bet365 Each Way Extra gives horse racing bettors the option to change the number of places covered by an each-way bet on selected races.

Instead of automatically accepting the standard each-way terms, you can sometimes:

add more places and accept shorter odds
remove places and receive bigger odds.

This creates a trade-off between the number of finishing positions covered by the place part of your bet and the price available on the horse.

For example, a horse might be available at standard each-way terms of:

10/1, 1/5 odds, first 4 places

Using bet365 Each Way Extra, you might instead be offered:

8/1, first 6 places

or:

12/1, first 3 places

Those figures are illustrative rather than fixed bet365 terms, but they show how the feature works.

More places normally mean a reduced price.

Fewer places can mean an increased price.

The important question is not simply whether you can secure more places. It is whether the adjusted odds and place terms represent better value for the particular horse and race.

What Is bet365 Each Way Extra?

bet365 Each Way Extra is a horse racing betting feature that allows customers to adjust the number of places attached to selected each-way bets.

The standard each-way market might pay three or four places.

Where Each Way Extra is available, bet365 may let you select alternative place terms.

You could potentially choose to cover additional finishing positions.

Alternatively, you may be able to reduce the number of places in return for a bigger price.

This differs from a normal bookmaker extra-place promotion where the bookmaker simply announces that a particular race is paying an additional place.

With Each Way Extra, the customer can choose from available terms and see the corresponding odds before placing the bet.

Our main bet365 Horse Racing page covers the bookmaker’s broader racing service, offers and features.

How Does Each Way Betting Work?

Understanding Each Way Extra first requires understanding a normal each-way bet.

An each-way wager contains two separate bets:

a win bet
a place bet.

A £5 each-way bet therefore costs:

£10 total

because you are staking:

£5 to win

and:

£5 to place

If the horse wins, both portions of the bet succeed.

If it finishes within the specified place positions without winning, only the place portion succeeds.

The place return depends on:

the horse’s odds
the each-way fraction
the number of places offered.

The number of runners and whether the race is a handicap can affect standard place terms.

What Does Each Way Extra Change?

Each Way Extra changes the available place terms and corresponding price.

Imagine a 16-runner handicap where the standard market is:

12/1, 1/4 odds, first 4 places

bet365 could potentially offer several alternative options.

For illustration:

Option	Win Odds	Places
Fewer Places	14/1	3
Standard Terms	12/1	4
Extra Place Option	10/1	5
More Places	8/1	6

These are example prices rather than live bet365 prices.

The principle is what matters.

If you want greater place coverage, you sacrifice some of the horse’s price.

If you are prepared to accept fewer place positions, you may receive a bigger price.

Why Does the Price Change?

The odds change because changing the number of places changes the probability that the bookmaker will need to pay the place portion of the bet.

Suppose there are 20 runners.

Paying:

4 places

provides fewer potential successful place outcomes than paying:

7 places.

A seven-place each-way bet is therefore more favourable to the bettor on the place side.

The bookmaker compensates by reducing the price.

The opposite applies if you voluntarily reduce the places.

If your bet only covers the first three instead of the first five, it becomes harder for the place portion to win.

The bookmaker can therefore offer a bigger price.

Is More Places Always Better?

No.

This is one of the most important points about Each Way Extra.

More places sound better.

They are not automatically better value.

Suppose Horse A is available at:

10/1, first 4 places

You could instead choose:

7/1, first 6 places

The second option gives you two additional place positions.

But you have sacrificed three points from the win odds.

The place return is also calculated from the lower price.

If the horse wins, the standard terms may produce a substantially higher return.

If the horse finishes fifth or sixth, the extra-place option may be the only one producing a return.

Neither proposition is automatically superior.

You need to compare the additional probability of placing with the price being sacrificed.

Can You Reduce the Number of Places?

Yes, where the relevant option is available.

This is one of the more interesting parts of bet365 Each Way Extra.

Many bettors associate the feature entirely with obtaining extra places.

It can work in the opposite direction.

You can sometimes choose fewer places for a bigger price.

This might appeal when you believe a horse is particularly likely to win or finish very close to the front but consider the standard price too short.

For example:

Standard:

8/1, first 4

Alternative:

10/1, first 3

You sacrifice one place position but receive bigger odds.

Again, whether that represents value depends on the horse and race.

bet365 Each Way Extra Example

Consider a 20-runner handicap.

You like a horse priced at:

12/1

The standard terms pay:

1/5 odds, first 5 places

You stake:

£5 each way

Total stake:

£10

Standard Terms

Win portion:

£5 at 12/1

Place portion:

£5 at one-fifth of 12/1

One-fifth of 12/1 is:

12 ÷ 5 = 2.4/1

If the horse finishes fourth, the win part loses but the place part wins.

