Bet Your
Cherry Bets – An Introduction To Laying Horses
Bookies have been laying bets on horses to lose ever since horse racing began. As bettors speculating on a selected horse, we are actually involved with laying horses every time we have a bet. We are simply on the other end of the transaction. To back a horse, there will always be somebody who must lay the bet. Yet so many people think they are unfamiliar with laying horses, so they shy away from it entirely.
Laying bets on a betting exchange is not some kind of mystical art. Traditionally it has always been the bookies who have taken on the role of laying bets. This norm is something we are all used to, and comfortable with. But let’s examine the mechanics of placing a bet:
In this example, let’s assume we are going to back a horse called Sunset Prince at a price of 4/1 and for a stake of £5. We approach a bookie and this is what we are offering: we are prepared to risk our stake of £5 on the chance of this horse Sunset Prince winning the race. The price we are happy to accept is 4/1 – If the horse loses, we will give the bookie our stake money. However, if the horse wins we shall take our stake back, and furthermore, we require that the bookie gives us four times our stake money as profit. In placing this bet, we are of the opinion that this horse will win – it stands to reason, if we didn’t think it would win, we would not risk our stake money.
I make no excuses if my explanation of placing a bet is perfectly obvious to everybody. As I said earlier, we are all totally familiar with this standard type of betting transaction. Don’t forget, in order for a bet to be struck, the bookie must also agree to the terms on the table. To lay the bet at the price of 4/1, the bookie is happy to risk four times our stake. To take our bet, the bookie is of the opinion that Sunset Prince will NOT win the race. If the bookie thought the horse was going to win, he would not accept our bet, or at least he certainly would not wish to risk so much money, and would not agree to a bet at 4/1 Hopefully you can see that the only difference between a bettor and a bookie is their opinion of who will win the race – we think Sunset Prince will win, and the bookie disagrees, and we are BOTH prepared to put our money where our mouth is.
In effect, where a bettor is betting that a horse will win, a bookie is simply betting that the horse will NOT win. It is no more complicated than that. Nothing devious, and nothing untoward. Since the emergence of Betfair as the major betting exchange, we all have the opportunity to play the role of bookie. Betting exchanges are simply a forum where you can find other bettors who hold the opposing view to you, and match their bets. If you turn out to have the better judgement, then you will win. If your ‘opposite’ on the betting exchange turns out to be right, then you will lose, and you will have to pay them their dues. It is no more complicated than that.
When all is said and done, laying horses to lose may still not suit your betting temperament. But hopefully you now have the confidence to find out more. Despite what you may have heard or read, making money by laying a selection is no simpler than trying to profit by backing a selection. There is in fact absolutely no difference in terms of risk. As a bettor, if you are happy to put some money behind your opinion that a horse will win, there is absolutely no reason you shouldn’t also give yourself the opportunity to profit, if you feel a certain horse will not win a given race.
Find out how to profit from laying horses with The Cherry Lay System. We’ve experienced some remarkable results.
About the Author
Cherry Bets offer unique betting systems which will maximise your profits and keep your risks to a minimum. The one thing they have in common is that they have ALL proven to be highly successful. Visit cherrybets.com to find out more.
Groucho Marx 1951 You Bet Your Life Part 2
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