Some information about laying horses to lose
Bookmakers have been placing laying bets on horses to lose ever since horse racing began. As a member of the public putting a wager on a horse, we are actually involved with laying horses each time we make a bet. We are merely on the opposite side of the transaction. To back a horse, there will always be somebody who must cover the other side of the bet. Yet so many punters mistakenly think they are not familiar with laying horses, so they shy away from it entirely.
Here we wont show you how to make a profit by laying horses. It will not even explain exactly how you lay a bet on a horse to lose. My intention when writing this article is merely to show you that putting lay bets on a betting exchange is not some sort of ‘dark art’ and there is nothing ‘smoke and mirrors’ about it.
Normally the bookmarker takes the role of the lay better. This role is something we are all comfortable with. But let’s examine the mechanic of placing a bet:
In this example, let’s assume we are going to back a horse called General Account at a price of 3/1 and for a stake of £10
We approach a traditional bookmaker and this is what we are offering: we are prepared to wager our stake of £10 on the chance of this horse General Account winning the race. The price we are happy to accept is 3/1 If the horse loses, we will give the bookmaker our stake money. However, if the horse does win we take our money back, and furthermore, the bookmaker gives us another three times our stake money as profit.
In placing this stake, we are wagering on the fact that this horse will win – it stands to reason, if we didn’t think it stood a chance of winning, we would not place our back bet.
Now remember, in order for a stake to be placed, the book maker must also agree to the conditions of the bet. To lay the bet at the price of 3/1, a bookmaker is happy to risk three times our wager. To take our stake, the bookie is of the opinion that General Account wont win the race. If he thought the horse was going to win the race, he would not accept our stake, or at least he certainly would not wish to risk so much money, so would offer lower odds
As you will observe that the only difference between a punter and a bookmaker is their opinion of who will win the race – we think General Account will come first, and the bookie disagrees, and we are BOTH prepared to put our money where our mouth is.
In effect, where a punter is wagering that a horse will win, a bookie is simply betting that the horse will not win. It is no more complicated than that.
Since 1999 and the introduction of betting exchanges, we can all have the opportunity to play the role of bookmaker. Betting exchanges are put simply a place where you can find another person who has the opposite opinion to you, and match his/her stake.
If you turn out to have the better judgement, then you will win your bet. If your ‘opposite number’ on the exchange turns out to be correct, then you will lose, and you will have to pay the other person at the odds established when the wager was placed.
At the end of the day, laying horses to lose may still not your betting temperament. But hopefully you now have the confidence to learn more. Despite what you may read, making money by laying horses is no easier than trying to profit by backing horses. In fact there is no real difference in terms of risk.
As a punter, if you are happy to stake money behind your opinion that a horse will win, there is totally no reason you shouldn’t also take the chance to win some money, if you feel a certain horse will not win a given race.
Here we wont show you how to make a profit by laying horses. It will not even explain exactly how you lay a bet on a horse to lose. My intention when writing this article is merely to show you that putting lay bets on a betting exchange is not some sort of ‘dark art’ and there is nothing ‘smoke and mirrors’ about it.
Normally the bookmarker takes the role of the lay better. This role is something we are all comfortable with. But let’s examine the mechanic of placing a bet:
In this example, let’s assume we are going to back a horse called General Account at a price of 3/1 and for a stake of £10
We approach a traditional bookmaker and this is what we are offering: we are prepared to wager our stake of £10 on the chance of this horse General Account winning the race. The price we are happy to accept is 3/1 If the horse loses, we will give the bookmaker our stake money. However, if the horse does win we take our money back, and furthermore, the bookmaker gives us another three times our stake money as profit.
In placing this stake, we are wagering on the fact that this horse will win – it stands to reason, if we didn’t think it stood a chance of winning, we would not place our back bet.
Now remember, in order for a stake to be placed, the book maker must also agree to the conditions of the bet. To lay the bet at the price of 3/1, a bookmaker is happy to risk three times our wager. To take our stake, the bookie is of the opinion that General Account wont win the race. If he thought the horse was going to win the race, he would not accept our stake, or at least he certainly would not wish to risk so much money, so would offer lower odds
As you will observe that the only difference between a punter and a bookmaker is their opinion of who will win the race – we think General Account will come first, and the bookie disagrees, and we are BOTH prepared to put our money where our mouth is.
In effect, where a punter is wagering that a horse will win, a bookie is simply betting that the horse will not win. It is no more complicated than that.
Since 1999 and the introduction of betting exchanges, we can all have the opportunity to play the role of bookmaker. Betting exchanges are put simply a place where you can find another person who has the opposite opinion to you, and match his/her stake.
If you turn out to have the better judgement, then you will win your bet. If your ‘opposite number’ on the exchange turns out to be correct, then you will lose, and you will have to pay the other person at the odds established when the wager was placed.
At the end of the day, laying horses to lose may still not your betting temperament. But hopefully you now have the confidence to learn more. Despite what you may read, making money by laying horses is no easier than trying to profit by backing horses. In fact there is no real difference in terms of risk.
As a punter, if you are happy to stake money behind your opinion that a horse will win, there is totally no reason you shouldn’t also take the chance to win some money, if you feel a certain horse will not win a given race.
Related Articles:
-
Until the latter part of 1970s, playing on slot machines or at the roulette tables was not... Read Full Story » -
Rainbow Riches is one of the best known Barcrest slots available to play online. However the... Read Full Story »
Comments