The place return would be:

£5 × 2.4 = £12 profit

plus:

£5 place stake returned

Total return:

£17

Now imagine Each Way Extra offers six places but reduces the horse to:

10/1

The horse finishes sixth.

Under the original five-place terms, the entire bet loses.

Under the six-place option, the place part succeeds.

That additional place has therefore materially changed the outcome.

But if the horse had won, the 12/1 standard terms would have produced a better return.

That is the trade-off.

When Can Each Way Extra Be Useful?

The feature can become particularly interesting in large, competitive fields.

Examples include:

major handicaps
festival handicaps
sprint handicaps
valuable Saturday races
races with tightly matched runners.

These races often have several plausible winners and comparatively small differences between horses.

If you believe a runner has a strong chance of making the frame but a less certain chance of winning, extra place coverage can be attractive.

British Racecourses maintains a broader guide to Extra Places Bookmakers if you want to compare the concept across different betting sites.

When Might Fewer Places Be Better?

Reducing the places can make sense when the increase in price is more attractive than the additional place coverage you are giving up.

Consider a horse that you believe has one of two likely outcomes:

it wins or goes very close
it fails to get involved.

Perhaps it is a front-runner that tends to win when everything falls correctly but fades rapidly when challenged.

Additional fifth, sixth or seventh-place coverage may have limited value for that type of profile.

If reducing the places creates a meaningful increase in price, the alternative terms may deserve consideration.

It remains a probability and price decision rather than a fixed strategy.

Each Way Extra vs Standard Extra Places

These two concepts are similar but should not be confused.

Standard Extra Places

A bookmaker may advertise:

Paying 6 places instead of 5

on a particular race.

The bookmaker has enhanced the standard place terms.

You normally do not need to choose between different numbers of places.

Each Way Extra

With bet365 Each Way Extra, alternative place terms can be selected on eligible bets.

The odds adjust depending on the chosen terms.

This gives the bettor more control, but it also means the alternatives need to be compared carefully.

Each Way Extra vs Standard Each Way Betting

Standard each-way betting uses the normal terms available on the race.

You select the horse, choose each way and accept the displayed:

win price
place fraction
number of places.

Each Way Extra adds another decision.

You can potentially alter the number of places and receive a different price.

This makes the bet more flexible but also introduces another variable into the value calculation.

Does bet365 Best Odds Guaranteed Apply to Each Way Extra?

This is an important distinction.

bet365’s current Best Odds Guaranteed terms exclude adjusted Each Way Extra bets where the selected price and place terms differ from the standard Win and Each Way market.

That means you should not assume an Each Way Extra bet receives the same Best Odds Guaranteed protection as a qualifying standard fixed-odds each-way bet.

This matters when comparing:

better place coverage now

against:

potential protection from a bigger Starting Price later.

Suppose you have two choices.

Option A

Standard each-way market:

10/1

with qualifying Best Odds Guaranteed terms.

Option B

Each Way Extra:

8/1

with two additional places.

The horse’s SP eventually drifts to:

14/1

If Option A qualifies for BOG, the winning bet could potentially be settled at the larger SP.

The adjusted Each Way Extra bet does not automatically receive that same treatment.

This can materially change which proposition was better.

Read our full bet365 Best Odds Guaranteed guide for the current conditions.

Why the BOG Difference Matters

Bettors often focus almost entirely on extra places.

Price protection is another part of the equation.

Consider:

Standard market: 12/1, 4 places, qualifying BOG

versus:

Each Way Extra: 9/1, 6 places

If you believe the horse is likely to shorten dramatically, the extra places may look attractive.

If you believe the horse could drift, retaining BOG may have more potential value.

There is no universal answer.

It depends on:

the price difference
number of additional places
probability of winning
probability of placing
likelihood of market movement.

What Happens if There Is a Non-Runner?

Non-runners matter because they can alter standard each-way terms.

For example, a handicap might initially contain enough runners to qualify for a particular number of places.

After withdrawals, the field size can fall below the threshold.

bet365 states that when standard each-way terms change because of non-runners, the corresponding Each Way Extra terms can also change.

This may affect:

number of places
place fraction
settlement.

If the number of runners becomes equal to or lower than the number of places offered when the bet was placed, the relevant Each Way Extra bet may be void under bet365’s current racing rules.

Always check the final terms attached to the specific bet.

Can You Change Each Way Extra After Placing the Bet?

No.

