Ladbrokes love to offer their online customers special promotions all throughout the year, and their horse racing offers are usually very valuable. One of these is the offer of Extra Places on selected horse races throughout the year.
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At the time of writing, there were a number of races advertised for the Extra Places offer as part of ‘Frankie’s Summer Specials’, in association with leading jockey Frankie Dettori. How many places they were paying for each race was dependant on how many runners there were. For example, Ladbrokes were paying 4 places on selected races with more than 11 runners at 1/5 odds, 5 places for selected races with more than 17 runners at 1/4 odds, and 6 places if there were more than 22 runners in the field at odds of 1/5. Please be aware that this offer is only on specific races, and these can be found in the promotions section of the Ladbrokes website. If less than the previously stated number of runners take part in each race, then standard Each Way terms will apply and the offer will not be eligible. A huge positive for this offer is that any extra winnings are always paid in cash, which in the right circumstances can make it valuable.
When using matched betting techniques in order to make money from this offer, the idea is to back a horse each way with Ladbrokes on the extra place market and lay against the same selection finishing in the place positions on a betting exchange using the normal place market. For example, for an offer that is paying 5 places instead of the usual 4, we would back EW on the 5 place market and lay off using the normal 4 place market. This means that if our selection finishes 5th, we can win both bets and make a profit.
Before attempting the Extra Places offer, you must first understand Each Way Betting and Laying. The Extra Places article in the information centre section of MatchedBets.com, available to all Premium members, gives a detailed explanation on how to do this. You must place 2 lay bets, covering the win portion of your back bet and the each way portion. The matched betting calculator can work out the ideal lay stake for you. You will have to work out the place odds yourself first though. To do this, put the odds 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.
It can be difficult to find good matches on some each way horse racing bets, making it more difficult to hit the extra place. Therefore, it is advisable to only attempt the offer with very good matches. If you have found a good match, you can back and lay for a minimal qualifying loss or perhaps even a small profit each time, giving you close to a risk free shot at landing the extra place bonus each time.