When the betting exchanges first came online, lay betting was seen as a road to Instant riches. After all, finding a loser must be easier than finding a winner eh? That’s what we all thought, how wrong we were!
In fact looking back now, you couldn’t move for lay betting tipsters offering their valued experience and advice. Software vendors were offering their latest programmes for finding losers and the form ratings salespeople were making a mint…. For a while……
What happened was that people started losing fortunes to the exchanges. What punters failed to realize, was that losing bets would cost them a lot more money than their stake alone, they were now covering the full liability of the losing bet. So a losing bet at odds of 6.0 to a stake of £10 would cost £50. Have a few of those each day, and you’ll see how It crippled punters financially.
Now some people were really smart. They researched the form of all horses In a race, and with such figures to hand, they could almost predict what horses had a chance, and those that didn’t stand a chance. These people have gone on to make fortunes. One guide that’s stood the test of time is False Favorites, and when you see it you’ll realize how much time, effort and research has gone Into the subject. If you’re a horse racing fan, you can check False Favorites out HERE.
When laying was applied to Football, something Interesting happened. Now I know very little about football, but this little Insight has made some great money laying football matches. So Let’s assume that Liverpool were favorites to win a match. If I lay Liverpool, It means that I don’t want Liverpool to win. In this event, If Liverpool lose, or they draw the match, I still win my stake, because Liverpool hasn’t won the game. By laying, I get 2 results out of 3 covered, and that’s certainly putting the odds In your favour.
By doing some simple match research on upcoming games, you could easily get yourself a shortlist of suitable teams to Lay. Some great stats can be found at Goal Profits which could really assist your judgement.
The key thing to consider with Lay Betting Is liability. Liability will cost you money, and we need to minimise that risk, In order to make long term profits. You could reduce liabilities by laying favorites or False Favorites. Or, you could lay more than one selection at the same time. The clever thing is that you won’t have to pay two sets of liability, you just pay the higher odds until settlement.
For Example you lay £10 on the following
Horse A odds 10.0
Horse B odds 6.0
Horse C odds 4.0
Your liability would be £90 for Horse A (the largets odds, therefore liability). As only 1 horse can win, Betfair covers the risk by holding the largest liability. If all of these selections lose, you’d win £30 (£10 x 3).
If horse A Won, you’d lose £70. (£90 minus £10 horse B and £10 horse C).
If horse B Won, you’d lose £30 (£50 minus £10 horse A and £10 horse C).
If horse C Won you’d lose £10 (£30 minus £10 horse A and £10 horse B).
As you can see, the clever use of laying more than one selection, reduces the outstanding liability, but also Increases the chances of a winner. This Is why thorough research Is required when choosing your bets. It can be very profitable though.
I’m a great believer In learning things myself, and most successful bettors know the subject inside out. I’ve lost count of the amount of times people have told me their tales of woe about some service or other which Is having a losing run. To Invest money on blind faith is foolhardy.
I understand why people follow tipping services (because real tipping Is hard work). Not everybody has time to do such thorough research. At least consider back checking the results before spending any money. This will also indicate whether your chosen service Is profitable in the longer term. Racing-Index Is one such service and certainly a first call when doing your research. In fact, It’s quite eye-opening how many tipping services don’t make money, despite the fanfare of false results on their websites.
Laying has really come Into Its own for trading and hedging on the exchanges. The ability to back at one price and then lay at a lower price (or vice versa) creates a profit or potential free bet. The ability to green up In this manner, allows you to make bets with no chance of losing. That’s great news, and what every bettor strives for. Trading offers a unique Insight Into professional betting, which I’ll cover in another post shortly.
Like any skill, it’s worth learning correctly, and that means thoroughly understanding the subject, and how the exchange markets ebb and flow to market events.
I’d like to say that Lay Betting Is an easy road to riches, but It’s certainly not. That being said, with a little bit of application and research, there’s no reason why you can’t make great profits. There’s lots of Information on Youtube and Google to help you, but False Favorites would be a great Initial shortcut to the learning process.
I’d love to hear of your progress, so please get In touch.