Using exchanges (Betfair) for betting on Horse Racing - Any tips and advice?

[Smarty72]

Have taken the plunge and joined Betfair and was wondering how other members use Betfair specifically for horse racing betting. Have mainly traded so far (backed high and then layed low with equal stakes) to give a no lose bet with limited success focusing on the front 3 in the betting and any that start to shorten in the last ten minutes. Have been leaving to match in-play if neccessary but have read that this is inadvisable. Have also found out that any that start to drift a lot in the last 10 minutes usually lose and need to be avoided. Due to low starting bank need to back first before laying as otherwise cannot cover liabilitys. Had a dabble at laying yesterday and picked 4 favourites to lose which turned into a disaster with 3 actually winning. Not looking to make lots of money or big bets just trying to get myself familar with making the correct bets and reading the market. Can anyone who uses this a lot offer any further advice?

[Toast]

Re: Using exchanges (Betfair) for betting on Horse Racing - Any tips and advice? Avoid in running unless you have a bot or fast pictures, otherwise, you will get crucified. As for your betting, stick to what you know, wether it racing, footsie or whatever. My method that works for me is when it comes to racing, on the flat I only bet on listed class or better, same over jumps + class 3 chases. I find that by sticking to my criteria, is more successful than betting on any race. Another thing to consider seriously is the place market. I bet to £100 per race, of which, 20 will be placed at the bookies on the win, with the other 80 in the place market on betfair. The reason for more emphasis on the place market, is obviously more chance of a return, and if my/ your reasoning is sound, you can easily reduce potential placed horses in any race. Ie, in a 10 runner race, usually at least 3 have no chance realistically, ergo, you're looking at going from finding a top3 placing from 10 runners, it's no down to top 3 from 7 runners. Dont get greedy, little fish are sweet, and the rewards will soon build up. This post was sent from Punta Umbria, holiday was paid for via the place market on betfair.

[bully3061]

Re: Using exchanges (Betfair) for betting on Horse Racing - Any tips and advice? Place betting is over looked by many but when there are non runners and BF still paying the original places it's worth a little look.

[joeblitz]

Re: Using exchanges (Betfair) for betting on Horse Racing - Any tips and advice? First of all, any betting account anyone opens is opened in the hope of winning and making a profit! My advice on horse racing would be to lay only in the win market. Look at favourites and stables out of form, ground changes, especially this time of the year and the trainer's stats at the track. 2 bets per day maximum to a decent stake and no chasing! The lay price should be less than 2/1 and don't be afraid to take on the odds on shots if they meet the criteria, especially in maidens. The hot favourites ridden by Spencer are normally good lay propositions. As regards in running betting I would look to other sports such as tennis where you can get real value or any other sport for that matter that you have a good knowledge of. Regarding racing, betting in running is tough as with televised racing there can be delays. On the other hand you could choose a sprint race and lay them all in running at 1/2 and could win that way but that's not for me. There usually isn't any easy money without putting the time and effort in first. Good Luck!