Extrabet Close Bet
This was the position in the USPGA Championship around the 14th hole on the Sunday - as you can see, our selection Rory McIlroy was marginal favourite at the time at 2.75 (7/4)...we all know what happened, however at the time we could have closed the bet down and banked £144.67, regardless of the result, simply by pressing the 'Close Bet' option under the Open Bets section. No need to place a lay bet and hope it gets matched, simply press the button and bingo!

This function is available when a market is open - some markets are covered in-play, as this was; some are only open between rounds. If the value is coloured red then the bet is losing, if it is blue then it is winning. Simple as that.

The amount currently being offered is a little more complicated. To work it out yourself, the probability of the event happening needs to be expressed as a percentage, as does the original price that you backed the player at. In this instance, 2.75 (or 7/4 in fractions - you can choose your preference) reflects a probability of 36.36% - this percentage is then approximated to the mid-point of a binary spread and you are offered the sell price from this spread, multiplied by your per-point unit stake based on they buy price of your original odds. If all this sounds far too complicated then don't worry - you need do nothing more than press 'Close Bet' when the price is right for you!

Now, it's worth noting that when you place a bet, you effectively buy at the prevailing price. Any 'Close Bet' price you are offered will be the sell price as described above. This means that immediately after placing your bet you will appear to be in loss until the price on your player moves, based on his performance or a general market shift - if his odds drift then any offer will decrease; if his odds shorten then your offer will improve. Once the number turns blue then you're in profit - it's then a case of how brave will you be?!

The example we used at the start was based on a real bet - the player in question was Darren Clarke at Loch Lomond and the 'Close Bet' offer at that stage reflected a return of around 20/1 mid-way through his second round. Would you have taken the money at that stage?! We did - whilst he led by more shots at a later stage (and his price did shorten), he did ultimately fail to win meaning we banked a 20/1 winner from a player who ultimately lost.

Fancy trying this out for real? Here's how:

To open a new Extrabet account click here: Extrabet £125 Free Bets Offer. You'll qualify for a total of £125 in free bets and £100 Casino bonus via this link. The way the first free bet works is pretty unique too: The first £25 is a true match on your first bet - essentially Extrabet place the same bet as you up to a maximum of £25 and you get to keep any winnings. The other £100 is a free spread bet once you hit the minimum requirement - click here for full terms and conditions.

Extrabet are one of the fastest-growing bookmakers in the UK and are part of spread betting giant IG Index. We use them exclusively for all of our top 5, top 10 and top 20 golf bets as they have previously paid out in FULL for ties, whereas all other bookmakers apply a pro-rata reduction. Time to jump on the bandwagon!

Extrabet Close Bet Feature - How It Works

One of the most common questions we get asked here at Golf Betting System is around the 'Close Bet' feature on Extrabet and how it works....used effectively this can be an incredible weapon in your betting armoury, so read on!

Imagine the scenario...you've picked a long-shot in this week's tournament at 150/1 and he's started well. So well in fact that he's leading the tournament by 2 shots halfway into his second round, but you still have reservations. He hasn't won a tournament or been in serious contention for some time, reflected by his current quote of 5/1 to win the tournament. Wouldn't it be nice if you could sell your bet right now and secure a profit, regardless of the outcome....

Laying off your bet isn't a new concept of course - if you have the cash to deposit (and can find someone to match your bet) then you could go to Betfair and lay your player off. You're likely to get slightly worse odds than the current 5/1 being offered by the bookies but, hey - you've hedged your bet. The alternative is Extrabet. If you place your bet with Extrabet in the first instance then you can 'close' the bet at any point that the market is being traded and take your profit (or mitigate your losses if things are going badly) without laying off the bet at all...the closest that most of us will get to playing a real-life 'deal or no deal'! The screen will look like this:

January US  Tournaments
2010 PGA Tour Events
Feb 4-7:  Northern Trust Open
Jan 28-31:  San Diego Open
Jan 21-24:  Bob Hope Classic
Jan 14-17:  Sony Open In Hawaii
Feb 18-21:  Mayakoba Classic
Apr 1-4:  Shell Houston Open
Mar 18-21:  Transitions C'ship
Mar 11-14:  Puerto Rico Open
June 17-20:  US Open
July 15-18:  The Open Tips
Sept 23-26 : Tour Championship
Sept 9-12 : BMW Championship
Sept 3-6:  Deutsche Bank C'Ship
Aug 26-29:  The Barclays
Aug 19-22:  Wyndham C'Ship
Aug 12-15:  US PGA Tips
Aug 5-8:  Turning Stone C'Ship
July 19-1 Aug: Greenbrier Classic
July 22-25:  RBC Canadian Open
July 15-18:  Reno-Tahoe Open
July 8-11:  John Deere Classic
July 1-4:  AT&T National
June 24-27:  Travelers C'ship
June 10-13:  St. Jude Classic
June 10-13:  St. Jude Classic
June 3-6:  Memorial Tournament
May 27-30:  Crowne Plaza Inv'l
May 20-23:  HP Byron Nelson
May 13-16:  Valero Texas Open
May 6-9:  The Players
Apr 29-2 May:  Quail Hollow C'p
Apr 22-25:  Zurich Classic of NA
Apr 8-11:  The Masters
Apr 15-18:  Verizon Heritage
Mar 11-14:  WGC CA C'ship
Feb 11-14:  AT&T Pebble Beach
Jan 7-10: SBS Championship
Mar 4-7:  The Honda Classic
Feb 25-28:  Phoenix Open
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