The Home of Professional Lay Betting
It is often said that only the bookmakers win from gambling… So why not bet like a bookmaker? So that’s exactly what we offer here at Racing Lay Bets; teaching you how to make money by betting like a bookie. We do this through a thing called lay betting.
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Which is the best system is really down to the individual, but on this page, we’ll lay out something that is sure to pique everyone’s interest, which you can then go on to use with the best football betting sites. Back & Lay – One of the Best Football Betting. 4 Proven Betting Systems That Work. I remember when I first started searching for a proven betting system googling the term “ betting systems.” There was all sorts of progressive staking systems, martingale systems, stop at a winner systems, progressive laying systems. Jun 11, 2020 A betting exchange account is a must have in 2020. They offer a huge range of benefits including lay betting, great value odds and much more But which are the best betting exchange sites? Let’s check them out Best betting exchanges. So the best betting exchanges available in 2020 are. If you’re interested in placing ‘lay bets’ as well as the more traditional ‘back bets’, then you will need to look for an online betting exchange rather than a traditional online bookmaker. Online betting exchanges differ from traditional sites in that they allow punters to bet against one another and it is this which makes both types.
What Is Lay Betting?
Lay betting is simply betting that something won’t happen. In horse racing, laying a horse is picking a horse to lose a race. Unlike traditional betting where you back a horse to win, laying a horse means that you assume the role of a bookmaker – if the horse loses you win, but if the horse wins you pay out. Just click How-To-Lay to learn more.
Make Profit With Lay Bets
Everyone knows its much easier to pick a loser then it is to pick a winner. Think about it. The average horse race has 8 horses. There can only be 1 winner – that means 7 horses will lose! And probably out of the 7 losers only 2 or 3 even had a chance of winning. So all you would have to do is pick 1 out of the 4 or 5 horses that has no chance. So it’s easy right. Well not quite.
Picking Profitable Horses
The secret to lay betting is minimising loses. Statistically, 32% of favourites actually win their race. That means 68% lose. But here at Racing Lay Bets, we use our unique favourite-profiling system to eliminate the good favourites and increase the chances of our favourites losing to 87%. This impressive strike rate is how are able to delver our excellent long term profits!
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Here are some examples:
- Nature Strip not to win his next race
- Australia not to beat New Zealand in the Bledisloe Cup
- Collingwood Magpies not to win the Grand Final
Essentially, you are offering a price that other people can Back bet with you at.
What do the odds represent?
The odds you will see in the pink column of the market view, the Lay price, is the price that someone wants to place a Back bet at but is yet to be matched (more on matched bets later). You can take this offer straight away rather than putting your own odds up. Alternatively, you can enter your own odds and see if it gets matched later or Lay using the Betfair Starting Price (BSP) which will be matched at the commencement of the given event. If your bet returns a profit, you will be charged a small commission.
Broken down, there are three key components:
- Lay odds – the odds which you are prepared to give someone wanting to place a Back bet.
- Backer’s Stake – the amount you are prepared to let the backer bet with you. This is your potential winnings.
- Liability – (Lay Odds) x (Backer’s Stake) – (Backer’s Stake). This is the amount you are risking.
Here is an example on the AFL:
You don’t think West Coast can win the Premiership and the current Lay odds are $8.00. You enter a stake of $10.00. This means that someone on the other side is placing a $10 BACK bet at odds of $8.00.
In this scenario, your liability is $70, calculated by Lay odds ($8) x backer’s stake ($10) – backer’s stake ($10).
This means that if West Coast don’t win the Premiership, you will make $10 (the backer’s stake). However, If West Coast do win, you lose $70.
Lay Betting Sites In Nigeria
Why Lay bet?
Sometimes it can be easier to find a team or horse(s) that won’t win as opposed to finding the winner. In a 14-horse race, there will only be one winner – if you can’t identify that winner it might be easier to find a horse or multiple horses that you know won’t win.
Another benefit of lay betting is the ability to “trade out” of an earlier bet that you may have had or make a “green book” which means to secure a profit regardless of the result. You will learn more about trading further into these tutorials.
Learn how to understand the market view
Now that you know the basics of a Lay bet, it’s time to understand the market view on the Betfair Exchange. It can be overwhelming at first but our simple guide will allow you to navigate it like an expert.
Click the NEXTbutton to progress to market view education or start your Betfair Basics tutorial here.