Lay The Extra Place




Bet the place, lay the Extra place.
Bet and lay 2 separate place markets almost at level stakes.
This is a bet and lay strategy, but the outcome of the trade has the effect of laying a place market . . . . but with profit from placed horses and payout only on the single “Extra place”.
Example :-
Bet a 3 place market, lay a 4 place market :- . . . . placed 1st, 2nd or 3rd = profit, 4th place = lay payout, Unplaced = zero profit or loss.

The spreadsheet described below shows what happens if we bet and lay 2 separate Place markets in the same horse race.
Bet a 2 place market and lay a 3 place market – – – – and lose only if one of our horses finishes 3rd.
Bet a 3 place market and lay a 4 place market – – – – and lose only if one of our horses finishes 4th.
Bet a 4 place market and lay a 5 place market – – – – and lose only if one of our horses finishes 5th.

Hit the winner or placed horses in the smaller payout of the “Normal” place market to show a profit.
Unplaced runners will break even with zero profit or loss.
Only the “Extra” placed horse will cause a loss.

Example. Bet a 3 place market, lay a 4 place market.
The staking in the spreadsheet is set to break even with zero profit or loss if a traded runner is un-placed.
Bet and lay a runner that is placed in the “Normal” 3 place market and we can have profit from that runner.
Bet and lay the “Extra” 4th placed horse, and there is a loss.
The overall effect is that we can lay one or more runners and only have payout if we hit the “Extra” 4th placed horse with one of our bet and lay trades of the 2 markets.
Bet and lay more than one runner using these 2 markets and only one horse will cause a payout – – the horse that finishes 4th.
If you have not bet and layed that 4th placed runner, there is profit from all horses traded that get placed 1st, 2nd or 3rd, in this example.

The spreadsheet has a facility for staking for a profit from on all runners except one – – – the 4th placed horse in the example above.
To do that, a percentage increase of the lay stake can be set in the spreadsheet, demonstrated in the videos below.

Copyright notice. In the videos below, Betfair content shown is for demonstration purposes only, and is presented with the kind permission of The Sporting Exchange Limited. © The Sporting Exchange Limited.

For a BIGGER VIEW of the videos, click the small icon bottom right with 4 square corners.

  • Video 1 describes the spreadsheet.
  • Video 2 shows a live trade.
    In the Win market early in the video, odds for my runner “Gwafa” were bet 21.0, lay 22.0.
    Gwafa was badly hampered half way through this hurdle race, and his jockey was thrown out of the saddle, so his finishing position was “Unplaced”.
    Profit from the trade was £1 after commission deductions which is 20% of the £5 initial bet stake.
    Liabilities for the total trade in Betfair were minus

-£18.17 if the horse finished 4th.
If we divide £18.17 by £1.05, the lay odds for £1 profit after commission were lay odds 17.30 for a 4th place finish.
Before you read too much into the difference between the lay odds 22.0 & lay odds 17.30, remember that Win market odds are geared to the winner, not a 4th place finisher.
Nevertheless, for a lay of a single runner for a single finishing position, the difference in the lay odds is an interesting outcome.
There was also the possibility of a bigger £4.44 profit, over 80% after commission if the horse had finished in the first 3.