What is an Extra Place offer?
When it comes to matched betting, extra places are undeniably among the most profitable offers you can encounter. However, comprehending the intricacies of extra places may initially seem challenging when you first explore OddsMonkey’s extra place matcher. Yet, as with anything in life, the more time and effort you invest in learning and understanding the process, the greater your rewards could potentially be.
Regardless of the type of matched bet, whether it’s a single bet or an extra place bet, extra place offers typically cover one side of the bet using an Each Way market and guaranteeing that you are safe in all events. Rather than just covering the horse coming 1st or placing in the top 3, you will be given a bit of leniency – 1 place worth – which is where the extra place comes into play. It’s important to be mindful of the regular each way bet and what places it covers.
To try extra place matched betting, you want to find a bookmaker offering an extra place, let’s say 4 places, and then place your back bet there using the offer. Then, on the exchange side, you want to Lay the bet on the market for up to 3 places, so if the horse does finish 4th, one side of your bet is still safe. Basically, one bet covers an extra place manually, while the other uses the matched betting extra places to cover it automatically. In a situation where multiple extra places are offered, for example, the bookmaker offering 5 places and the exchange only covering 3, you are at even more of an advantage as a matched bettor. This is because there are more chances for your horse to land within the range and trigger a profit, also increasing the potential profit value.
The objective of an extra place offer in matched betting is to create a bit of leeway to make your bet more profitable with the same minimal risk as a regular matched bet. If you can find the proper matched betting extra place offers, this could be advantageous! Members of OddsMonkey Premium will have even better range in the offers available to them, so there will be something for everyone.
What is Matched Betting?
Matched betting is a form of sports and casino betting that allows bettors to minimise their risk while potentially securing a profit. It utilises free bets and welcome offers, and can be a daunting task if not researched properly. Here at OddsMonkey though, we provide you with all of the information you need to start matched betting.
Experience risk-free betting with the power of back and lay bets. By strategically placing opposing bets on both “win” and “NOT win” outcomes of a sporting event, you eliminate the element of chance and reliance on luck. This revolutionary technique, known as “back and lay” betting, enables you to potentially convert free bets into real funds without putting your own funds at risk, albeit the strategy is applied correctly. It is important to not confuse a “lose” bet with a Lay bet. Lay bets cover the back event NOT happening, rather than backing the opposite outcome specifically.
In the competitive world of online bookmakers, attracting new customers is a top priority. To entice potential bettors, bookmakers often offer enticing promotions, including free bets. These promotions could take the form of a tempting offer like “bet £10 and receive £10 in free bets.”
However, traditional betting comes with no guarantees. You might place your initial bet and utilise the free bet, only to end up empty-handed or even with less money than you started. That’s where matched betting comes in, offering a solution to unlock the full potential of free bets while safeguarding your wagered funds. What’s more, matched betting allows you to generate actual profits from those free bets!
Say goodbye to the risks associated with traditional betting by adopting the matched betting approach. With each back bet you place in favour of a specific outcome, you simultaneously place a lay bet against the same outcome, ensuring you cover all possibilities. This strategic use of back and lay bets enables you to extract profits from free bets with remarkable consistency. On average, you can expect to pocket around 80% of the free bet amount.
Matched betting empowers you to take full advantage of free bet offers while minimising risks and maximising your potential earnings. So, why rely on luck when you can rely on a calculated and proven betting technique? Explore the world of matched betting and unlock the true value of those free bets.
What makes Extra Places Matched Betting so good?
As mentioned previously, using extra place offers while matched betting could lock in margins of profit if done correctly. If you manage to find the best offers available, which should be easy enough using OddsMonkey, then you will be able to place some matched bets in no time. During large events such as the Grand National and Cheltenham, these offers will be much more prevalent, so it is important to keep your eyes peeled at these times of year and make sure your accounts are created and funded.
While profit is the main benefit, another upside of using extra places offers is that they appear very frequently on different bookmakers. This is because, while horse racing is the main sport they are used for, they are also used for sports like golf and motorsports.
How do I start Matched Betting with Extra Place offers?
Starting your extra places matched betting journey is easy with OddsMonkey. The first steps are to sign up on both our site and on some exchanges. We would recommend you try out BetConnect, a close friend of ours, who offer the best odds available for all of your lay bets, regardless of the sport. You can also use our Odds Matcher tool, which was the first of its kind and put us in the spotlight very quickly. This tool allows you to find which bookmakers are offering the best odds and how much you would need to actually make profit from these bets.
Once your accounts are set up and funded, you can find the correct offers by looking through all of the options here at OddsMonkey, and then follow the instructions to complete the offers while maximising your efficiency with calculators and your profits with proper completion. There are no confusing steps during the process, it is genuinely just based on your dedication to the process.
Sports that provide Extra Place offers
Horse Racing
The most common place to find extra place offers is horse racing. Of course, if you are getting involved in Horse Racing matched betting, it is important to understand the sport itself, too.
With the need for using markets like Each Way to secure a better profit and safety, horse racing is the smartest option. Betting on horse racing, especially during things like the Royal Ascot, can prove very exciting even without following the matched betting rules due to the stacked races, but of course, the added layer of safety is a huge benefit to most bettors.
Extra place offers in horse racing are very common for existing customers rather than as a sign-up offer, and you will see them more frequently during larger races and events.
Greyhounds
A close second in terms of how common the extra place markets appear, greyhounds step in. These races take place more frequently than horse races as they typically last much shorter. You can find greyhound races mainly in the UK, but other countries do offer dog racing and there is always a good opportunity to make quick money if you place the right bets.
Using greyhounds for matched betting could be a bit more difficult because of how quick the races start and end, but if you have mastered being efficient with your bets, you would be able to utilise the extra place offers and free bets in combination to make some decent profits.
Check out our Greyhounds Matched Betting guide for further details.
Motorsports
Motorsports events like MotoGP or Formula 1 are other good examples of multi-competitor, fast-paced events from which bookmakers would offer the extra place bonus. If you are not a fan of animal sports, then maybe watching professional drivers speed round a course in race cars is more your style. You can matched bet on virtually any sport, but ones with multiple contenders in one event are definitely the better options.
Using extra places in the F1, for example, would mean you could place a wager on a racer finishing in the Top 3, and then use the extra place offer to cover up to 4th or even 5th depending on how many places your bookmaker is offering.
Golf
While Golf is not as fast-paced, or arguably as exciting, as the other sports mentioned, there is plenty of opportunity for extra place offers to be used to make profit from golf events. One event, the PGA World Tour, could easily have extra place bonuses on offer from different bookmakers. The only downside with using these offers for gold is that the events last much longer and therefore your bet would be open for quite some time.
Other Matched Betting Offers
So, we have come to the conclusion that extra place offers are the most profitable within matched betting, but what other offers can be used?
You can use any sort of offer for matched betting, whether it’s a regular sign-up offer, a random free bet, or anything else. If you are just completing regular matched betting, you can use our Matched Betting Calculator to make the maths side of the experience much easier. You can find information about various other tools and betting calculators on our site, all of which are designed to make your matched betting experience more efficient and more profitable.
One of the best sports to use for matched betting is football, and football matched betting is one of the most common forms. It is easy to choose a team to win a game, and then place the opposing bet for them to NOT win. The same applies to players scoring a goal, a total number of goals being scored, and many other markets that can be backed and matched for a potentially profitable matched betting experience. The best offer to use is a stake return offer, something like 100% back if your first bet doesn’t win, which can then be used to cover both the winning event and the losing event and will either provide a profit from your backing stake, or you will get your free bet back and also win the lay bet.
