Chelts extra place offers

I haven’t seen much mention of this on here, so I thought I’d point out how lucrative they can be.
Basically, if you back and lay E/W and your horse comes in the extra place position you win your bet and your lay. Its well worth doing if you are backing multiple horses in the same race, as the “win” portion of the bet still qualifies for whatever the offer is (MBS 2nd, 4/1 winner etc)
Method – divide your horses odds by the factor of payout and lay accordingly
eg, The fictional horse Gubstar is 5/1 and the E/W payout is 1/4
convert your odds to decimal, so 5/1 = 6.0
divide odds by taking 1 off, divide by 4 and add 1 again =
so 6 – 1 = 5
5/4 = 1.25
1.25 + 1 = 2.25

so you would back Gubstar £25@5/1 and check the E/W box (backing each way in effect makes two bets, one for the win and one to place, so a bet of £25 is actually a bet of £50)

lay Gubstar as usual on the exchange win market using £25 as your back bet, then scroll down s market to the lay market and use the figure of 2.25 back odds for the £25 E/W part of the bet.

Gubstar wins = wins 4/1 winner offer/ 3/1 winner offer – back win wins, back place loses, lay win loses, lay place wins
Gubstar 2nd = 2nd place offer – back win loses, back place wins, lay win loses, lay place wins
Gubstar finishes in 5 place = £££££ back win loses, BACK PLACE WINS, lay win loses, LAY PLACE WINS

Gubstar last – Gubdonkey!

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deathstar
25

March 11, 2016 at 10:59 am

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Tony 12 March 11, 2016 at 12:45 pm

Haha, love it – nice write up!

I guess there is also zero chance of the Cheltenham fields suffering enough non-runners to change the bookie place terms. I note Betfair’s place terms never change, regardless of how many runners end up going off, whereas most bookies do. Does each Cheltenham race have alternates, like the National does, or just the feature race each day?

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deathstar 25 March 11, 2016 at 1:36 pm

I think with the odds for places at the exchange, it doesn’t matter what the place odds are because you are getting what you’re given. If that makes sense.
So with a bookie, the price of Gubstar is 5/1 and they are offering a quarter of that for him to place, and the 2.25 figure in the example will change as his odds change.
While at the exchange the market just offers odds to place of 2.25 and that’s it. (so make sure it looks about right, see below)

I’d better point out as well you need to make sure you are comparing like for like. Different bookies might pay different prices (1/4, 1/3 etc) for E/W. You can be fooled into thinking you’ve found a massive arb only to be paid out at 1/5 instead of 1/3. Been there, done that.
I did see a bookie (possibly Coral) saying they were paying 1/4 on all races, which I guess implies some bookies are not.

You also have to check and make sure that the exchange is NOT paying the extra place, usually smarks just does the standard but I know bet fair has an extra tab on the race market for varying numbers of places.

One thing that can scupper it is if so many horses are non-runners they pull the offer. No good aiming for 5th if there’s only 4 runners!

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pbetts 2 March 11, 2016 at 3:57 pm

When is gubstar running?

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deathstar 25 March 11, 2016 at 5:04 pm

Gubstar is not a real horse.

He’s the hare the greyhounds chase round.
And he always wins, so no good for 5th place! 😉

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deathstar 25 March 12, 2016 at 6:52 am

bump for this today (sat 12th)
3.10 Sandown Imperial Cup – 4 places
Sky, Paddy, probably others etc check terms – those 2 deffo paying 1/4
s marts paying top 3, bet fair have lots of markets, one for win, one is E/W which would be a simple like for like lay with no working out involved, one for 3 to place and one for 4 to place so be careful which market you are viewing.

Best this about this offer – AVAILABLE FOR THE GUBBED! its not an enhanced offer or price boost as such, so no worries about getting free bets credited etc.

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matchedem
Blocked
10 March 12, 2016 at 7:09 am

Your last point is excellent mate…i best get practising this as after cheltenham gubbins it might be he only method of matched betting I have left haha

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deathstar 25 March 12, 2016 at 7:15 am

yes, I should have put that in the first post really. or the title! 🙂
Good luck

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matchedem
Blocked
10 March 12, 2016 at 7:30 am

Any tips on the best time to place bets…just been comparing sky bet with smarkets and odds don’t seem that tight

Would be looking at a fiver loss over a 25 each way bet which obviously isn’t good

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Tony 12 March 12, 2016 at 7:43 am

Gubbed 🙂 Restricted 🙁

But still a great point.

Wait til 5 mins before the off for closest odds.

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deathstar 25 March 12, 2016 at 8:34 am

yeah restricted is a problem, although its still worth doing if you can get a tenner on. sometimes the restrictions lift a bit if you go E/W, or used to its been a while since this offer ran.

As for best time, its the same as any other race – closer to the off the better, but leave yourself some time to calculate the odds though.
And sky are always shocking, as any ful no. I would probably only do this with sky if there was another offer attached, MBS 2nd etc

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deathstar 25 March 12, 2016 at 8:45 am

seeing as I’m feeling generous, here’s a cheatsheet for the odds, some odds are missing but you can sort that out for yourselves!
E/W 1/4 ONLY!
(Obviously, check these yourself, I’m not responsible for your bets)
example:
4 (-1=3/4=0.75+1=) 1.75
5 (-1=4/4=1.0+1=) 2.0

2 = 1.25
2.62 = 1.405
2.5 = 1.375

3 = 1.5
3.25 = 1.5625
3.5 = 1.625
3.75 = 1.6875

4 = 1.75
4.33 = 1.8325
4.5 = 1.875

5 = 2.0
5.5 = 2.125

6 = 2.25
6.5 = 2.375

7 = 2.50
7.5 = 2.625

8 = 2.75
8.5 = 2.875

9 = 3.0
9.5 = 3.125

10 = 3.25
10.5 = 3.375

11 = 3.5
11.5 = 3.625

12 = 3.75
12.5 = 3.875

13 = 4.0
13.5 = 4.125

14 = 4.25
14.5 = 4.375

15 = 4.5
15.5 = 4.625

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RyanMB1 0 March 14, 2016 at 1:28 pm

is this a similar method to the grand national £400+ win on the profit log last year?

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MarkCorrigan 9 March 14, 2016 at 2:11 pm

Lol. Did you really just list conversions for each way odds? So generous… 😉

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deathstar 25 March 14, 2016 at 9:03 pm

@mark yes, yes I did. lol

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FoG_BLoG 49 March 18, 2016 at 11:13 am

So on the extra place – have I got this right?

Superb Story is 8/1 in the 2:10. On betfair sportsbook EW terms are 1/4 Odds, 5 places.

So back 25 e/w means I have 25 @ 9.0 to win and 25 @ 3.0 to place in top 5.

On Smarkets to place market is Top 4. He is 9.4 to lay to win, and 3.4 to lay to place.

So lay 23.99 to win and lay 22.52 to place means the following …..

If bookie horse wins i’m up £250.00 in bookie and down £254.42 in exchange for loss of £4.42.
If bookie horse places (doesn’t win) i’m up £25.00 in bookie and down £29.42 in exchange for same loss £4.42
If bookie & exchange place bets both win i’m up £25.00 in bookie and up £45.58 in exchange for the jackpot win of £70.58
If exchange bet wins I’m down £50.00 in bookies and up £45.58 in exchange for the loss of £4.42.

So basically 15/1 effective odds that Superb Story will finish 5th. No idea if that is good odds of a horse finishing in a fairly random position in a field of 26.

I’ll also be eligible for the free bet for winners too if he wins.

What kind of qualifying losses are people accepting for what kind of profit in these things?

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