Lay the right way

[crueser]

Most say in gambling theres only one winner- the bookie, in many respects this is right, the odd time you may have a yankee come in or the tote but generally most break even at best. Now with the option of being able to lay gives you the chance of being the bookie and if you cant beat them join them right- WRONG!! Nearly everyone who lays including the tipster have got this wrong, totally wrong, if you are a layer and I include myself here have been only playing at this, let me explain. I recently bumped into a old mate of mine who I hadnt seen for a few years and like you do lose touch, now my old mate has worked in the family business for years, whats the family business? On course bookies.........why I never thought of tracking him down years ago is a silly mistake on my part. Over a few pints we of course got round to chatting about horse racing and that your average punter can now be a bookie laying horses, by this point my friend was grinning and shaking his head in disbelief at whats most of us have been doing, and you know what hes right, the other thing is, its so simple when you think about it. We as layers have been sucked in with the info vids and websites about laying, its utter rubbish and heres why........who ever heard of a any bookie who only lays odds for ONE horse?? If they did they wouldnt be in business too long, imagine, they would have a couple of losers and then like the rest of us have their winning wiped out, long term this is very dumb and stupid to quote my friend. He makes his money on the rest of the field losing, in effect he is laying the field, now please dont start with this over round book, thats another piece of internet info thats been blown out of all proportion, yes if you layed them all you would lose of course but there has to be one winner. Bookies target one winner usually, how do they do this? They dont, market forces do, now if the majority of his takings are on for that horse and it wins, he reduces his liability by all the rest of the field losing, if that horse loses he makes a profit depending on how much and what odds other punter has backed at but usually this makes a profit, if an outsider wins and no one has backed it, he cleans up the lot. With some wheeling and dealing on betfair you can do the same, target your lay, lay the rest of the field for smaller amounts, playing around for 5 mins you can sometimes get around 60/40, so that would be lose 60 if the horse wins or win 40 laying a 3/1. So there we have it from the horses mouth so to speak, he protects his bank, expects to lose some but will make a profit at the end of the day 9 times out of ten, oh yes one final thing. he tells me they love it when there are more than 11 runners in the field!!