Extra place offers are a must if you’re serious about maximising your matched betting profits.

Bookmakers will often pay an extra place on select events such as big horse races or golf tournaments. This gives us an opportunity to risk a small amount for big returns.

Extra place offers are available to all customers, even those who have been gubbed, so it’s a great way of boosting your profits each day.

What is an extra place offer?
Before reading this guide, it’s important that you have an understanding of how each way bets work. If you’re unfamiliar with each way bets, please see the ‘Each way betting explained’ section at the beginning of my Each Way Arbing guide.

I’m going to focus on horse racing as that’s by far the most popular type of extra place offer. As mentioned above though, keep an eye out for extra place offers on other sporting events, particularly big golf tournaments.

Generally speaking, all bookmakers tend to pay the same amount of places, depending on the amount of runners and the type of race as follows…

The ‘Place’ market at the betting exchange usually matches the standard amount of places paid by the bookmaker, so when a bookmaker offers to pay more places than the betting exchange, it gives us an opportunity.

We can simply place our each way bet at the bookmaker and then lay the individual ‘Win’ and ‘Place’ parts at the betting exchange.

Let’s say the bookmaker is paying 4 places and the exchange market is for 3 places. If our selection finishes in exactly 4th place, we’ll win the place part of our each way bet at the bookmaker (because our selection finished in the top 4). We’ll also win our place lay bet at the betting exchange (because our horse didn’t place in the top 3).

As you can see, it’s the place part of our bets that give us an edge and the potential to make some rather tidy profits.

Don’t worry if that doesn’t quite make sense at this point, things will become clearer as we work through an example.