Extra place offers explained

Bookmakers offering extra places does not necessarily make for a better bet and this guide is going to help you to discern the difference. While extra places do increase the chances of a successful bet, the loss in value can be detrimental, so it is important to know all the facts.

Extra places are for each-way bettors, not layers, and can create a significant change to the each-way terms of a race market. It is important to note that extra places are not a bonus available to specific customers and are instead open to anyone betting on that race.

The standard each-way terms

The table below shows the industry standard each-way terms and it highlights what bonuses punters can gain or lose from extra places. Bear in mind that multiple bookmakers will offer better value than industry standard in order to earn customers.

What are extra places actually worth?

Bookmakers usually shorten the odds for the field when extra places are being offered so with that in mind, the bigger the price, the better value extra places provide. Outsiders provide better value, as horses who are more likely to win are less likely to require extra places. In that case, it is usually better to take less places and a slightly bigger price.

For example, a £10 each-way bet on a 20/1 shot in a 20-runner handicap with an extra place is only really better value than a 22/1 each-way bet with the standard four places, if there is a good chance that the horse in question needs the extra place in order to make the frame.

Another bad idea is backing horses each-way at relatively short prices with reduced odds and extra places. This type of bet is placed on the understanding that the horse is expected to finish in the first two, so the worse value and extra places are unlikely to help.

Below is a table showing the value difference for a £10 each-way bet in a 20-runner handicap.

Where the value actually sits

Extra places become increasingly more useful when the size of the field gets bigger and when betting on horses at larger prices. Very competitive races like Cheltenham Festival handicaps can often provide value with extra places, as there is often less between the runners and the gaps between fourth and seventh are usually relatively small.

• Field size: races like the Grand National (which usually has around 35 runners) are often good opportunities for betting with extra places. All bookmakers offer them and when it is much harder to predict the outcome, extra places are much more helpful.
• The horse’s price: A 33/1 shot is much more likely to benefit from extra places than a 7/1 shot so it is often a good idea to take a small hit on the price for the extra security.
• Is the horse an each-way play: Do not bother backing a 2/1 favourite each-way with extra places, as the chances of them finishing in the extra place positions are very low and the value is shockingly poor.

What’s the catch?

Bookmakers reserve the right to withdraw or alter extra place terms when there are non-runners, as the probabilities are sometimes drastically different as a result. Short-priced non-runners are more likely to change the terms, as are a significant number of non-runners.

Best Odds Guaranteed offers are usually not applied when extra places are taken, so if you prefer to have BOG over an extra place or two, then opting out could be the best option.

Tote betting rules are different to those of standard bookmakers and each-way bets are settled at industry standard terms, rather than the operator’s promotion.

Extra places are only on offer for each-way betting and win only bets do not apply. That may seem obvious but it is a very important fact to note.

When to ignore them

It is a complete waste of time to take an extra place on a short-priced favourite and certain types of races should just be left alone. For example, a seven-runner novice chase does not provide any meaningful value, even in Grade 1s at major festivals.

Do not have a bet on a race and take extra places just for the sake of it. If you do not have a strong opinion on the race, extra places are not going to matter to you. 

Big fields and big prices are the way to go and extra places should just provide security to a bet you were already planning to place.

FAQs about extra place offers