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Horse racing lay betting explained sum
What are the advantages of lay-betting? Think about it: If you have no solid opinion about who has a good chance to win the race, but because of the pace situation, conditions of the race, conditioning cycle or whatever - you feel that a particular horse has an extremely poor chance of winning the race - you can bet that horse will lose. This allows you the opportunity to make value wagers in races that you previously had to pass. Or the other side of the coin, say you feel strongly that a certain solid contender will win - you can now bet him to win, and one or two other over-bet horses to lose.
This increases your leverage in a "strong opinion" race. This creates a hedge that protects your win bet and essentially creates a "no-lose" situation. Another important aspect of lay-betting has to do with the player's psyche. As we've discussed many times in past writings, the mental attitude of the horse race bettor is all-important.
Nothing improves a bettor's attitude more than cashing tickets! If a horse player always feels that he has a big shot to cash a ticket in the next race, optimism is there and the attitude stays positive. But that still means losing 62 out of every races - hardly conducive to maintaining confidence that the next race will be a winner. The sub-conscious of the bettor will start reinforcing the idea that almost 2 of every 3 wagers will lose.
Now - what would lay-betting do for that player's mental attitude? It is the mirror image of the above - only better. The bettor could now win 66 out of every wagers simply by betting against all the favorites! That approach still wouldn't be profitable used in such a generalized manner.
At that point, the sub-conscious notes that 3 of every 4 tickets are now being cashed and it begins to expect to cash the next wager because this is predominantly true. A new "winning reality" emerges. Exchange betting involves different people offering other people odds, depending on the chances of a certain outcome unfolding. Thus, lay betting is also the exchange of odds, but in reverse. In a lay bet, a person will offer someone else the odds of a result not to happen.
Liability Unfortunately, when betting on an outcome not to happen, you must, when placing the bet, enter the liability of your bet in your stake. This means that your stake, because you are betting against the outcome, must be larger than it would be if you were betting for an event to happen.
However, the bonus is that the likelihood of the outcome happening if you lay it is greater. Therefore, it is probably better to lay the favorite in a race if you do not think the horse is going to win because the liability will be smaller.
Take the Epsom Derby. The winner, Camelot, would have been a fabulous price to lay and the liability would have been very small indeed. However, the horse won and those that finished behind would have required a much larger liability. The market implied that nothing could beat the Australian wonder horse, but, coming towards the line, the Coolmore-owned Group 1 winner was worn down by the Godolphin-owned Rewilding. Not many expected this result; however, those that did lay against So You Think would have counted their coins, especially seeing as the liability on the horse would have been extremely low.
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If it doesn't win, you lose. The statistics on this can vary, but in horse racing, the favorite usually wins around 33 percent of the time. Keep in mind some races are better suited for lay bets than others. Ideally, you want a race in which it's difficult to predict the race and one that also has multiple horses that are considered favorites with short odds.
The lower the odds are on a horse, the less you have to pay out if it wins. The more likely it is for a number of horses to possibly win, the more likely it is your lay bet will also produce a winner. As some races are more conducive for lay bets because of the odds, different types of races can also work in your favor because of their unpredictability. Sprint races are hard to call and often produce favorites with short odds that don't win. Additional races that are hard to predict include handicaps in which weights are used to make the horses more equal and therefore produce lower odds.
Because the horses are largely unproven, races for juveniles two-year-olds and races early in the year for three-year-olds also tend to be unpredictable and represent good opportunities for lay bets. Although they are most commonly found in horse racing, lay bets can also be found in other sports such as soccer , golf , and tennis.
In cases such as these, you are also betting on a team or athlete not to win their game or match. This means that even if a certain horse does win, all of the lay betting on the other horses should see them still make a profit in the long run. The most common form of lay betting in horseracing, though, is to simply lay an individual horse or a couple of horses.
This is because a race can only be won by one horse; the others all love. So, it is easier to pick a loser than choose a winner, right? Should you lay bet the favourite in horseracing? A common discussion when working out lay betting in horseracing is whether or not to lay the favourite. Many people choose to lay the favourite because, as any gambler will know, the favourite does not often win in horse racing.
Indeed, the favourite is far more likely to actually lose than win in a horse racing event. Favourites are also usually under-pried during major horseracing events. This means that the probability of the horse winning is lower than what the odds suggest. So, by laying the favourite, you make sure that you can maximise profit whilst minimising the potential liability and risk. The horse that is the favourite is a good choice to lay because it can provide great value to the lay bettor, but not much value to the backers.
So, this means that you will be able to coin in more in returns than you will pay out in liabilities should the favourite go on to win the race. The smaller payout compared to the probability of the favourite not winning means that this is a common choice for horseracing lay betting.
Typically, the best times to lay bet in horseracing will include looking for races where there is a series of favourites as opposed to one clear track favourite. The lower the odds that are on the favourite, the smaller your liability is going to be. So, do not feel like you need to use lay betting in horseracing for every race.
Instead, focus on races which are unpredictable and with many similar-priced favourites, making it easier for your lay bet to pay off and come true.
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New reg only. Horse racing lay bets If there was a clear favourite for a major horse race like the Cheltenham Gold Cup, then you might wish to try a lay bet on this runner. This would be much simpler to win your bets as we all know how difficult it is to predict a winner when there are many different runners in a big horse race. Rather than betting on Tottenham to win, you could instead put down a lay bet on Arsenal. As a result, you would win your bet if Tottenham won, or if the match was drawn.
Benefits of lay betting One of the key reasons to try lay betting is that it often makes it easier for you to win your bet. If a Formula 1 Grand Prix race had Lewis Hamilton down as the clear favourite with short odds, you could try laying that driver and find that you get better odds by backing Hamilton not to win the race. Most people who lay bets will keep the odds fairly short so that their liability is reduced. We should also note that lay betting is fairly counterintuitive and goes against the thinking of most sports fans.
This is the best way to unlock value in your lay bets, and you can usually get the best options for this whenever the big sporting tournaments like the FA Cup final and teams like Manchester United are involved. We should also note that live betting can be a great way to shake things up now that you've had lay betting explained. If any other horse wins the race than the one you selected, you win the bet.
If your horse wins the race, then you have to pay out. In addition to picking against your horse to win, another tempting aspect to lay betting is you are assuming the role of the house or bookmaker. Say there are eight horses in a race. This means seven of them will be losers, but in case of a lay bet, all seven of them could actually make your bet a winner. In this sense, the odds are definitely in your favor.
Although gamblers will have their own opinions on the best way to make lay bets in horse racing , quite often the best option is to pick the favorite to lose. The odds on picking the favorite will offer the best value bet and have a greater chance of paying off than a back bet, which is picking the favorite to win. In a back bet, if the horse wins, you win. If it doesn't win, you lose. The statistics on this can vary, but in horse racing, the favorite usually wins around 33 percent of the time.
Keep in mind some races are better suited for lay bets than others.
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