This extra place calculator works out how to lay an each-way bet on a betting exchange when a bookmaker pays more places than the exchange. It gives you both lay stakes and shows your profit or loss for every finishing position.
Most outcomes lose a few pence. But if the horse finishes in the extra place, the bookmaker pays your place bet and both exchange lays win too. That one result pays for many small losses.
Extra place calculator
The short version
- Back each-way with a bookmaker paying, say, 5 places.
- Lay the win on the exchange, and lay the place in its 4-place market.
- Lay stake = back stake × back odds ÷ (lay odds − commission), for each part.
- Small loss on most results, a big win if the horse finishes 5th.
How to use the calculator
- Enter your stake per part, the bookmaker’s odds, the each-way terms and how many places the bookmaker pays.
- Enter the exchange lay prices for the win and place markets, and how many places the exchange place market pays.
- Enter your exchange commission. Use 0% if you have a commission-free offer.
- Optionally, add the chance of finishing in the extra place to see the expected profit.
Estimating the extra-place chance
If the exchange runs a market for the bookmaker’s number of places (such as Betfair’s “5 TBP”), the extra-place chance is roughly 1 ÷ that price minus 1 ÷ the standard place price. For example, 1 ÷ 3.0 − 1 ÷ 3.9 = 33.3% − 25.6% = 7.7%.
Worked example
Worked example
You back £10 each-way at 12/1, 1/4 odds, 5 places. The exchange lay prices are 13.5 to win and 3.9 to place in the top 4, with 2% commission.
The calculator lays £9.64 to win and £10.31 to place, a total liability of £150.45. Whether the horse wins, places in the top 4 or is unplaced, you lose about 45p. If it finishes 5th, you make £39.55.
Before you start
- You need enough money in your exchange account to cover the liability, which can be more than ten times your stake.
- Lay quickly after backing, before prices move, and check there is enough money waiting at your lay price.
- Rule 4 deductions and non-runners can unbalance the bets.
- Bookmakers may restrict accounts that only take extra-place prices.
Related calculators and guides
18+ only. Betting should be fun, and every bet can lose. Set a budget you can afford to lose and stick to it. For free, confidential support, visit BeGambleAware.org or call the National Gambling Helpline on 0808 8020 133.