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This guide briefly explains about extra place offers in matched betting, including what these offers are, how we make money from them and how to find the tools you need to complete these offers quickly and easily.
For those who do matched betting long-term and who easily hit £800+ in profits per month, horse racing extra place offers are a key part of their strategy. Especially at weekends.
To do these offers successfully a decent matched betting cash float and balance in Smarkets are essential. Additionally, you will also need an Oddsmonkey Premium Account to do these offers because of their awesome Extra Place Matcher Tool.
Above you can see an example of the Extra Place Matcher in action. In brief, you can see if you followed the matcher and did 3 £10 each-way bets on each horse at each bookmaker, and then layed them off as shown at the exchanges, you would have a total qualifying loss of £3.87, but could potentially win either £65.27 if the horse Capriolette came in the extra place, £20.98 if Medieval came in the extra place, or £16.38 if Kings Slipper came in the extra place.
You could of course just opt to do one horse of your choice in this race aswell. We often bet on multiple horses if we can though to increase our chances of a horse hitting the extra place and to spread our liability at the exchange.
Here’s an example on another very profitable race we did via the matcher as well:
In this example you obviously wouldn’t want to bet on all the four horses shown at 10 bet, but you could pick one high odds one (such as River Arrow) and then a lower odds one (such as Innesa) – as this is something normal punters tend to do. You could then additionally do the horse Agusta Gold at Sky Bet.
In this case, following the matcher and doing the 3 £10 each-way bets on each horse, and then laying them off as shown by the matcher at the exchanges, you would have a total qualifying loss of just £1.60, but could potentially win either £72.32 if the horse River Arrow came in the extra place, £29.32 if Agusta Gold came in the extra place, or £29.26 if Inessa came in the extra place.
River Arrow did actually come in 5th (the extra place that 10bet were paying out) in this race and we consequently made a nice overall profit of £70.72!
Not bad for a few minutes work with the help of the Oddsmonkey Extra Place Matcher.
The examples above give a hint of just how profitable this strategy is in the long-term.
This strategy works because you are essentially getting massive odds – compared to what a normal punter is getting – for a horse finishing in the extra place (see the ‘implied odds’ column in the matcher).
We are currently writing a detailed guide for you to follow on the best approaches for doing extra place offers (with videos), but for now we highly recommend reading the Oddsmonkey written guide here and watching their video guide here.
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