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 fieldNow, 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 totalA £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 smileThink 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 winTraditional Each Way BettingTake the following example A horse named 'Im gonna be placed'
that is available to back with traditional bookmakers at 4/1
(50) Your very confident that it will finish in the top 3 in
a 10 runner fieldWith a traditional bookmaker, your options are:1) Take a chance on it winning and place a win single on it
Eg £10 at 4/12) Place an EW bet on it Eg £10 EW at 4/1 (50) 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 50 this equates
to 18Now, 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 profitBUT, 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 oneEnter The Betting Exchange Place MarketsUsing the above example and depending upon the prices of the
other horses in the race, you would probably see the Betting
Exchanges offering odds of around 160 - 200 (evens) on this
horse being placed You can therefore put your £10 PLACE bet
on at say 18 and collect £8 profit (minus commission) as long
as the horse finishes 1st, 2nd or 3rd Only if the horse
finishes outside of the top 3 do you lose your £10 stakeI'm sure this has got you thinking and you can probably see the
power in this straight away!When combined with a good staking plan and a sensible selection
process, it can be common to have very long winning streaks when
backing horses to be placed on the betting exchanges These
longer winning streaks more than make up for the relatively
short prices that are offered on selections to be placedPlace Market Important Notes A few important things to note about place markets:1) Unlike the betting exchange win markets, Place markets DO NOT
go "In-Running" when the race starts but this is true of the
traditional E/W bets offered by bookies as well2) If a race is planned as a 8 runner or more event but a number
of horses become non-runners leaving less than 8 runners, the
betting exchanges still offer odds on 3 places This is
different to bookmakers who in such cases adjust their odds on
the place payment from 1/5 to 1/4 of the win odds BUT they only
pay out on 2 places If a 5,6 or 7 runner field is shortened to
less than 5 runners, the betting exchanges will still offer
place markets and payout if the horse finishes 1st or 2nd3) You can make up the equivalent of an E/W bet on the betting
exchanges by placing a bet on the win market and a separate bet
on the place market Depending upon the type of race and the
form of the market, you will often find that this offers more
value in terms of odds than an E/W bet with a bookmakerBacking Or Laying On The Place MarketsAs explained in article 1, the ability to Lay a selection is
perhaps the most important feature of the betting exchanges
You now have the ability to Lay selections to be placed In
other words, if you have a valid reason to believe that a
selection will not even finish in a place, Lay it to Lose on a
betting exchange The real beauty of laying on the place
markets, is that the odds are always much lower than the
outright win odds so your lay liabilities are much lowerTrading On The Place MarketsAs the place market prices are much lower than the outright win
market prices, they also offer a great place to learn the skill
of TRADING without much risk to your balance! Betting Exchange
trading is simply the process of betting on price movements for
guaranteed profits Eg Back a horse at 40 and then Lay it
later at 30 for a no risk bet or guaranteed profit regardless
of the outcome!Betting exchange trading will be covered in detail in a future
betting articleSummaryPlace markets should be used as part of your betting armory
They offer you the chance to make money frequently with long
winning streaks being very common This helps to build your
confidence as well as your betting bank!Bookie Each Way bets are not always poor bets but in the vast
majority of races, the odds are stacked firmly in the favour of
the bookmakers They simply love punters taking EW bets on these
races as they know its their bread and butter A small
proportion of races where the market is formed in a certain way
do offer the punter very good E/W value but that's for a
different dayWell that's it for part 2 of my betting exchange articles
In part 3, I will be explaining the Betting Exchange In-Running
markets
Author: Martin BaileyVisit my Horse Racing site now for more free betting and gambling related information by Martin Bailey
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