Generally Accepted Lay %'ages

[thunderfoot]

What are the generally accepted percentages to increase Bookmakers SP odds by, to calculate Betfair LAY odds? I think it's about 10% for odds up to about 5.00 (which is as far as I'm looking to go on a new 'system'), BUT how would you then apply that 10%? i.e. Bookmakers SP Odds = 4.00, would Betfair LAY odds be calculated by :- 4.00 +10% = 4.40 LAY Odds or ((4.00-1) +10%)+1 = 4.30 LAY Odds.

[maria]

Re: Generally Accepted Lay %'ages Hi Thunderfoot, I promise I don't mean to sound dismissive of your question, but it honestly doesn't matter whether you use 4.3 or 4.4 to represent a starting-price of 3/1, because whichever one you use is fictional, and you can't measure whether or not your system is a profitable one from theoretical calculations of "generally accepted percentages". You can do this only by consistently putting real bets on with real money at live exchange prices after an extensive period of paper-trading from observing live exchange prices without actually submitting bets. Trying to use these "approximate averages" is the precise reason why so many racing forums are packed with laying systems which make dramatic profits on paper yet nearly all mysteriously and unaccountably fail the very minute any reader tries to duplicate them with real money. Again, I promise I'm not trying to be impolite, but there just isn't a clearer way to make this point: real bets for real money (after extended observation of live exchange prices, of course) are the only way you can learn anything. I think it should surprise nobody that what's "generally accepted" leads to losses, when you look at the proportion of punters who make losses ... :eek