Learn how dutching extra place races works, including backing multiple horses, calculating each-way stakes, worked examples and potential returns.
Quick answer
Dutching extra place races involves backing all or almost all horses in a race, usually with each-way bets at different bookmakers. The aim is to combine the win and place returns so that the total payout could exceed the overall stakes. Extra-place offers can improve the potential return by paying out on additional finishing positions, but profitability depends on the odds, stakes, place terms and race result.
Dutching extra place races is a horse racing betting strategy that involves backing all, or almost all, of the runners in a race to create the potential for a positive overall return.
Rather than relying on one horse to win, the approach spreads stakes across multiple runners, often using each-way bets with different bookmakers. The aim is to combine the returns from winning and placed horses in a way that could cover the total amount staked and potentially leave a profit.
The strategy becomes particularly interesting when bookmakers advertise extra-place offers. These promotions can pay out on more finishing positions than their standard each-way terms, potentially increasing the combined return when a selected horse finishes in one of those additional places.
However, backing most of the field does not automatically make a race profitable. The odds, each-way terms, stake distribution and number of horses that finish in the qualifying places all matter.
In this guide, we'll explain how dutching extra place races works, walk through a hypothetical example, explain how to calculate your stakes and show how OddsMonkey tools can help you assess potential opportunities.
An extra-place race is a horse race in which a bookmaker offers to pay the place part of an each-way bet on more finishing positions than its usual terms would cover. Some of the best extra place offers tend to happen at big events such as the Cheltenham Festival and the Grand National.
For example, a bookmaker might normally pay the first four finishers in a race but advertise an offer covering the first five. A horse finishing fifth could then qualify for a place return under the promotion.
Extra-place offers are commonly associated with selected large-field handicaps, although they can appear across different races and bookmakers.
The important details to check are:
An extra place can increase the potential return, but the promotion alone does not guarantee a profitable outcome. This strategy can become quite complicated, so it’s suited to experienced bettors.
Extra-place dutching and matched betting can both involve bookmaker promotions, but they are not the same strategy. Extra-place dutching focuses on combining win and place returns across multiple horses. Matched betting generally uses qualifying offers and an opposing bet to manage the outcome.
A good starting point for betting on extra place races is matched betting. If you are unfamiliar with either approach, read our guide to Extra Places Matched Betting before exploring the more complex calculations.
Traditional dutching involves backing multiple selections and distributing the stakes according to their odds, with the aim of balancing the gross returns if any selected outcome wins.
Dutching extra place races applies a related idea to horse racing, but the calculation is more complex because the strategy typically involves each-way bets across a large proportion of the field.
An each-way bet consists of two parts:
When you back several horses each-way, you may receive a win return from the winner and place returns from other horses that finish in qualifying positions. An extra-place offer can add another qualifying position, potentially increasing the combined return.
The aim is to find a suitable combination of odds and stakes where the possible returns compare favourably with the total cost of all the bets.
The process generally involves five steps:
Find a suitable race. Look for a race with an extra-place offer and enough runners to make covering a large proportion of the field practical.
Compare bookmakers. Check the available win odds, each-way terms and extra-place promotions for individual horses.
Back all or almost all runners. Place each-way bets across the field, using suitable bookmakers and offers.
Calculate the overall position. Add together the total stakes and assess the possible win and place returns.
Check the potential outcomes. Work out what happens if different horses win, which runners finish in the places and whether the combined return could exceed the total cost.
The crucial point is that you are assessing the race as a whole, rather than looking at each bet in isolation.
What the data says
The British Horseracing Authority reported that the average British race field in 2025 contained 8.90 runners on the Flat and 7.84 runners over Jumps. These figures highlight why covering multiple horses requires careful planning of stakes, odds and potential returns.
For a broader explanation of the underlying technique, see our guide to What Is Dutch Betting?
To understand the principle, consider a hypothetical eight-runner race.
Suppose you place a £1 each-way bet on each of the eight horses. Each bet costs £2 because it consists of a £1 win stake and a £1 place stake.
Your total outlay is therefore £16.
