Extra places (or EPs) are something you hear a lot about when Matched Betting, especially in the run up to Cheltenham.
In this post, we’ll go through a variety of common questions that come up regarding one of the best Matched Betting offers around.
Can Anyone Do Extra Places?
Extra Places are an advanced Matched Betting strategy.
We strongly suggest having a minimum £1000 bankroll. Ideally, you will have more.
You should have - at least - completed all the signup offers and have a strong understanding of the basics of Matched Betting.
If you aren’t quite at that stage yet, don’t worry!
You can still make lots of profit at Cheltenham when new to Matched Betting - follow these tips.
What Is A Horse Racing Extra Place Offer?
An extra place offer is when a bookmaker offers to pay out more places than usual in a race.
Lots of bookies offer extra places to compete with each other and attract more punters.
How Can You Use Matched Betting To Make A Profit From Extra Place Offers?
Extra place offers are a long term strategy - you can't lock in a profit each time like with simpler reload offers like price boosts.
You can set up an extra place bet by placing three different bets:
- An each way back bet with the bookmaker
- A win lay bet at a betting exchange
- A place lay bet at a betting exchange
Providing the odds are right, these three bets give you a low risk chance of a large profit.
To learn more about each way and extra place offer bets, you should take our 4 part course here:
Can I Use Gubbed Accounts To Do Extra Places?
Absolutely. To our knowledge, if you haven’t been notified by a specific bookmaker, they all pay out extra places - with the exception of BoyleSports and Betvictor.
This makes extra places a fantastic use of gubbed accounts!
You may find that you are stake restricted on a gubbed account but you'll still be paid out for extra places (unless it's with BoyleSports or BetVictor).
Do More Extra Places Mean More Value?
Yes! If a bookie is offering more than one extra place then this is brilliant for you as a Matched Bettor.
For example, if Sky Bet are offering 5 places and the exchange is 3 places, you’ll win if your horse comes 4th or 5th.
This means you have double the chance to hit the extra place compared to if they were offering one extra place.
What Is The Minimum Number Of Runners Required For The Extra Place?
If a race starts with too few runners, then the bookie will drop the number of places that they'll pay out on each way bets.
This makes it important to have a good idea of how many runners are needed for the bookie to still pay out the extra place.
This changes based on the bookie and the race in question, but you can find more information and minimum runner tables here.
What Happens If The Odds Move Quickly Just Before The Race Starts?
The bookmaker and betting exchange odds will move rapidly just before the start of races.
You can find great matches just before the race starts. But it can open yourself up to the risk of losing money with unmatched bets.
If you want to play it safe, then it is important to get your bets sorted well before the race start time. We would recommend newbies always make sure their bets are matched comfortably before the race starts.
Can I Use Shared Liability To Make The Most Out Of My Bankroll?
Yes absolutely! There are often several bookies offering extra places for the same race.
This means you could potentially cover multiple horses with the use of shared liability (explained here)
Shared liability comes into play when you have lay bets on different selections of the same event on the same exchange.
Usually, it's impossible for all these outcomes to occur, so the amount of liability is reduced.
For example, in a specific horse race, you have lay bets against Horse A and also Horse B, it's impossible for both Horse A and Horse B to win. As a result, your liability will be much lower than you may have initially thought.
Useful to know: If you are doing each-way bets on horse-racing offers shared liability on the 'place' markets won't occur until after you've bet on more horses to place than there are available places.
For example, if you are laying on the 'To Place 3' market, shared liability won't occur until you are laying off a 4th horse in that market. Shared liability basically comes into force when it's impossible for all the lay bets to lose. It's possible for 3 horses to finish in 1st, 2nd and 3rd, but impossible for 4 horses to do so.
Got More Questions on Extra Places?
We’ve got you covered!
Recently, Monika and Andy, two of our expert Matched Betting team, did a live Q&A session with our members on extra places and advanced horse racing offers.
You can join our Facebook Group and watch a recording of that top-notch session here.
Alternatively, you can just ask your questions directly in the Facebook Group or Forum Community. The team and our experienced members will likely get back to you in a flash!
Need a helping hand with Matched Betting?
Our Facebook Group, which has over 40,000 members, is a great place to ask for help and ask questions, especially if you are new to Matched Betting. Our community forum is also a great place to ask for help and advice.
Alternatively, you can also contact us directly for support too.
Interested in Getting Started Matched Betting?
Alternatively, upgrade to our Platinum Membership here. You can easily make the cost of your monthly membership back within one hour once you get the hang of things. Talk about value for money!