Betting systems: profitable each way and place strategies
August 8, 2012 by Jonathan
Filed under Recent Articles
The “Place Markets” on betting exchanges such as Betfair and Betdaq are often overlooked by many punters. Whether backing or laying it really is worth considering these markets as an alternative to the traditional each way bets being offered by the highstreet bookmakers.
Betting Exchange Place Markets
In the place markets you can back or lay any horse to be placed ( 1st, 2nd, 3rd and 4th ) although it’s worth noting that altered rules apply to different types of races.
For example in an eight runner race you can get paid out on the first three places, and in larger field races with 16 or more runners you can get paid out on the first four home.
Before you place a bet always make sure to check the rules to clarify the number of places!
Also be aware that exchange place betting doesn`t operate the same as each way betting with the bookmakers. When you place an each way bet with the bookmaker it is one bet split into two parts, i.e. 50% of your stake money is placed on a horse to win and the remaining 50% is on the place side of the bet. For example…
A £2.50 each way bet with the bookmaker is – £2.50 to win and £2.50 to place
A £5 place only bet on a betting exchange is – £5 to place only
In our opinion this is where the Betting exchanges provide a unique advantage over traditional bookies. If you identify horses which regulary place but rarely win then it makes sense to back them to place only.
You can learn more about how the Betting exchanges really work with our other tutorials and videos…
# What makes Betfair different from other bookmakers? (video)
# What factors change the odds on the Betting Exchanges?
# Understanding The Betfair Market Graph on a race
Each Way betting with the bookmaker
High street bookmakers usually offer the following terms on each way bets:
2 to 4 runners win only (no place odds)
5 to 7 runners 2 places – ¼ odds
8 or more runners 1/5 odds (3-4 places depending on the bookmaker)
The problem with traditional each way betting is 50% of your stake money is tied up in the winning side of the bet, which means unless your horse actually goes on to win you`ll lose.
This is why the betting exchange place markets provide you with an edge.
Although, the place markets generally pay out marginally less than the place part of a traditional bookies each way bet, because 50% of your stake is tied up in the win only side in the bet, there is still more chance of making a profit when using the exchanges to bet on horses that place regularly, but rarely win.
You only lose if you’re selection doesn’t place.
Using a betting system or selection method which identifies horses that place regular can provide you with a one in four chance of winning, depending on Place terms for the race.
Betting exchange place market rules
1# Place markets turn IN PLAY at the off and cancel unmatched bets (with the exception of bets for which the “keep” option has been selected). Betting will be suspended at the end of the race. The market will initially be settled on a First Past the Post basis.
However Betfair will re-settle all bets should the official result at the time of the “weigh-in” announcement differ from any initial settlement. BETS ARE PLACED ON A NAMED HORSE. Dead Heat rules apply.
2# Exchange Place markets still offer full place terms even when non-runners are declared. Basically if an eight runner field is reduced to 7 runners you still get paid out on the first three places.
Conversely in the same situation the bookmakers reduce the odds and the number of runners to be paid out on (2)
3# To place an each way bet on the betting exchanges you simply need to decide on your stake and then split that between one bet in the actual win market and one bet in the place market.
The best part about this is you can set your betting stakes according to how much confidence you have in your selection, if you feel it’s more likely to place than win you can put more money on the place side of the bet.
This is the big advantage you have when using the exchanges, because they are so much more flexible than the bookies. Ultimately this kind of flexibility really helps you to maximise profits and limit loses when betting.
Backing or Laying in the place markets
As well as backing horses you can also lay them in the place markets. Obviously you would need to identify enough negatives about your selection before considering laying it for a place, because unlike the win markets you lose if the horse places in the first two, three or four depending on the place terms of the race.
The main benefit of laying horses in the place market is the odds are always much lower than the win market, meaning you are risking a lot less.
Place market betting strategies worth considering
Dutch strategy: backing more than one runner to place (place a dutch bet across 3 runners)
Value strategy: Ask for bigger odds on hold up horses (use the keep inplay button to ensure your bet isn`t cancelled at the off)
Lay strategy: Identify horses that rarely place and lay them when facing strong rivals.
Each Way Value Strategy:
1. Identify a race with  8 -10 runners (these pay out on 3 places)
2. Assess the betting market on Betfair ( Look for a big price difference between the top three horses in the market and the rest of the field)
Betting market example:
13/8 Daves Dream, 9/4 Bold Runner, 4/1 Diktata, 7/1 Rays Honour, 20/1 Billy Bones, 20/1 Mister Green, 20/1 Ruby Tuesday 100/1 Decider.
3. Back the horse with the 3rd highest odds to place only on Betfair (4/1 Diktata in our example above)
Your betting bank profits will slowly increase because plenty of horses will place returning small but fairly consistent profits. Or if you prefer back selections in the win and place markets.
Bear in mind when taking the second option, you will encounter long losing runs, although when a horse wins you`ll get a much bigger payout.
Summary
 The Betting exchange place markets offer many possibilities to those punters prepared to take an alternative view. Whether backing or laying it really is worth considering these markets as an alternative to the traditional each way bets being offered by bookmakers.
Most of you will already have accounts with bookmakers, although not everyone has a betting exchange account. If you want to profit from betting in the place markets, then you need to open an account with Betfair today! You`ll get a free £20 bet and £100`s in further bonus payments, based on your future betting activity.
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Comments
3 Responses to “Betting systems: profitable each way and place strategies”Speak Your Mind
Tell us what you're thinking...and oh, if you want a pic to show with your comment, go get a gravatar!
Oh my beloved Jonathan,
with great love i invite you to be with my message,
it is indeed very kind of you to share your wisdom with each passing moments
what a nice way one can go about in punting & win too, with your
all new approach, thank you my god sent friend,
thank you
with immense gratitude
easwaran
India
jon/ doyou think it possoble to lay a strong fav and then place a exacta bet with other horses to get a return on bet
Hi Declan
as long as you do your form reading homework to cover a few angles, then it should be possible. Obviously you need to identify negatives for the favourite and positives for other horses. Of course you would also need to factor in what odds were on offer and calculate whether a profit could actually be made. Probably this would be dependent on favourite odds being short enough.