Once the bet has been placed, the selected place terms cannot simply be edited afterwards.

This means you should check:

horse
odds
stake
place fraction
number of places
total stake

before confirming the wager.

Do not select additional places automatically without looking at what has happened to the horse’s price.

Does Cash Out Work With Each Way Extra?

bet365 currently states that Cash Out may be available on Each Way Extra bets before the event begins.

Availability is not something you should assume for every bet.

Cash Out depends on the individual market and circumstances.

Our main bet365 Horse Racing guide covers more of the bookmaker’s racing features.

Is Each Way Extra Available on Every Race?

No.

bet365 offers Each Way Extra on selected horse races rather than guaranteeing it across every market.

Availability can vary according to:

race
field
market
timing
bet type.

The alternative place options available can also differ from one race to another.

Check the racecard or bet slip rather than assuming the same selections will be offered across the day’s racing.

Is Each Way Extra Available on Multiples?

bet365 currently describes Each Way Extra as available for eligible pre-event single bets.

Do not assume adjusted Each Way Extra terms can simply be included in every accumulator or multiple in the same way as ordinary each-way selections.

If you are interested in multiple bets, read our bet365 Accumulator Explained guide.

How to Use bet365 Each Way Extra

The exact layout can change, but the basic process is straightforward.

1. Find an Eligible Horse Race

Open the horse racing section and choose a race where Each Way Extra is available.

2. Select Your Horse

Add the runner to your bet slip.

3. Choose Each Way

Select the each-way option.

Remember that an each-way bet consists of two stakes.

£10 each-way bet

normally means:

£10 win + £10 place

for a total stake of:

£20.

4. View the Available Place Terms

Where Each Way Extra is available, you can view the alternative place options.

5. Compare the Prices

Look at how much the horse’s odds change when adding or removing places.

6. Choose the Terms

Select the combination you prefer.

7. Check Your Bet Slip

Confirm:

selection
price
places
each-way fraction
stake
potential return.

8. Place the Bet

Once confirmed, the selected Each Way Extra terms cannot simply be changed afterwards.

How to Compare Each Way Extra Options

Do not start with:

How many places can I get?

Start with:

What am I giving up to get those places?

Imagine:

Option	Price	Places
A	16/1	3
B	14/1	4
C	11/1	5
D	8/1	7

Option D looks attractive because seven places provide substantial coverage.

But you have halved the effective win price compared with Option A.

If you strongly believe the horse can win, that is a large sacrifice.

If you think it is far more likely to finish fifth, sixth or seventh than win, those extra places have greater potential value.

Analyse the horse first.

Choose the place terms second.

Think About Win Probability

Suppose you estimate that a horse has:

8% chance of winning

but:

30% chance of finishing in the first six.

Extra places may be particularly relevant.

Now imagine another horse with a highly aggressive racing style that you believe has:

15% chance of winning

but only a modest increase in probability when the place coverage expands from four places to six.

For that horse, sacrificing a large amount of win price might be less attractive.

The underlying probabilities matter.

Think About Place Probability

The additional place needs to have genuine value.

Moving from:

4 places to 5

is most useful when there is a meaningful probability of your horse finishing exactly fifth.

Moving from:

4 places to 7

adds three possible successful finishing positions.

The value of those positions depends on the runner.

An exposed horse that repeatedly finishes close behind the principals could benefit more from broader place coverage than a boom-or-bust runner.

Consider the Size of the Field

Extra places are generally more meaningful in larger fields.

Covering:

6 places in a 24-runner handicap

is very different from:

4 places in a 9-runner race.

Large-field races create more opportunities for horses to run well without winning.

They can therefore be natural candidates for analysing alternative each-way terms.

Major handicaps at meetings such as Cheltenham, Royal Ascot, Goodwood and York often attract bettors looking closely at place concessions.

Consider Race Competitiveness

Runner numbers alone do not determine the value of an each-way bet.

You should also ask how competitive the race actually is.

A 20-runner handicap where ten horses have realistic winning claims is very different from a large field dominated by two clearly superior runners.

The more compressed the field appears, the more valuable additional place coverage can become for certain selections.

Consider the Horse’s Running Style

Running style can help determine whether additional places suit a selection.

A consistent horse that frequently runs close to its best might have a strong chance of reaching the frame.

An inconsistent front-runner may either:

win

or:

finish well down the field.

For the first horse, an extra place or two could be valuable.

For the second, taking a bigger price with fewer places may sometimes be more logical.

Use our Horse Racing Pace Maps guide to understand how likely race shape can affect a runner.

Consider the Draw

The draw can also affect a horse’s place probability.

