Laying horses is one of the most popular forms of gambling thanks to the advent of betting exchanges like Betfair. But how many people really make money laying horses? Read on and I will share the best methods and pitfalls!
To many newcomers, laying horses to make a profit appears easy. In a 10 horse race you have 9 horses running for you if you choose to lay one! But of course it’s far harder than that and the price you have to lay at reflects it’s chances of winning or losing and in theory laying randomly will be a zero sum game. To explain further, let’s say you lay every horse at 30-1 that’s available. Every 30th horse will be a winner and your profit on the 29 losers will be wiped out! If we want to make money laying horses on Betfair we have to be far smarter.
Another system people follow is to lay the favourite. There’s a statistic that favourites win 1 in 3 races. So in theory they lose 2 out of 3. Again, it’s not so simple in reality and if you lay every favourite you are likely to at best break even or more likely make small losses.
So what is the best way to make money laying horses? We have to be selective in the types of races, not just the horses we lay. In my example above, there are types of races and even race courses where favourites win more like 20% of the time. If we can find these and get a good price to lay them we have the basis for a winning gambling system.
Next we can apply other filters to identify horses which may be favourite but which actually have very little chance of winning. An example is a very weak race where there’s a horse which came second in its last race. Many punters will see this as the leading contender and back it to win, making it the favourite.A bit more analysis may tell us that the race the horse last ran in was even weaker than this one and was over a completely different distance at which this horse is un-tested. This to me would be a very strong lay.
Beware following the herd and beware laying at random! If we apply some logic and carry out some analysis it really is possible to make money laying horses.