WRITTEN BY EX BETFAIR TRAINER

BEGINNER'S GUIDE TO HORSE RACE LAY BETTING
MAKING MONEY FROM LOSERS

Welcome to my Beginner's Guide explaining the concept and benefits of lay betting which has grown in popularity in recent
years with fans of horse race betting who are interested in winning money from backing losing favorites with betting exchanges
like Betfair. The traditional bookmakers like nothing better than a losing favorite, no wonder they are not keen on taking bets from
clients who wish to 'lay a horse', unlike the online betting exchange who are more than happy to accept both back and lay bets .

HOW DOES LAY BETTING WORK?

Lay betting or to 'lay a horse', as it is sometimes known refers to picking a horse - usually the first favorite - to lose a race.
However, unlike traditional horse race betting where you 'back' a horse to win, by 'laying a horse' you effectively become a
bookmaker so that if your horse fails to lose the race and wins then you have to pay.

EXAMPLE LAY BET

You lay In Secret @ 6/1 in the 7.20 at Kempton on Betfair for a GBP 10 stake. Your liability is the stake multiplied by the horse's
laying odds (GBP 10 x 6 = 60), thus you will lose GBP 60 if In Secret wins the race. But if In Secret loses, as you predicted, you win
GBP 70 which again is calculated by multiplying In Secret's laying odds (6/1) and adding your stake (GBP 10 x 6 + 10 = 70). Once
you have entered the stake on Betfair - your liability is automatically displayed next to it. And to see the payout, just click the payout
button so there is no need to worry about calculating your liability and payout - it is done for you.

WHY HAS LAYING A HORSE TO LOSE BECOME POPULAR?

One of the main reasons it has become popular is because it offers greater flexibility than traditional horse race betting. And
sometimes it can be difficult to pick the winner of a race and a lot easier to pick a horse that won't win. And of course, it can be
very profitable, you get much better odds laying the first favourite in the betting than backing it to win. And bookmakers, as we all
know, make their money from losers especially a losing favorite. If you have ever visited a tipster proofing site like Racing Index
and compared the difference in profitability between back and lay tipsters you notice that the lay tipsters show a higher profit margin.

WHICH BETTING EXCHANGE IS IT BEST TO LAY A HORSE WITH?

Betfair is the world's largest online sports betting exchange, and is the preferred choice for anyone interested in winning money
from lay betting because it is usually able to offer better odds than it's competitors. The minimum bet is GBP 2 with no maximum
specified. They charge 5% commission on net winnings ONLY. The currencies supported at Betfair are: AUD, CAD, DKK, EURO,
GBP, HKD, NOK, SEK, SGD, USD. . (Languages supported: English, Danish, German, Italian, Cantonese, Mandarin, Swedish).
NB: US residents cannot join Betfair.

LAY BETTING SOUNDS COMPLICATED?

It can be complicated, as well as requiring a few hours familiarizing yourself with the layout and terms of the betting exchange site
before you feel confident enough to place a lay bet. Although there are many horse racing lay betting system sites offering information
on making money from losers my personal preference is for False Favourites, written by Betfair Trainer Jonathan Burgess. This
step-by-step guide, with illustrated examples of actual races where Jonathan laid the favourite. And additionally shows the different selection criteria used to identify a weak favourite to lay in flat, all-weather and jump racing. The guide also shows how to place a bet
with Betfair. Priced at just GBP 27.26, it is almost half the price of Easy Money From Losing Horses (GBP 53.42) - which has 46 pages
compared to the 200 pages of False Favourites. Jonathan has also contributed articles offering advice on horse racing betting for the official blog of Betfair Education. So if you are looking for an inexpensive, easy-to-understand, comprehensive guide to horse race lay betting from a respected author please visit False Favourites

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