Now assume the five horses that finish in the qualifying places have the following decimal odds. For simplicity, the example assumes that the applicable place terms pay one-fifth of the win odds and that all five place returns shown are valid under the relevant bookmakers' terms.
Finishing position
Win odds
Win return
Place return at 1/5 odds
1st
10.00
£10.00
£2.80
2nd
8.00
£0.00
£2.40
3rd
6.00
£0.00
£2.00
4th
4.50
£0.00
£1.70
5th
3.50
£0.00
£1.50
Total returns
£10.00
£10.40
In this illustration, the first horse wins, while the next four horses finish in the places. The fifth horse also qualifies under the hypothetical extra-place terms.
The combined gross return is:
Calculation
Amount
Winning bet return
£10.00
Combined place returns
£10.40
Total gross return
£20.40
Total stakes across all runners
£16.00
Illustrative net profit
£4.40
This example demonstrates how the win return and multiple place returns can combine to exceed the overall stakes.
It is not a prediction of what will happen in a real race, and the example assumes that the applicable place terms genuinely cover all five horses shown. In practice, extra-place promotions are bookmaker-specific, so you must calculate each bet using its actual terms.
Using the same hypothetical figures, suppose only the first four horses qualified for a place return.
The £1.50 place return on the fifth horse would disappear. The combined gross return would fall from £20.40 to £18.90, reducing the illustrative net profit from £4.40 to £2.90.
Scenario
Gross return
Total stakes
Net result
Five qualifying places
£20.40
£16.00
+£4.40
Four qualifying places
£18.90
£16.00
+£2.90
Difference attributed to the additional place
+£1.50
+£1.50
In this hypothetical example, the additional place contributes £1.50 to the gross return because the fifth horse qualifies for a place payout. Without that extra qualifying position, the illustrative net profit falls from £4.40 to £2.90. This difference depends on the stated odds and place terms; it does not mean every extra-place promotion will improve the overall result by the same amount.
Important: This is a simplified illustration of the settlement mechanics, not a complete staking model for a live extra-place strategy. In a real race, some bets may have standard place terms while others qualify for extra places, and each bet must be calculated separately.
Equal stakes are useful for demonstrating the principle, but they are not necessarily the best way to distribute stakes across a race.
A horse priced at 3.00 has a very different potential return from a horse priced at 20.00. The amount staked on each runner therefore affects the combined result.
When assessing an extra-place race, consider:
What the data says
At Britain's Premier race meetings in 2025, average fields increased to 11.02 runners on the Flat and 9.41 over Jumps, according to the British Horseracing Authority. Larger fields can make the total cost of covering multiple runners an important consideration when evaluating an extra-place opportunity.
A traditional dutching calculator can help with stake allocation across selections, but a full extra-place calculation must also account for each-way settlement and the specific promotional terms.
OddsMonkey provides tools that can help you find opportunities and assess the numbers involved.
Tool
How it helps
Helps identify and assess bookmaker extra place offers
Calculates stake allocations and potential returns across multiple selections
Offers additional flexibility for calculating stakes across several selections
Use the tool that matches the calculation you need. A standard dutching calculator does not automatically account for every aspect of an extra-place strategy, including multiple each-way bets, differing place terms and additional qualifying positions.
Finding an extra-place promotion is only the starting point. You need to assess the whole race before deciding whether the available terms are suitable.
Check which bookmakers are offering additional places and identify the horses and bets that qualify. Larger fields may provide more runners to cover, but they can also require a greater total outlay.
Compare the odds available across bookmakers for the runners you intend to back. A promotion offering more places may not be attractive if the associated odds are poor.
Check the odds and terms for each horse individually rather than assuming that one bookmaker's promotion applies to the entire field.
Add together the win and place stakes for every each-way bet. Remember that a £1 each-way bet costs £2, and the cost increases with the number of horses you back.
The total outlay can become substantial in a large field, so make sure you understand the amount at risk before proceeding.
Work through the different outcomes, including the horse that wins, the horses that finish in qualifying places and the possibility that some selections do not place.
