Extra-place bet offers in combination with matched betting has been a huge source of income for me and so I had to write an article to spread the good word.
Extra-places are my favourite way of making money using Profit Accumulator’s website, the most popular and I think the only online Matched Betting program. If you don’t know what Matched Betting is, take a look at my article here explaining how Matched Betting can make you profits by placing bets without putting your money on the line.
The amount you can win from extra-place bets is a surprise each time, sometimes it can be hundreds and other times it’s thousands, as it depends on the odds of the horse coming 5th and how much money you place on the bet.
The exciting thing is that the more you bet, the more you win, and if you can build up a nice bank with your winnings, you can say that this has the potential to not only make you extra income, but gradually wealthy.
Matched Betting and extra place offers simply require practice, you’ll learn the ins and outs by doing it and then soon you will be completing them very quickly.
What are the extra place offers from Profit Accumulator?
Some days during the week, often Tuesdays, Thursdays, Saturdays and Sundays, bookies will offer to pay an extra place in a horse race, so rather than their usual amount (1-4 places), they offer a 5th place (sometimes it is 4th place with the same rules that apply).
If you don’t know what an extra place bet is, it’s where you have the option to split your bet each way, so half on the horse winning, and half on the horse to finish the race in the first 3 or 4 places (depending on each race).
So if you bet £50 each way on a horse, and that horse comes in 3rd place, you’ll get a payout of £25 x the odds of the place bet.
So how can Matched Betting help us to make money with extra place bets?
Now we turn to Profit Accumulator and click on the Extra Places link on the Reloads page. (After you’ve signed up).
The Extra Place Horse Racing offer shows us a list of the bookies offering customers an extra place in their races on that day. Profit Accumulator is very helpful as they research all of the bookies offering this Extra place so we don’t have to.
With Matched Betting, we use Betfair and Smarkets (sometimes Betdaq, Matchbook, Ladbrokes) to place our ‘lay bets’. We are betting the horse doesn’t make it into the first 4 places (sometimes the bookie offers an extra 4th or 6th place and so the lay bet race will be paying to the first 3 places, but most of the time it is 4.)
So when a horse you’ve bet on makes it into 5th (or 4th or 6th depending on the race) place with a bookie, you’ll win money with the bookie and because it didn’t make it into the first 4 (or 3) places with the lay bet, you win with that bookie too.
So, in order to make money on these extra place offers, is you have to place as many bets on horses as possible with as many bookies as possible (so you don’t get banned) to increase your chances of winning an extra place.
I have completed many of these extra place offers and I aim to get at least 6 horses covered, but 8 is the recommended minimum, though it depends on the race and how many horses are running.
The Matched Betting Process
First, we check the information on the Extra Place link on Profit Accumulator’s Reload Offers page.
Then we make a note of all the bookies, how many extra places they’re offering and the fraction.
Then go to Profit Accumulator’s Oddsmatching link.
Go to the filter and in the search bar fill in the name and time of the race, check the appropriate bookies under the Bookies option.
You should leave this tab open, if you want alerts for when the oddsmatcher finds matching odds along with slightly faster scanning you will have to sign up to Profit Accumulator’s Match Catcher at £9.99 a month.
Go for odds that are rated above 90%, 87% & up if you’re desperate, as it results in a lower qualifying loss.
When you have found matching odds, don’t bother using Profit Accumulator’s calculator, instead, you will be using a very useful spreadsheet to fill in the following:
- The name of the race
- The bookie used
- How many places the bookie is paying
- The horse’s name
- The amount you’re betting each way
- The win odds
- The place fraction (if 5 places = 0.2 if 4 places = 0.25)
- The place odds (find these in the PDF giveaway below)
- The win lay commission
- The winning lay odds
- The winning place odds
You won’t be needing to enter anything else, it may sound like a lot but this is a spreadsheet and the information can be multiplied by clicking the black cross that shows up when you hover on the right-hand corner, if you hold that whilst scrolling down (or any direction) the information you’ve entered can fill the rest of the rows automatically. So when there is a day with multiple bookies having the same information, you can save time by doing this.
This spreadsheet is very helpful because it not only keeps track of our extra place bets, but also includes prefixed calculations, so when you enter the odds and your betting amount, the spreadsheet tells you how much to put on your lay bet. So when we use this spreadsheet, we don’t need to use Profit Accumulator’s calculator, saving us a lot of time. You can receive a link download the spreadsheet and place odds PDF after you have signed up and email email@example.com with the words ‘Extra Place’.
So when you’ve got your winning lay bet amount and place lay bet amount, you should just type the number into the winning lay bet (right option) first without pressing enter (never place a lay bet before a win bet), this is because the odds might change and once we’ve placed the bet with the bookie, we want to do make our lay bets as quickly as possible to keep the odds close together.
Then scroll down to the separate list of place bets, choose the right hand option and type in the place bet.
Now go to the appropriate bookie and make your each way bet. Make sure you check the EW button.
Once that is placed then go to your lay bets and place both of them (quick).
One Horse at a Time
So now you know how to make an extra place bet, you will have to repeat this process with every new match that the oddsmatcher finds for you.
In order to get as many horses as down as possible, you should start early in the day. Well practiced matched betters will start their spreadsheets from 7-8 in the morning and catch 8+ matching odds throughout the morning until the race starts. This way it won’t seem like as much work as it will be spread out and completed little by little. It can also very fun to find the matching horses and get excited about all the money you’ll earn.
Most extra place matched betters keep their eye on the forum and help each other out by posting matching odds in there. As Profit Accumulator’s oddsmatcher doesn’t find matching place odds, only matching winning odds, then it is helpful to let others know on the forum when you find a good place match, and vice versa.
As I said at the start of this post, like most things, this requires practice, and with money at the other end of each time you practice, you should get a lot of it!
Please go to Profit Accumulator to find more information on the extra place bets. I guarantee you won’t regret it!