Matched Betting on Golf
April 11, 2019
Generally, Golf isn’t one of the most popular sports when it comes to matched betting. However, the numerous major tournaments a year are a reason for bookmakers to run offers which means there is an opportunity to make a profit for matched bettors.
The most popular betting offer on Golf is extra places and in this article, we’ll explain how you can make a profit from them.
What are Extra Places?
Extra places apply to Each Way bets. When you place an each way bet, you are essentially placing two bets with one stake. Half of your stake is placed on your selection to win and half of it on your selection to finish in a place position. The number of places are set by the bookmaker for your back bet and by the exchange for your lay bet.
For example, if you placed a £10 Each Way bet on Tiger Woods to win the US Masters and the bookmaker was offering 5 places on each way bets, £5 of your stake would be placed on Tiger to win the tournament and £5 would be placed on him to finish 2nd-5th.
When matched betting, we usually place one back bet and one lay bet on our selection but as each way bets consist of two bets, we need to place two lay bets. One on the win part of the bet and one of the place part of the bet. You can use an Each Way Calculator tool such as the one on MatchedBets.com to calculate your lay stakes for each way bets.
Every so often, bookmakers will offer extra places on each way bets. These can apply to golf tournaments, horse races and any other event where there are multiple entries.
An example of an extra place offer would be a bookmaker offering 10 places instead of 5. This means that the each way part of your bet would win if your selection finished in places 2nd-10th rather than just 2nd-5th.
Now let’s take a look at how we can use these extra places to potentially make a profit.
Matched Betting with Extra Places
Extra places provide a no-risk matched betting way of potentially making a profit should their selection finish in one of those additional places.
Let’s say that we placed an each way bet Tiger Woods to with the US Masters with a bookmaker who was offering 10 places on the tournament instead of 5. When we lay our bet, we will be laying just 5 places as this is the industry standard number of places. By placing the back bet and the lay bet, we have covered all outcomes and if Tiger finishes anywhere between 1st and 5th place we will win our bookmaker bet and if he finishes outside of the top 5, we will win our lay bet.
However, we will also be paid out on the extra places with the bookmaker!
Therefore, if Tiger finishes 6th -10th, we will win both our bookmaker bet AND our exchange bet which should return an overall profit.
Here are the possible outcomes:
- Tiger Woods finishes 1st -5th – Win bookmaker bet
- Tiger Woods finishes 6th -10th – Win bookmaker bet + Exchange bet
- Tiger Woods finishes 10th + – Win Exchange bet
Extra places can be extremely profitable but do require a bit of luck. You’ll only make a profit if your selection finishes in the extra places which is hard to predict. You can look at past performaces for guidance which may help you pick a selection. For example, if a player has never won the tournament but regularly finishes in the top 10, they may be a good bet.
As you won’t make a profit from every extra place offer, the key is to keep qualifying losses to a minimum by finding close matches. You can use an Odds Matcher for this which will be quicker than finding matches manually.
If you wish to find the latest Golf Extra Place offers and hundreds more profitable bookmaker offers, you can join MatchedBets.com today for 14 days for just £1.