- This topic has 9 replies, 4 voices, and was last updated 17 years, 9 months ago by
.
- Posts
Can someone explain to me how to lay on Betfair etc and what the minimum financial risk possible gain can be etc?
I’m a backer normally but am tempted to lay a few horses in the next few weeks if I can work out how to do it properly haha
Thanks
DanI note that this is your sixty nineth post Halfwaytoheaven.
Being tempted to lay a few horses, is both dangerous and illegal.
Backing two runners is the relentless pursuit of value. Backing each way is a shortcut to the poor house. Only 7% make a long term profit.
Halfwaytoheaven.
Dead simple. It’s the complete opposite to placing a winning bet. You pay out the odds ( BF gives you the total ) or you gain the value of your lay bet less commission.
What are you going to lay and why ? I’m sure that someone will suggest how you do this. It could be a lay win, place, A v B or Reverse Forecast.
Backing two runners is the relentless pursuit of value. Backing each way is a shortcut to the poor house. Only 7% make a long term profit.
It’d be a single. I’m considering laying DoM for Saturday
Do you have to pick your price or is it stuck at the highlighted lay price?
Are you familiar with Betfair?
Have you placed win bets with them?
I’ve backed bets with them before yep. Only at the price shaded in blue though
Since joining Betfair a few weeks ago I have traded 13 times and been succesful with all 13 and 12 of those were lays. My policy is to identify no hopers that cannot win or be placed (if I’m using the place market) and if they are less than 100/1 I will lay them. Most of those I have layed have ran atrociously but two of them ran much better than I thought and could have cleaned me out completely.
That is the problem if I get it wrong even once my bank will be wiped out completely. Also you usually cannot get more than a fiver on and sometimes the minimum 2.00.
As I grow more confident in interpreting form I will definitely change policy and try laying false favourites, there are usually 2 or 3 every single racing day.
Well basically here’s what you do:
At the moment, the figure in Red on Betfair is 3.15 which is just over 2/1. If you are happy to lay him at 3.15 then you click that Red button and the figure you put in the box is the backers stake. For every £1 you put in this box, you stand to lose £2.15.
Assuming that you don’t want to lay him at 2/1 (he is 8/11 with the High Street), then you decide what price you DO want to lay him at. If you want to lay him at say 11/10 (you risk £11 of your money to win the backers £10), then you calculate the decimal odds for 11/10 which is 2.10. Then when you click on the Red button you enter 2.10 in the place of the 3.80 and put the backers stake (of say £10) in the other box.
Hope this helps
- You must be logged in to reply to this topic.