In article one, I introduced you to the situs freebet Exchange concept
and explained the basics of LAY Betting (Lay to Lose). Now in
this article, I’m going to introduce you to another unique and
powerful feature of the betting exchanges, the Place Markets.
What Are Betting Exchange Place Markets?
Place markets are as the name suggests, markets which allow you
to bet on a selection to be ‘placed’. Eg. a horse to finish 1st,
2nd or 3rd in a 8 runner or larger field.
Now, the first and most important thing to highlight here is
that these place markets are completely different to the well
known Each Way (EW) betting markets offered by traditional
bookmakers. The Each Way bet is in fact 2 bets of equal stakes.
The 1st stake is on the selection to win and the 2nd is on it
to be placed. So a £10 EW bet will cost you £20 in total.
A £10 place bet on a Betting Exchange is a single bet and
therefore will only cost you £10. If your selection finishes in
a place, you collect your winnings and smile.
Think about it for a minute. How many times have you been
certain that a horse will be placed, but you have not been
confident that it will win…
Traditional Each Way Betting
Take the following example. A horse named ‘Im gonna be placed’
that is available to back with traditional bookmakers at 4/1
(5.0). Your very confident that it will finish in the top 3 in
a 10 runner field.
With a traditional bookmaker, your options are:
1) Take a chance on it winning and place a win single on it.
E.g. £10 at 4/1
2) Place an EW bet on it. E.g. £10 EW at 4/1 (5.0). Total
stakes £20. The bookies will pay you 1/5 odds on the place
element of this E/W bet based on their standard EW rules.
On our horse which is available to back at 5.0 this equates
Now, the only time the above race will be profitable for you is
if the horse actually wins. In both cases you would make a very
nice profit if it did. For option 1 you would win £40 profit
and for option 2, £48 profit.
BUT, if as you suspected the horse only finishes placed in 2nd
or 3rd, you actually lose money in both cases. With option 1
you obviously lose all your stake money so are down £10. With
option 2, you win £8 on the Place side of the EW bet but still
lose £2 overall as the win part of the bet was a losing one.