Horse Racing – Extra Place Offers
This is a great offer when they pop up. The best way to profit from this is to try and cover the field. Naturally there are high/low odds horses and due to this we can vary our stakes to get an approx. average outcome.
Doing this manually, the best place to start looking is in the ‘Place’ market on BF, also I would have Oddschecker open to see who has the best odds on the horses.
If u don’t know how to work out the each way part on the back odds, then the formula is, for e.g. Horse 13, take back to fractions = 12/1. You divide this by the place odds. So, if bookie paying out on 1/4 odds it would be 12 ÷ 4 = 3. Take back to decimal is 3 + 1 = 4. Therefore 4 would now be your place back odds. You need this to work out your lay on the Place in the exchange. If bookie paying 1/5 odds on place then u need to divide by 5. This info is always available at top or bottom of the specific race.
You can just use standard calculator and work out your lay as 2 separate bets, so, your bets would be. E.g. 13 / 13 win & 4 / 4 place with whatever stake u wish to use. Advice would be to use low stakes to start with, just like any offer you’re new to.
Just because a horse is 67 at the bookie and 90 in the exchange this doesn’t mean it’s to be discounted. Why? Because the Place odds in the exchange can negate the loss on the win part, hence it’s best to look at the place part in the exchange first. On the last race I covered all 5 horses at odds of 67 with zero loss.
Some people ask or quote ‘you got to have a lot of money in the exchange to be able to cover that’. This isn’t so, there can only be 1 winner on the Win part in the exchange. This means that only your largest liability on one horse will actually figure and then you’ll find your exchange going back up again with the more horses u lay. The PLACE part is different because the exchange is covering 4 places, so, your first 4 horses will be deducted from your balance but then thereafter, once again depending on your largest liability, the lays won’t register or your balance will start to go up.
The reason this offer is so good is because when the bookie is paying an extra place the exchange ‘Place ‘ is only covering 4 instead of 5, which means if your horse comes 5th, not only do u win in the bookie u also win in the exchange.
On the race last Saturday I started backing and laying on the Friday evening, horses with odds of 67, there were some cracking arbs on the place part. It’s not always so easy, I only managed to cover 14 horses of the 22, but, one of the outsiders came 5th resulting in £90 profit. My max e/w was £25, my minimum was £6, used various bookies to cover horses.
Extra place offers can be great earner and are well worth attempting if you can find good matches.