What the fields mean
- EW Stake (x2)
- Your stake per part. A £5 each-way bet is £10 in total.
- Back Win Odds
- The bookmaker's win price, in decimal.
- EW Term
- The place fraction, usually 1/4 or 1/5.
- Lay Win Odds / Lay Place Odds
- The exchange prices for the win market and the place market.
- Lay commissions
- Your exchange's commission on each market.
- Qualifying Loss
- What you lose if the horse wins, places in the normal places, or finishes outside them.
How an extra place works
- The bookmaker pays more places than usual, for example 5 instead of 3.
- You back each-way at the bookmaker and lay the win and the place at the exchange, which only covers the normal places.
- If your horse finishes in an extra place (4th or 5th here), the bookmaker pays the place and your place lay wins. Any other result costs you only the small qualifying loss.
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Questions
What is a good extra place race?
More runners than the place terms need, a close lay price on both markets, and enough money at the exchange to fill your lay.
How often does the extra place land?
Not often on any one race. It depends on the field and the prices, which is why the calculator shows the cost when it doesn't.
Can I lay the place on any exchange?
You need a place market for the race. Not every exchange has one on every race.
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