Account for the exact place fraction, odds and promotional terms attached to every bet. An additional place can improve the return, but it does not automatically make the overall position profitable.
Confirm the number of qualifying places, place fraction, eligible runners, minimum odds and non-runner provisions. Promotions can have different conditions, so always check the applicable terms before placing bets.
Expert insight from James, OddsMonkey dutch betting expert
“An extra-place offer is only as useful as the terms attached to the individual bet. Two horses in the same race can qualify for different numbers of places, so the real challenge is understanding how those returns combine across the entire field.”
Consider what happens if an unbacked horse wins, if several of your selections finish outside the places or if the available odds change before all your bets are placed.
A strategy that looks attractive on paper may produce a different result once the actual prices and settlement rules are applied.
Although backing multiple horses can create several possible sources of return, it does not remove the risk of losing money.
Expert insight from James, OddsMonkey dutch betting expert
“Covering more runners can create more potential place returns, but it also increases the amount of money tied up in the race. The key question isn’t how many horses you back; it’s whether the combined payouts justify the full cost.”
The key is to assess the complete position before betting and never treat an extra-place promotion as a guarantee of profit.
Both approaches involve backing multiple outcomes, but their calculations and objectives differ.
Feature
Traditional dutching
Dutching extra place races
Main approach
Split stakes across selected outcomes
Back all or almost all runners, often each-way
Main objective
Balance returns if a selected outcome wins
Combine win and place returns across the field
Role of place terms
Not essential to standard dutching
Central to the strategy
Role of extra places
Not required
Can increase the number of qualifying place returns
Main calculation
Stakes and odds for each selection
Total each-way stakes, win returns, place returns and bookmaker terms
Main risk
None of the selected outcomes wins
Combined returns fall below total stakes or an unbacked horse wins
If you want to understand how dutching differs from other betting approaches, read our guide to Dutching vs Matched Betting.
For more examples of how the underlying technique can be applied, see Dutching Bet Strategies.
Dutching extra place races involves looking at the race as a whole rather than concentrating on one horse. By backing all or almost all runners, comparing bookmaker odds and calculating the combined win and place returns, you can assess whether the potential payouts justify the total stakes.
Extra-place promotions can improve the potential return by extending the number of qualifying finishing positions. However, the advantage depends on the terms available for each bet and the outcome of the race.
Dutching extra places is one of the more difficult approaches. Therefore, we would recommend trying matched betting and standard dutching first. You can then take a look at the different dutching strategies.
Always check the bookmaker's terms, keep within a budget you can afford to lose and avoid chasing losses.
Dutching extra place races involves backing all or almost all horses in a race, typically using each-way bets at different bookmakers. The aim is to combine the win and place returns so that they could exceed the total stakes, with extra-place offers potentially increasing the number of qualifying place returns.
No. The result depends on the odds, stake distribution, place terms, number of qualifying finishers and race outcome. An extra-place offer can improve the potential return, but it cannot guarantee that the combined payouts will exceed the total stakes.
An extra-place offer can allow an additional horse to qualify for a place return. If that horse finishes in the extra position, its place payout can increase the combined return from the race. Whether that makes the overall strategy profitable depends on the full cost of the bets and the returns from all selections.
Not necessarily. Some approaches cover the entire field, while others cover most of the runners. Leaving horses unbacked can reduce the total stake required, but an unbacked horse winning may significantly affect the outcome.
No. This strategy focuses on backing multiple horses and combining win and place returns across the field. Matched betting usually involves qualifying bookmaker promotions and an opposing bet to manage the outcome. Although the approaches can overlap in some circumstances, they are not the same strategy.
The Extra Place Matcher can help identify relevant bookmaker promotions, while the Dutching Calculator and Dutching Advanced Calculator can help with stake calculations across multiple selections. Make sure you account separately for each-way terms and extra-place conditions where the calculator does not model them directly.
Start with our guide to What Is Dutch Betting? You can then explore Dutching Bet Strategies, How to Get Started with Dutching, How Much Can I Make with Dutching? and Horse Racing Dutching Strategy.
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