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Sorry if this is the wrong dection but is laying the way to make money from horse racing?
I’ve never placed a lay bet but I wass interested to read an article in the NOTW over the weekend.
Is it really possible to make money using this method?
Does anyone know where I can get some information? I tend to pick plenty of losers so i’d probably make a mint.
Other than just some general do’s and don’t would suffice
I think it is extremely risky. The article you read in NOTW was cobblers if you ask me. Interesting read though.
My Tip: Don’t lay out of form Fanshawe horses. They always seem to bite you when you least expect it. ie. Sir Gerry and Spacious!
Jeff, re the article in the NOTW. Betfair today released the following, so I think we may conclude someone has been telling porkie-pies:
We have been contacted by several customers in relation to an article in Sunday’s News of the World. We would like to make it clear that Betfair was not asked to comment on, or validate any aspect of, the article ahead of publication.
Although we cannot comment on the activities of any specific customer, some facts which may be relevant to some of the claims made in the article include:
the biggest winner in the relevant Britain’s Got Talent market (Susan Boyle winner – Yes/No) won less than £3,000.
No Betfair customer won £1.5 million or anything even vaguely approaching that amount betting on the Champion Hurdle.
No Betfair customer won £500,000 or anything even vaguely approaching that amount laying Monsieur Chevalier at Royal Ascot
The figures shown in the account statement screenshot in the News Of the World do not reconcile to any Betfair account.
The monies present in a Betfair account are obviously no indicator of the sums won or lost on the account.
We would encourage customers to be wary of the claims of anyone purporting to have a profitable system or strategy.
We would encourage customers to retain a healthy degree of scepticism toward any claims made in the press which are not validated by Betfair.
Thats a classic response.
I didnt belive the figures if I’m honest but I have heard that laying short priced favourites is a method used by many.
I really like searching out winners but if i could run something to pay for that then that would be ideal.
In truth I’m probably living in dreamworld
I hear that the NOTW is in takeover talks with Andrex, as both products are used for the same purpose
.. an excellent response from Betfair and all credit to them.
All the silly people that promote the myth that gambling in huge sums of money is a regular/normal thing should be exposed in a similar fashion.
It’s bookmaker inspired fantasy designed to hook in the mugs.
Similar to Dave Jay above, I salute Betfair’s forthright and unambiguous statement. It is especially commendable when you consider that what Betfair needs at present are Layers.
To the opening poster I would recommend caution. Keep in mind that you will be Laying at a price on average 15-20% higher than the bookmaker price. You will be operating in a market with an over-round of 100% as against a bookmaker over-round of 118% and upwards. Are you good enough in the long-term to absorb this penalty before profit. If so, go for it.
Back in 2001/2002 when this Betfair thing was newish, Laying became all the rage — folks thinking it a no-work path to fortune. They soon learned, and were quickly disabused of that notion, retiring chastised and much depleted in funds. The whiff of badly burned fingers hung pervasively in the air.
This laying lark ain’t the license-to-print-money that it might appear to be.Interesting to hear Harry The Dog on ATR yesterday lamenting how he cannot nowadays get a 1.04 price about a contingency that would have been 1.10 a couple of years back. Many of the Layers have given up, the remaining ones are a lot more reserved.
Laying is great fun – until their husbands find out – then it gets very tricky.
Is that from experience, Paul?I’d blame the layer if the husband ever found out.
Can I plead the 5th Amendment?
I’m only surprised you’ve had time to post over 2300 times, what with all this playing ‘hide the sausage’ Paul
Marb, they don’t call him the ‘Beast’ for nothing
I’m only surprised you’ve had time to post over 2300 times, what with all this playing ‘hide the sausage’ Paul
Marb, they don’t call him the ‘Beast’ for nothing
Gave that game up a long time ago Pete – I can’t run as fast as I used to
Laying certainly isn’t a route to riches, unless of course you happen to know the horse in question will lose.
Like any other method of betting on racing, it requires plenty of work and the ability to analyse and price up races more accurately than the majority of punters.
It also requires a certain mentality in my view, as the winning bets are inevitably more frequent, but a single losing bet can wipe out a lot of the successes in a moment. This is not the experience of the punter that is backing horses at odds against. It’s also much more of a grinding approach than backing, as big wins are rare – easier to find a 10/1 winner than a 1/10 loser.
The garbage in the NOTW is about as credible as Gordon Brown’s current spending plans.
Although they would appear to have a much better chance of winning than yer typical 5/2 shot, I love laying odds on shots. I must say I have a pretty good strike rate on them and I’m not particularly selective when it comes to it. Most will probablyu say that it’s one way to the poor house, but there was a Cecil maiden runner at Windsor on Sunday that was 1.29 and didn’t have particularly inspiring form.
Subsequently was well beaten by a springer in the market but coupled with Youmzain (a layers dream) were my only "winners" on the day. saved my bacon for a pretty low level outlay.
It won’t make me a millionaire or give up my job, but it’s fun for me.
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