In a large sprint handicap, one section of the field may gain an advantage because of:

rail position
ground conditions
pace concentration
course configuration.

A horse with a favourable draw could have a stronger probability of reaching the places than its overall odds imply.

Our Horse Racing Draw guide explains how stall position can influence different races.

Extra Places and Long-Priced Horses

Each-way betting is particularly popular with horses at bigger odds.

A 33/1 selection does not need to win for its place component to produce a return.

Extra places increase the range of finishing positions that can qualify.

But bettors need to watch the adjusted odds carefully.

Reducing a 33/1 horse to:

20/1

in exchange for several additional places is a substantial price reduction.

The extra places may justify it.

They may not.

Do not judge the offer purely by the number of places displayed.

Extra Places and Short-Priced Horses

Each-way betting on short-priced horses is a different proposition.

At short odds, the place component may offer a limited return.

Sacrificing more of the win price for additional places can reduce the attractiveness further.

This does not mean Each Way Extra is only useful at bigger prices.

It means the value calculation changes significantly as the odds shorten.

Each Way Extra and Expected Value

Extra places can alter the expected value of an each-way bet.

Suppose two options are available:

10/1, first 4

and:

8/1, first 6

The six-place option gives the place portion more ways to win.

But both the win and place returns are being calculated from a smaller starting price.

You therefore need to weigh:

increased probability of receiving a place return

against:

reduced return when the horse wins or places.

This is why the biggest number of places is not automatically the best proposition.

Our Expected Value in Horse Racing Betting guide explains the broader principle.

Each Way Extra at Cheltenham

The Cheltenham Festival is an obvious environment for Each Way Extra because several races attract large, competitive fields.

Festival handicaps can contain:

20 or more runners
closely matched horses
double-figure prices
significant each-way interest.

bet365 currently includes Each Way Extra among its Cheltenham racing features.

Our dedicated bet365 Cheltenham Offers page covers the bookmaker’s Festival-specific promotions and betting features.

Always check the current terms for the individual race because promotions and eligibility can change.

Each Way Extra for the Grand National

The Grand National is another race where additional place coverage receives considerable attention.

The field is large and bookmakers often compete strongly on place terms.

When considering Each Way Extra for the National, compare:

standard price
standard number of places
adjusted price
additional places
place fraction
Best Odds Guaranteed eligibility
other bookmaker offers.

The biggest place number does not necessarily produce the best overall bet.

British Racecourses has a dedicated Grand National section covering the race in much more detail.

bet365 Each Way Extra vs Other Bookmakers

bet365’s feature is distinctive because it gives customers a degree of choice over the available place terms on selected races.

Other bookmakers may instead compete through:

fixed extra-place promotions
enhanced each-way terms
festival-specific place offers
money-back concessions.

If extra places are important to you, compare the entire proposition rather than selecting a bookmaker purely because it advertises more positions.

Look at:

price
places
fraction
BOG
restrictions
qualifying races.

Our Best Horse Racing Betting Sites page compares the broader racing proposition offered by leading bookmakers.

Advantages of bet365 Each Way Extra

The main benefits are:

Greater control over place terms

You can select from available alternatives rather than automatically accepting one set of terms.

Potential extra place coverage

Additional positions can turn an otherwise losing bet into a successful place bet.

Option to take fewer places

Bettors who prefer a bigger price may have the option to reduce place coverage.

Useful in competitive races

Large handicaps can provide particularly interesting applications.

Terms visible before betting

You can compare the available odds and place terms before committing your stake.

Disadvantages of bet365 Each Way Extra

There are also drawbacks.

More places normally mean shorter odds

The additional protection is not free.

Adjusted terms can lose BOG eligibility

This is particularly important for horse racing bettors who value Best Odds Guaranteed.

Not available on every race

The feature applies only to selected markets.

Non-runners can affect the terms

Changing field sizes may alter the place structure.

More choice creates more decisions

It is possible to choose worse value terms simply because the larger number of places looks attractive.

Common Each Way Extra Mistakes

Automatically Choosing the Maximum Places

More places do not automatically equal more value.

Ignoring the Price Reduction

Always compare the adjusted price with the standard market.

Forgetting the Bet Has Two Stakes

A £5 each-way bet costs £10 in total.

Assuming BOG Still Applies

Adjusted Each Way Extra terms are currently excluded from bet365’s standard BOG promotion.

Ignoring Non-Runners

Withdrawals can change the available and settlement terms.

Comparing Only Place Numbers Between Bookmakers

Another bookmaker may offer fewer places but a substantially bigger price.

