Betfair Race Trading: Pt 4. Laying, Backing And Dutching. Pots Of Gold Or Pots Of Pain.
Laying:
A lot of new customers to Betfair are attracted by the prospect of a new style of bet; namely, Laying, which is being allowed to back the loser of your chosen sport or event.
In relation to horse racing, this is known as Laying a horse i.e. Backing it to lose the race.
Laying a horse to lose is effectively the direct opposite of backing it to win.
It has actually always been possible to do this via a traditional bookmakers by backing every horse in the race to win using a Dutching mechanism, except of course the horse that you want to lose.
The result being, that whichever horse wins the race, as long as it is not the one you chose as the one you want to lose, you will make a set amount of profit.
To do this in a real life situation in a bookmakers as the horses are at the post, you have to be a mathematical savant or some other form of genius, and you may also get a rather strange look from the staff at Ladbrokes.
The Betfair computers take all the aggro out of Laying your selection. They do all the math and present you with a...
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