Betfair laying ?

RadoX

RadoX

RadoX

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well im still searching where to invest money. ive bet on the horses for a while now and i know quite a lot im thinking of investing a few thousand if i can find some info and play around with smaller amounts first. Anyone have any good websites i can read up on about laying on betfair etc ?


also since it seems to be the going thing now at ocuk IN BEFORE BETTING IS BAD MKAY
 
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He doesn't seem to want to lay and then back during the race or vice versa, it looks like he just wants to lay...

If you've got £3000 you want to "invest", look up matched betting. You'll probably be able to get a return, guaranteed if you follow the rules, of £1000-2000 in 12 months. During that time you'll have made so many bets that you'll see 'investing' on things where 90% of it comes down to chance is a mug's game.

Also bear in mind that if you're planning on laying during horse races, presumably laying horses you think won't win, you run a dreadful risk of losing a lot of money - if you lay a horse that hasn't got a cat in hell's chance of winning and has 100-1 odds and it pulls out and wins (such as last year's grand national), even if you have £10 or £20 on you could lose £1000-£2000 in an instant.
 
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Lay betting is a waste of time, I did for a while, was up for some time then came back down very quickly. Thing is you have to lay on the low-odds and they do come home and clean you out plus the returns are evens, steer clear.
 
RadoX said:
well im still searching where to invest money ive bet on the horses
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Does not compute.

Its not investing, its gambling, which is fine for a hobby but I wouldnt ever consider it a way of making money.

The house always wins.
 
J.B said:
Does not compute.

Its not investing, its gambling, which is fine for a hobby but I wouldnt ever consider it a way of making money.

The house always wins.
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Someone's never used Betfair, obviously.

Don't just whack £3k in. Play with £20-£50 and get used to it, understand the laying element too. A lot of people back to lay, i.e place a bet on something, expecting the odds to shorten once the event has started, and lay off if this does happen, which guarantees a profit. You can of course make plenty of money on betfair, you just have to play is very smart.
 
I did matched betting for a while so understand the premise behind it all. Howver I think to be successful at 'backing/laying' you want more irons in the fire than just Betfair. I spoke to a few people that had multiple screens on the go, with various sites refreshing the odds constantly.... sometimes you can find a easy Dutch or an Arb' but very unlikely if not impossible just on Betfair (at the same time).

If losing 3K is not much to you then dont bother with Matched Betting, other wise id say start with that as well. Earn a decent bank from it, then you will understand how to lay and start to spot things.

Id also say time is a factor, plenty of it.
 
I won £250 the other day laying the dealer in Betfair Gamesexchange Blackjack at £10 a time. The next day I was £50 up doing the same thing until I had the inevitable three straight losers (dealer won or drew all hands) and quickly lost £120. That's when I stopped. :)

It's simply nonsense though that laying is a waste of time. It's just another form of bet that the exchanges have enabled us to undertake. A lot of people do make money out of laying favourites in horse racing as often the price is distorted by casual gamblers.
 
mlbtheshow said:
I did matched betting for a while so understand the premise behind it all. Howver I think to be successful at 'backing/laying' you want more irons in the fire than just Betfair. I spoke to a few people that had multiple screens on the go, with various sites refreshing the odds constantly.... sometimes you can find a easy Dutch or an Arb' but very unlikely if not impossible just on Betfair (at the same time).

If losing 3K is not much to you then dont bother with Matched Betting, other wise id say start with that as well. Earn a decent bank from it, then you will understand how to lay and start to spot things.

Id also say time is a factor, plenty of it.
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Yes it's often better to Dutch or take an Arb' between bookies as often the 5% commision (assuming you don't have discount) can make it more difficult to profit.
 
el_dazza said:
Someone's never used Betfair, obviously.

Don't just whack £3k in. Play with £20-£50 and get used to it, understand the laying element too. A lot of people back to lay, i.e place a bet on something, expecting the odds to shorten once the event has started, and lay off if this does happen, which guarantees a profit.
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To Green Out is a great buzz, even if it's only a few quid. :)
 
I work behind the betting industry, unfortunately I dont know much about the betting process, but from the customers I deal with, I do know some do very very well out of this; including some professional gamblers who can afford thousands of pounds a year home installs, which give them some of the content of the major bookmakers, directly to thier home.

If its what you want to do do your research well before jumping in, it can be a dangerous game, and we do hear of the addicts who take it a little too far sometimes.
 
For the life of me I can't remember the name of the company now, but there is a 'social bank' you can invest money in and get decent rates of return.

Perhaps someone else might be able to help?
 
GarethDW said:
It's your money and you're free to do what you want with it but surely gambling != investing.
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pretty much the same thing just using different instruments

If you're having trouble understanding then think of a bet on a horse as a derivative and owning a horse as owning the underlying instrument perhaps.

I don't see why there is anything wrong with anyone wanting to try and make money out of betfair than wanting to make money from betting on FX or from spread betting on stocks etc.. infact the person betting on horses on betfair probably has a less efficient market and more chances to make money.
 
Briton said:
To Green Out is a great buzz, even if it's only a few quid. :)
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Yup, do that a few times and you're on your way. :)

I used the Canary Wharf Sports Exchange in London a couple of years ago. I could have easily spent a week there and made a fortune, their TV pictures are 2-3 seconds ahead (don't ask me how, the guy did explain it), and I made a nice bit on the horses as there's only a 1 sec delay. One horse was 9/4 on my screen which I backed, but it was 2 lengths clear, his rival hit the fence and almost stopped.
 
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