Using Extra Places on the Wrong Horse

Some runners have profiles that make additional place coverage more valuable than others.

How We Would Assess an Each Way Extra Bet

At British Racecourses, we would work through the following questions:

What are the horse’s standard odds?
What are the standard place terms?
What alternative places are available?
How much do the odds change?
What is the place fraction?
How likely is the horse to win?
How likely is the horse to place?
Does its running style favour a consistent placing effort?
Is it a large and competitive field?
Does the draw help or hinder?
Is the race likely to produce a strong pace?
Does choosing Each Way Extra affect BOG?
Could non-runners materially change the terms?
Are better overall terms available elsewhere?

Only after answering those questions would we decide whether adding or removing places improves the proposition.

Is bet365 Each Way Extra Worth Using?

It can be.

The feature provides genuine flexibility and can be useful in the right race.

But it is not an automatic upgrade from a standard each-way bet.

The key trade-off is straightforward:

More places = generally lower odds

Fewer places = potentially bigger odds

You need to decide whether the change in probability is worth the change in price.

A bettor who automatically selects the maximum number of places is not necessarily getting better value.

A bettor who compares the terms first is making a much more informed decision.

Frequently Asked Questions

What is bet365 Each Way Extra?

bet365 Each Way Extra allows bettors to alter the number of places covered by selected pre-event horse racing each-way bets, with the odds adjusting to reflect the chosen place terms.

Can you get more places with bet365?

Yes. On selected races, Each Way Extra can allow you to increase the number of places covered.

Can you choose fewer places?

Yes. Where available, you can potentially reduce the number of place positions in exchange for a bigger price.

Do you get better odds for fewer places?

The available price can increase when you reduce the number of covered places because the place portion of the bet becomes harder to win.

Do extra places reduce the odds?

Generally, yes. Adding place coverage normally results in a shorter price.

Is Each Way Extra available on every bet365 horse race?

No. It is available on selected races and eligible bets.

Does bet365 Best Odds Guaranteed apply to Each Way Extra?

Adjusted Each Way Extra terms are currently excluded from bet365’s standard Best Odds Guaranteed promotion when the selected terms differ from the standard Win and Each Way fixed-odds market.

What happens to Each Way Extra if there is a non-runner?

If non-runners cause the standard place terms to change, the Each Way Extra terms can also change. Always check the final settlement conditions.

Can I change the number of places after placing my bet?

No. The selected Each Way Extra terms cannot simply be amended after the bet has been placed.

Can you Cash Out an Each Way Extra bet?

bet365 states that Cash Out may be available on Each Way Extra bets before the event starts, subject to availability.

Is Each Way Extra available on accumulators?

bet365 currently describes Each Way Extra as applying to selected pre-event single bets. Check the bet slip and current rules before placing a multiple.

Is Each Way Extra good for Cheltenham?

It can be particularly relevant to large-field Cheltenham handicaps because extra places increase the number of finishing positions covered by the place portion. Whether the adjusted price represents value still needs to be assessed.

Is Each Way Extra good for the Grand National?

The Grand National is a natural race for comparing additional place terms because of its large field and extensive each-way betting. Compare the adjusted bet365 terms with both its standard market and competing bookmakers.

Should I always choose the maximum number of places?

No. More places usually come at the cost of shorter odds. Compare the complete bet before deciding.

Is bet365 good for horse racing?

bet365 offers a substantial horse racing service including fixed-odds betting, Each Way Extra, Best Odds Guaranteed for eligible customers and bets, live streaming, Cash Out, betting tools and major-race markets. Our full bet365 Horse Racing review covers the broader service.

Summary

bet365 Each Way Extra gives horse racing bettors more control over their each-way place terms.

On selected races you can potentially:

increase the number of places for shorter odds
reduce the number of places for bigger odds.

The feature is particularly relevant to large and competitive races where a horse has a realistic chance of reaching the frame without necessarily winning.

But extra places are not free.

Every time you increase the place coverage, you need to consider what you are sacrificing in price.

You should compare:

standard odds
adjusted odds
standard places
additional places
place fraction
win probability
place probability
Best Odds Guaranteed eligibility
non-runner rules
competing bookmaker terms.

The most important rule is simple:

Do not choose the biggest number of places automatically.

Choose the combination of price and place coverage that you believe offers the strongest overall value.

For more on bet365’s wider racing service, offers and features, visit our bet365 Horse Racing page. You can also compare bet365 with other operators through our Best Horse Racing Betting Sites guide.

18+. Gambling involves financial risk. Only bet what you can afford to lose and check the current promotional and market terms before placing a wager.