Betfred are one of the most popular bookmakers for residents in the UK, and a big reason for this is their special promotions. One of the offers listed on the site at the moment is Extra Places on selected horse racing. How many places they pay for each race depends on how many runners there are in each race. Generally speaking, if there are fewer than 10 runners they will pay 3 places and if there are fewer than 16 they will pay 4 places.
Examples of the extra place offer available include paying 5 Places for Each Way bets at 1/5 the odds in the 13:50 Goodwood & 15:05 Galway, 4 Places for Each Way bets at 1/5 the odds in the 14:05 Newmarket and 5 Places for Each Way bets at 1/4 the odds in the 15:35 Goodwood. In each instance, this was one extra place to the standard terms of most bookies.
This offer is available on both the online website and on mobile. The offer applies to both single and multiple bets. If there are fewer than 10 runners in any race then standard place terms will apply. This does not apply to any ante-post bets, and dead head rules will always apply. When paying 5 places, if there are fewer than 16 runners they will instead pay 4 places at 1/5 odds. The extra place bonus is always paid in cash on Betfred.
In order to complete this offer when matched betting, you must first understand Each Way Betting and Laying. The ‘Extra Places’ article in the MatchedBets.com information centre, available to Premium members, gives a very good explanation on how to do this. There is the option of covering the entire field in order to ensure that you hit the extra place bonus. However, when doing this on just one bookmaker, you may not be able to find a close match on each selection, which means you wouldn’t be able to keep qualifying losses low enough to justify playing the offer this way.
Instead, you may prefer to look for one or two best price horses which can you can back and lay for either a small profit or a very small qualifying loss. This will give you an almost risk free shot at landing a good win and will turn out to be profitable over time.
Laying each way bets is a two part process, as you will have to lay the win portion of your back bet and the each way portion. The MatchedBets.com matched betting calculator will work out the lay stake using the win odds on the back bet and the lay odds in the exchange win market. Then, you can calculate the lay stake for the places using the each way place odds for the back bet and the lay odds in the exchange place market. In order to work out your place odds, put the number in decimal form and first deduct 1, then divide by either 4 or 5 (depending on whether the odds are 1/4 or 1/5) and then add the 1 back on.
If you have picked a horse who finishes in the Extra places, winnings will be credited as cash and the offer will be complete.