Quote:
Originally Posted by Winner4Me  Yeah.
I mite try doubles tomorrow. I get them more than trebles.
I will look into the betfair thing.
Im trying to work out that laying or backing system....kinda hard for me to understand. 
Just want to work out how you make a profit on that system with that? |
Do you mean you are trying to understand how laying works? If you are clued up on it then ignore me but if you choose to lay a horse you are betting against it winning, so providing any horse other than the one you have laid wins the race, you win your bet.
If you lay a horse and it goes on to win then you lose your bet and must pay out winnings to the person that 'matched' your bet on the exchange.
For example, say you lay Rowe Park at odds of 20.0 for £2 then you would win £2 if any horse other than Rowe Park wins. However, if Rowe Park wins the race then you pay out 20.0 x £2 = £40 to the person that matched your bet.
What some punters do is back a horse when its odds are high if they think the price will shorten, then lay that same horse on
Betfair at much lower odds. That way, whether it wins or loses they make a profit. It is called making a green book although it is hard to do and you need to know which way the odds are going.
For example, they may back Borderlescott ante-post well in advance of a race at odds of 25.0. On the day of the race they may decide that because its odds have shortened dramatically, say to 5.0 that they will now lay it off at 5.0 such that they will cover their initial stake from the ante-post bet.
Anyway, it is pretty complicated stuff and not something to go into if you are new to betting.
Back to you roriginal point and my suggestion about doing
betfair multiples, you don't need to worry about laying for that. If you did one of those it is classed as a 'back' bet so the most money you could lose would be your stake.