place offer the horse had implied odds of 10, then the horse you back will need to finish in the extra place 1 in 10 times, for you to be profitable over the long term.
For this example, I decided to place a €10 each-way bet on the horse called Kissing.
3. Place your back and lay bets
It is best to have tabs open for your bookmaker and betting exchange accounts so you can double-check the odds before placing any bets.
Once you have confirmed that the odds haven’t changed, then you can place your bets at Sky Bet, Matchbook and Betfair using the amounts given in the Extra Place Catcher.
When placing your bet at Skybet, make sure you select the Each Way (EW) option in the bet slip (see screenshot above).
4. Check the race results
Once the race has finished, you can check the results on a site like timeform.com to see if your horse finished in one of the extra places.
In our example, Kissing ended up finishing in 5th place, meaning we hit the extra place and earned the max profit of €41.03 (see payout table below)