Help with laying

[cosmic]

Hello this is my first post, I have been looking at this board for a while  am  impressed.

Although I have had some experience in backing horses, I am new to laying them. I have been looking at this lately, doing some research,  and am going to start doing this soon

There are a few things I am not certain about, could anyone please help me?

When laying am I correct in assuming the following:-<br>If I enter £10 and a price of 1.5, if the horse looses I make a £10 profit, if it wins I loose £5<br>If I enter £10 and a price of 2.0, if the horse looses I make a £10 profit, if it wins I loose £10<br>If I enter £10 and a price of 3.0, if the horse looses I make a £10 profit, if it wins I loose £20

In the above I assume that 1.5 is equal to 1/2 odds on, that 2.0 is equal to evens and that 3.0 is equal to 2/1

Is the price that I take the lay then fixed and cannot change?

Thanks for your help

cosmic<br>

[kersly]

Hi Cosmic,<br>You are correct in your assumptions regarding laying.The price will remain the same unless you cancel the bet prior to it being matched.Once matched thats it.<br>You may wish to increase or decrease the odds you offer or you can do this by cancelling the original price and offering a new price.You can cancel the bet at any time providing it hasn’t been matched.You can also keep checking to see if the price you offered has been taken.<br>As an example the 1.30 at Wolvs tomorrow-On Betfair Squirtle Turtle was offered at 5.5 when I looked.There were punters wanting to back it at 5.7 anyone prepared to offer that price would press lay and enter 5.7.Doing that means you are offering 4.7/1.While YOU are backing at 4.7/1 ON.You would to have at least £47 in your account to be able to place the bet if you offered the odds to £10.<br>Some poor sod thought Spurs were home and dry at half time the other night and offered a ridiculous price.<br>In my opinion  you are best laying at no more than 2.5(5/2).The only time as a layer you are backing odds against is when laying an odds on chance.<br>Don’t know how punters can lay something at 50/1 etc,backing at 1/50 No Thanks.<br>I’m sure people can make it pay and can mathematically balance books to make a profit as there is nothing stopping a person laying more than one in a race.<br>So finally yes you are right in your assumptions .If you wish to change your price be careful to cancel original before offering another price.<br>Good Luck with your venture.Hope that helps.

kersly<br>  

[snowman]

Hi Cosmic,

You are correct in all of your assumptions. Don’t forget also that on any monies won, Betfair (if that is who you are using) will make a small commission charge.

Once you have layed (or backed) a horse the price you have matched cannot change on your bet, though of course the price may fluctuate wildly before the off and you are free to offset some potential losses by backing (or laying) the horse later at a preferential price.

E.G. You lay a horse £10 @ 1.5 for a possible £10 win or £5 loss, later in the day it drifts alarmingly to 4.0 (3/1), you can either:

1, leave your bet, happy that confidence on course is very low.

2, back the horse with £2 to cover the potential £5 loss, reducing your potential win to £8.

3, back the horse with £3.75 for a guaranteed profit of £6.25 no matter the outcome.

Good luck Cosmic – perhaps you’ll let us know how you get on?

[cosmic]

Kersly and Snowman

Thanks for the detailed reply, you have provided some very useful information.

I am still researching to see what might be the best selection methods and have found a few potentially profitable ideas.<br>Hope to start soon.

cosmic

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