Laying horses is tricky, but it can definitely be done. Laying is where you’re betting against an outcome happening, just for the record. Well, one type of laying that’s available on exchange websites is “running”. This is where you’re looking to lay horses while they’re in the middle of their races. This is really more or less for advanced players only, as you’ll need to have a good understanding of the way horses travel, what can lead them to getting blocked in and a very good understanding of pace. It’s also very important to have a great knowledge of the form book — horses that appear to be going well can be very profitable.
You also need to find reasons to oppose horses — even when everyone else seems to be hot for them.
A layer on an exchange can really make good money just by laying horses that will trade at a bigger price. Once you have yourself into a position where you’ll profit if a horse is beaten, then you can go later and back the same horse at bigger odds (if allowed) without having to pour in more money based on the position that they’ve already achieved. The amount of profit is locked in but it depends on the original stake, as well as how large the drift in the horse’s price has been.
Figuring out which horses are going to contract in price is tough. There are some horses that always seem to drift, and that’s when you need to cash in.
Here’s an example for you.
Let’s say that you find a horse that you expect all of the other punters to pounce on. You have a good feeling the price will reduce over time.
So you have a 100 GBP bet at 8/1 odds in the morning. This is Bet #1.
An hour before the race the horse is trading at 5/1.
So therefore you get to lay off your 100 GBP stake at odds of 5/1. This is Bet #2.
So let’s say your horse of choice loses.
Bet 1 loses, and you lose 100 GBP.
However, bet 2 wins, and you win back your original 100 GBP stake. You therefore break even.
But what about if your horse wins?
Bet #1 is a winner, and you get 800. But bet #2 is a loser, and you lose 500 GBP.
Your profit is still 300 GBP, overall.
This situation is pretty good — you win 300 if the horse wins, but if you don’t win (the horse loses), you break even and don’t lose over the long haul.
There are some reasons to oppose a horse.
The biggest reason would have to be price. Sometimes the horse just trades at a price that doesn’t represent its real chances in the race. The lower the price related to its chances, the better value it will be for you. Laying all of the short priced horses doesn’t mean that you’re guaranteed to profit, just like if you were to lay all favorites. You need to evaluate each horse individually.
What about ground? Some horses excel at other types of ground that other horses stumble at. Soft ground can trip up horses that are otherwise great, and hard ground can mess up horses that are used to softer ground. The breeding of a horse can give you some clues, but you will need to get deeper.
The course itself can mess with horses. Are the bends left or right handed? What’s the length of the final straight? Sometimes a horse needs a longer straight to really keep going. The sharpness of the turns and hills can really mess with horses as well. The time between runs can also mess up a horse’s chances.
It sounds like a lot of data to crunch, but it’s stuff that can lead to greater profitability. Why not check it out for yourself as soon as you can? You’ll truly be glad that you did!