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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 a losing favorite with betting exchanges like Betfair and Betdaq. The traditional bookmakers like nothing better than a losing favorite, no wonder they are not keen on taking bets from clients wishing to 'lay a horse', unlike betting exchanges who are more than happy to accept lay bets.

HOW DOES LAY BETTING WORK?

Lay betting or to 'lay a horse', as it is commonly known refers to betting on a horse - usually the first favourite - 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 if your horse wins you have to pay.

EXAMPLE LAY BET: ALTIOR

You lay Altior @ 6 in the King George VI Chase at Kempton on Betfair for a GBP5 stake - see screenshot below. The liability is the stake multiplied by the horse's laying odds minus the stake (GBP5 x 6 - 5 = 25), thus you will lose GBP25 if Altior wins the race. But if Altior loses, as predicted, your payout will be GBP30 (GBP25 liability + 5 stake). After entering the stake, Betfair automatically displays your liability - so there is no need to worry about doing a mental calculation. And to see the potential winnings, just click the Payout button

courtesy of Betfair

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 profit from losers especially a losing favorite. On average, favourites win 35% of horse races.

WHICH BETTING EXCHANGE SHOULD I 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 Betdaq. You can also, safely and speedily, place lay bets from your Android or iPhone by downloading the appropriate Betfair Mobile betting app. Betfair deduct 5% commission from net winnings only, on Betdaq commission is 2%. The minimum Betfair Exchange stake is GBP2. Betfair accepts the following currencies: AU$, DKK, EURO, GBP, HK$, SEK, US$. (Languages supported: English, Danish, German, Portugese, Russian, Spanish, Swedish). NB: US residents are excluded from opening an account with Betfair and Betdaq.

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. If you are looking for a reputable horse racing lay betting tipster I recommend visiting a tipster proofing site like Racing-Index. Here you can compare the performance and profitability of lay betting tipsters. For more information please visit please visit Racing-Index

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