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Can you back a LOSING horse? And make money?
This intel is for the "punters" out there. Ever fancied taking a bet on a horse? Well then you know how hard it is to find a winner amongst, say 12 horses. But what about finding a loser? Of the 12 horses in a race, 11 are going to lose. Would you find it easier to find a losing horse, or 2, or 3, or more in a horse than to find a winner? Of course you would. And now, through the online betting exchanges, Betfair and Betdaq (there are more) you can " be the bookie" and lay horses rather than back them. Now while this sounds easier, and technically it is, you cannot afford to make many mistakes. You might find yourself out of pocket! Let me explain.... If you back a horse at odds of 5/1 and you put $10 on that horse, if the horse wins you will make $50...congratulations! But if you "lay" the horse for a $10 stake (betting against it winning) and give it odds of 5/1 and the horse WINS the race, you as the "layer" or "bookie" will be out by $50. If the horse LOSES, you will pocket the stake of $10. On any one day, you might win 5 stakes of, say, $10 but the one that you lose might cost you $80, meaning that you have lost for that day. If you want more info, have a good read of the Betfair website - www.betfair.com ...and good "laying" |
Betfair Betting Exchange
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