Betting on golf isn’t for the faint of heart.
The large fields and long odds means that outright gambling on tournament winners is a highly volatile affair.
Which is why I thought I’d walk you through this super-low risk golf betting system that I’ve been using to exploit the bookmakers’ extra-place offers for the last few years.
This system genuinely works.
But it’s not very exciting!
(Unless you’re betting big enough to cause the ‘double-payout‘ to run into the £100s or £1,000s).
Which is why I’ve also included some resources to help you find the best golf betting tips online at the end of the post.
So, if golf betting tipsters are more your thing.
Be sure to take a look.
The 5-Step Golf Extra-Place Exploitation System
This strategy is the same as the horse racing extra-place strategy.
You’re basically looking to secure a double-payout when your selection places in a bookmakers’ extra-place.
This will happen because you’ll be paid by both the bookmaker and the betting exchange.
To make this strategy work, you’ll need to be already proficient in the basic matched betting process.
And you should be comfortable placing lay bets on the Betfair Exchange:
Because you’ll be building on the basic ‘back and lay’ technique to remove the risk when you place an each-way bet with the bookmaker.
If you’ve never heard of matched betting then the good news is that there’s a lot of easy money waiting for you!
Check out my Ultimate Beginners Guide to Matched Betting to get started.
(Otherwise, the rest of this post won’t make much sense!)
Step 1: Find a Qualifying Extra-Place Golf Tournament
This core of this system is based upon exploiting the extra-place payouts that the bookmakers periodically offer on selected golf tournaments.
For example, here I’ve found an offer from Boylesports who are paying out on each-way bets up to 7 places in the Mayakoba Golf Classic:
I found this offer manually.
But usually, I’ll use the Golf Extra-Places Software to find these types of offers for me.
Not only is this quicker.
The software will also find the best selections to back and lay to reduce the qualifying loss.
Image: Video still of Mike Cruickshank demonstrating how to use the Each Way Sniper extra-place golf software.
Step 2: Check the Exchange Places to Be Paid
The next step is to check the number of places to be paid in the corresponding lay market on the Betfair Exchange.
If I’m using the software, I can just click the ‘lay odds’ on the Each Way Sniper odds feed to be taken to the correct market immediately.
Here, I can see that Betfair are paying out on 5 places in the Mayakoba Golf Classic:
By placing a lay bet on a player in the Top 5 Finish market.
Betfair will pay out if the player does NOT place inside the top five.
And given that Boylesports will pay out if the player places in the top seven.
You would be paid out by BOTH the Betfair Exchange and Boylesports if the player finishes either 6th or 7th.
Step 3: Calculate the Profit Potential
I’m going to bet on the favourite in the Mayakoba Golf Classic – Rickie Fowler:
I’ve chosen Rickie because his back odds are the closest match to the lay odds that I can find.
This is important so that the qualifying loss is kept to a minimum (although in this example it’s typically much more than I would allow).
Next, I need to work out how much money I will make if Rickie places 6th or 7th.
I do this by entering the correct information into the Each Way Sniper Extra-Place Calculator:
I’m betting £10 each way (£20 in total).
Rickie is 9.0 to back with Boylesports and 9.8 to lay in the win market on Betfair.
The effective place odds are 2.6 with Boyle and the corresponding place lay odds are 3.95 with Betfair.
This means that I must place a £9.23 lay bet in the Betfair ‘Winner’ lay market to cover the £10 win part of my each-way bet to remove the risk.
And I must also place a £6.66 lay bet in the Betfair ‘Top 5 Finish’ lay market to cover the place part of my each-way bet.
I will need £100.87 in my Betfair account in total to cover the associated liability.
If Rickie places 6th or 7th – I’ll make £21.14.
Any other result will yield a qualifying loss of £4.87 (ish).
(Ignore the incorrect wording on the calculator).
This is actually much more of a loss than I’d be willing to take for a £21 profit.
Ideally, I’d be looking to break even in the worst case scenario.
Step 4: Place the Back Bet
For the sake of this example.
I’ve gone ahead and placed the £10 each-way bet on Rickie with Boylesports:
Step 5: Place the Lay Bets
Now I need to cover the win part of my each-way bet.
I do this by placing a £9.23 lay bet in the ‘Winner’ market on Betfair:
And I cover the place part of my each-way bet by placing a £6.66 lay bet in the Betfair ‘Top 5 Finish’ market on Betfair:
(The place lay odds dropped a little as I placed the bet).
All I need to do now is wait for the event to settle on Sunday.
And hope that Rickie places 6th or 7th for the double payout.
Conclusion: How to Increase Your Extra-Place Profits
Clearly, you’re not going to hit the extra-place every time.
This is why you need to keep your qualifying losses to a minimum.
I’d recommend using the Extra-Place Golf Software to find bets where you either break even or make a profit if you don’t land the extra place:
If you can get close odds matches you can increase your stakes sizes to amplify the profits.
(Just keep an eye on your liability figure).
Also, bet volume is the key to getting results using this extra-place strategy.
You just need to keep plugging away until you hit a ‘winner’.
However, given that there aren’t a massive number of extra-place golf tournaments to bet on.
I’d recommend using this extra-place strategy on horse racing too.
Because there are usually plenty of opportunities available in the UK racing markets each week.
This will help you get the volume in.
Plus, you can also use the Each Way Sniper Arbitrage Software, to lock in guaranteed profits from the bookmakers’ place market pricing mistakes:
This is generally more rewarding than the extra-place technique because you’ll get something immediately in return for your efforts.
Check out my Each Way Sniper Review to learn more and get started.
Get the Best Golf Betting Tips
Prefer to follow a proven golf betting tipster?
Here are two that you might like.
#1: The Golf Betting Expert
When I tested The Golf Betting Expert, I netted a massive 215.38 points in profit:
Craig’s service is widely considered to be one of the best performing golf betting tipsters currently on the market.
Check out my full Golf Betting Expert Review to learn more.
#2: Top 20 Golf Tips
I haven’t personally trialled Top 20 Golf Tips.
But since launching in 2016, this Betting Gods managed service has been averaging a win rate of more than 12%.
This, combined with a 26% ROI and a bank growth of 478%, means that subscribers to Top 20 Golf Tips are currently making more than £230 each month on average betting at £10 per point:
Check out my full Betting Gods Review to learn more about why Darren Moore’s tipsters are so highly regarded in the industry.