How to Profit from Extra Places in Horse Racing: A Matched Betting Strategy

So, you’re scrolling through your betting exchange or matched betting forum and keep seeing people talking about “extra places” on horse racing. Maybe you’ve tried ticking a few boxes, placing a fun bet here and there. But now you’re wondering… is there actual money to be made doing this properly? Short answer: absolutely. Long answer? Let’s dive into it.

I’ll share how I’ve used extra place offers during big race meetings like Cheltenham and Aintree to rake in consistent profits, even without being some horse racing guru. This is a strategy rooted in the world of matched betting. Not gambling per se. And if you play it smart, the results speak for themselves.

What Exactly Are Extra Place Offers?

Let’s break it down. Normally, in horse racing, if you place an each-way bet, you’re essentially betting twice:

1. One bet on the horse to win
2. Another bet on the horse to place (e.g., finish in the top 3)

Bookies typically pay out on a set number of places. Say, 3 for a race with 8+ runners. But during big festivals or busy Saturdays, they’ll often boost this to 4 or even 5 places to attract punters. These are known as extra place offers.

Here’s where matched betting steps in.

If you bet each-way on a horse at the bookmaker, and lay both the win and the place part at a betting exchange, you’re covering all bases. Now, if your horse finishes specifically in that extra place spot. Like exactly 4th when they’re paying 4 places but the exchange is only covering 3. You win both bets. That’s the sweet spot. That’s the money shot.

I’ve personally hit that perfect 4th place in the Grand National one year and netted over £300 from a single race. No predictions. No blind luck. Just method, patience, and good ol’ prep.

When and Where to Find the Best Extra Place Races

Timing really is everything.

Your golden windows are events like:

• Cheltenham Festival
• Grand National at Aintree
• Royal Ascot
• Guineas weekend
• York Ebor Festival

These big meetings are when the bookies go all out with generous extra place offers. Sometimes up to 6 or 7 places. Crazy.

But you’ll also find value on regular Saturdays or during mini-festivals like Glorious Goodwood, Irish Champions Weekend, or even mid-week summer racing at times.

Multiple sites track and list daily extra place races. OddsMonkey, Profit Accumulator, and Racing Markets on Betfair are your go-to tools. Odds comparison sites like Oddschecker will also highlight which bookmakers are offering extra places.

Pro tip from experience: Don’t just jump at a race because it has extra places. You still need value.

Using Each-Way Betting to Profit from Extra Places

This is the crux of it. You’re gonna back and lay each leg (win and place) of your each-way bet:

• Back at the bookmaker using their extra place terms (e.g., 1/5 odds on 4 places)
• Lay both the win and the standard place on the exchange (e.g., usually only 3 places)

We’re not gunning for your horse to win (you might even be annoyed if it does). What you really want is that horse to sneak into the extra place. Like a cheeky 4th when you’ve laid the top 3. That’s when you hit a double win: the bookmaker pays out for the place, and the exchange doesn’t touch your lay bet for the place. Boom.

Here’s a quick screenshot from my 2024 Cheltenham spreadsheet on Day 2:

“Placed an each-way bet on The Real Whacker at 20/1 with SkyBet (extra 5th place). Laid the win/place at the exchange. Finished 5th exactly. Netted £168 profit on that one single bet. That’s the 3rd time that week.”

Not bad, right?

Advanced Tools to Help You Find Profitable Opportunities

You’re going to want the right kit for the job. Here’s what works best for me:

• Matched Betting Calculators – These do the heavy lifting. Especially ones with “Extra Place” or “Each-Way Matcher” functions.
• Daily Extra Place Finder Tools – Found on OddsMonkey and Profit Accumulator. They’re absolute lifesavers on a busy race day.
• HorseTracker or HorseRaceBase – For the data heads, these offer racing history, pace info, and performance insights. Great for making smarter picks when you want to get technical.
• Timeform – A reliable source for unbiased race previews, useful when you’re choosing horses less likely to win, but still with a good chance of placing.

Another tip that’s saved me over time: Maintain a simple Google Sheet to track stakes, outcomes, expected value (EV), and actual profit/loss. You’ll thank yourself.

Tips for Conquering Busy Race Days

The Grand National or Cheltenham can often feel overwhelming. 10+ races a day, 20+ runners per race, multiple bookies offering different terms. It’s a lot.

Here’s how I stay sane and profitable:

• Plan your races the night before. Don’t leave it until 1pm when they’re coming out of the paddock.
• Prioritize high EV races. Not every extra place bet is worth it. Use tools to flag those with the best odds match.
• Stick with bookies offering guaranteed extra places. Some change terms last minute. Don’t get burned.
• Lay your bets early. But not too early. Odds move quickly. Check liquidity before diving in.
• Be vigilant. Runners get pulled, odds shift, and place terms change. Stay glued to the screen during peak hours.

On Cheltenham Thursday last year, I hit 3 extra place finishes from 12 bets. But I also had 5 races where the odds nosedived and I couldn’t get a good lay in. Stuff happens. It’s part of the hustle.

Frequently Asked Questions

Do I need to know about horse racing to do extra place matched betting?

Not at all. While it can help to understand basic race structure and terminology, matched betting is about maths over intuition. You’re leveraging odds, not gut feelings.

How much can I realistically make from extra places?

That depends on your bankroll and how many races you play. On major race days, it’s possible to make several hundred pounds in a single afternoon. Across a festival like Cheltenham, £500-£1,500 is common for regular matched bettors.

Isn’t this just gambling?

Technically, no. Matched betting removes the risk by covering all outcomes. With extra places, there is a chance element, but you can minimize variance by focusing on positive expected value (EV). It’s risk-managed, not risk-free.

Which bookies are best for extra place offers?

SkyBet, Paddy Power, Bet365, Coral, and William Hill are usually generous with place terms. Unibet and Betfred also offer them occasionally. Always check terms carefully before placing.

Can I do this year-round?

Yes. With lower frequency. Big festivals are your bread and butter, but there are usually 1-2 decent extra place races daily. Still worth checking the board every morning.

Whether you’re just dipping your toes in or looking to level up your matched betting game, extra places can be a seriously rewarding angle. It isn’t a get-rich-quick scheme . But if you’re methodical, patient, and use the right tools, it’s one of the most consistent ways of pulling cash from the bookies without guessing which horse will blitz the field.

Start small. Track your results. Once you nail that first perfect 4th place, you’ll feel it. Like a secret door just opened into a smarter way of betting.

Ready to get at it?

Check today’s runners, load up your tools, and find that juicy extra place. Race on.