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Betfair- The Problems of Lay Betting

By: Dave Articlesubmit

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Since the introduction of Betting exchanges at the beginning of this centaury the on concept that has captured gamblers imagination has been lay betting. This is the concept that you can back a horse not to win a race. Initially many rejected it as unnatural, since the dawn of horse racing when the first two horses raced across Newbury Heath punters have been trying to pick the winner. Nobody cared who came second.

Others saw it as a golden opportunity to at last make money from the sport. Common sense said that it must be easier to find horses that would not win rather than finding one that would. Almost immediately horse racing systems were being produced showing “secrets”, loopholes and “hidden” methods to make big money by laying horses to lose.

In the past 10 years it has become apparent that this is not as easy as it appears. Despite the millions that use Betfair the number of punters who make more than £15,000 per year from the exchange is disappointingly low.

Then big problem with lay betting is something called liability. On the exchanges every horse in a race has a price exactly the same as a congenital bookmaker does. Actually there are two prices which fluctuate, the price to back a horse and a price to lay it at. For instance a horse may be 5.0 to back and 5.2 to lay. Exchanges always use decimal prices unlike many bookmakers who still use fractional odds. If you back the horse at 5.0 and it wins you will get 4 times your stake back. IF you lay the horse at 5.2 and it loses you will get the stake less 5% exchange commission. However if it wins you will have to pay 4.2 times the amount you staked. On the exchanges the odds always include the stake so 5.0 is actually the equivalent of 4/1.

Many punters have fallen into the trap of lay high priced runners as they rarely win. Having said that horses do win races at big prices and when this happens if you have layed it can prove costly. If you have two more pr less on the trot it can wipe out your bank just like that. IT is no good having 20 consecutive losers if the 21st horse wins at 30.0 or higher. Another point to note is that outsiders tend to be at much bigger prices than with conventional bookmakers.

The other major drawback is that there is no credit on the exchanges and all money has to be lodged with the exchange before you can strike a bet. If you lay a horse for say £5 at 30.0 your liability will be £145. Twenty nine times £5 as that is what you will have to pay if the horse wins. To lay this bet you will have to have at least that amount in your account.

Some punters have proved that it is possible to make money laying horses to lose but the majority have discovered it is not as easy as it first appears. Do not get suckered in by people who make wild claims that fortunes can be made without effort.

Article Source: http://depositarticles.com/

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