Discover the lucrative world of laying horses for a living. This comprehensive guide explores how you can turn betting against horses into a profitable venture.
Horse racing is a vibrant and thrilling world, but for those who are interested in consistent profitability, “lay betting” provides an alternative approach.
Laying horses, which involves betting against a horse to win, has become increasingly popular among professional punters.
In this guide, we will explore how you can turn laying horses into a steady income stream by employing careful strategies, disciplined bankroll management, and a deep understanding of the market.
What is Lay Betting?
Lay betting is a type of bet where you act as the bookmaker. Instead of betting on a horse to win, you bet against a specific horse winning. If the horse loses, you win the bet. However, if the horse wins, you lose the amount you would have to pay out to those who backed the horse. This form of betting is particularly useful on betting exchanges such as Betfair, where punters can both back and lay horses.
We also wrote a guide on how to make money on Betfair for you too.
How Lay Betting Works in Practice
Consider the following example:
- A horse is offered at odds of 5.0 to win a race.
- You lay the horse, meaning you bet against it at those odds.
- You stake £10. If the horse wins, you will pay out £40 to the person who backed the horse (since £10 x 5.0 = £50, minus their stake). If the horse loses, you collect the £10.
Lay betting is not without risks, but with the right strategy, it can be an extremely profitable approach. Now, let’s dive deeper into the tactics that can make you successful.
Why Lay Betting Offers a Unique Opportunity
One of the biggest advantages of lay betting is that it allows you to profit from a horse losing, which statistically happens more often than not. In a standard race with 10 horses, for example, only one horse will win, while nine will lose. This provides more opportunities to pick losing horses than winning ones.
Key Benefits of Lay Betting:
- Greater Flexibility: You can place lay bets on favorites as well as long shots. Many favorites underperform, providing excellent opportunities to profit.
- Betting on Multiple Horses: You can lay several horses in the same race to hedge your bets.
- Lower Probability of Large Losses: If you stick to laying horses with odds above 3.0, your liability remains manageable.
Proven Lay Betting Strategies for Success
Successful lay punters don’t rely on luck; they implement well-researched strategies that give them an edge. Below are some of the most effective strategies used by professional gamblers.
So if you want to know How to Make a Living by Laying Horses try these techniques out for yourself.
1. Laying Short-Priced Favorites
Favorites are often overpriced due to the amount of money backing them. Statistically, many favorites lose their races, and by laying them, you stand to gain solid profits. The key is to target horses with odds of 2.0 or lower. Although the liability is higher for short-priced favorites, the odds of them losing are relatively good.
2. Laying Horses with Poor Recent Form
Before placing a lay bet, analyze a horse’s recent form. Horses coming off a series of poor performances are more likely to underperform again, especially if they are racing in tougher competition or unfavorable conditions. Always check the last few races, looking at factors like distance, track condition, and jockey performance.
3. Laying in High-Profile Races
High-profile races, such as the Grand National or Derby, attract significant amounts of money, often from casual punters. This tends to inflate the prices of favorites, making them prime targets for laying. In addition, these races are often unpredictable due to the quality of the field, making it easier for a favorite to lose.
4. Laying Horses on Unsuitable Ground
Ground conditions play a crucial role in a horse’s performance. If a horse is racing on the ground it historically struggles with (e.g., heavy or soft ground), laying that horse can be a smart move. Always check the track conditions on the day of the race and compare them to the horse’s past performances under similar conditions.
5. Avoid Laying in Novice Races
Novice races can be highly unpredictable, with many horses improving significantly between races. Avoid laying horses in these races, as form data tends to be less reliable and there’s a greater chance of unexpected performances.
Bankroll Management for Lay Betting
One of the most important aspects of successful lay betting is managing your bankroll effectively. Unlike traditional betting, where you risk your stake, in lay betting, your risk is the liability—the potential payout if your lay bet loses.
Tips for Bankroll Management:
- Set a Budget: Allocate a specific amount of money for laying bets and stick to it. Never bet more than you are willing to lose.
- Limit Your Liability: As a rule of thumb, never risk more than 2-3% of your bankroll on a single lay bet. For example, if your bankroll is £1,000, the maximum liability on any one bet should not exceed £30.
- Use Lay Betting Calculators: Lay betting calculators can help you determine your liability based on the odds and stake size, ensuring you remain within your risk tolerance.
Maximizing Lay Betting Profits with Betting Exchanges
Betting exchanges like Betfair, Smarkets, and Matchbook offer an ideal platform for lay betting. Unlike traditional bookmakers, these exchanges allow users to bet against each other, providing you with the opportunity to act as the bookmaker.
Advantages of Betting Exchanges:
- Better Odds: Betting exchanges often offer more favorable odds compared to traditional bookmakers.
- Liquidity: With higher liquidity in popular races, you can place larger lay bets without affecting the market.
- Trading Opportunities: On exchanges, you can trade your positions during the race, locking in a profit or minimizing a loss before the race finishes.
How to Get Started on a Betting Exchange
- Open an account with a reputable betting exchange (e.g., Betfair).
- Deposit funds into your account.
- Navigate to the horse racing section and select the race you want to bet on.
- Choose a horse you believe will lose, and click the “Lay” button.
- Enter your stake and confirm your bet. The exchange will automatically calculate your liability.
Common Mistakes to Avoid in Lay Betting
While lay betting can be lucrative, there are common pitfalls that can lead to significant losses if not avoided. Here are some mistakes to watch out for:
1. Laying Without Sufficient Research
One of the biggest mistakes punters make is placing lay bets based on gut feelings or limited research. Always ensure you have thoroughly analyzed the race, horse form, track conditions, and any other relevant factors before laying a horse.
2. Overexposing Your Bankroll
Avoid placing too many lay bets at once. Even if you’re confident, unexpected outcomes do occur. Stick to your bankroll management plan and only place bets where you’ve calculated the risk properly.
3. Chasing Losses
If a lay bet loses, never try to immediately recover your loss by placing larger bets. This often leads to poor decision-making and even larger losses. Instead, review your strategy, learn from the mistake, and stick to your initial plan.
We advise reading our responsible gambling guide if you are struggling with your betting experience.
How To Make A Living Laying Horses – Our Conclusion
Laying horses for a living is not only possible but can be highly profitable when approached with the right betting strategies, discipline, and bankroll management. By focusing on value opportunities, laying underperforming favorites, and leveraging betting exchanges, you can build a consistent income stream from horse racing. Remember, the key to long-term success in lay betting is patience, research, and discipline.
Start by experimenting with small stakes, refining your strategies, and growing your bankroll steadily over time. With persistence, you can master the art of lay betting and enjoy the rewards that come with it.
Thanks for reading this How to Make a Living by Laying Horses guide, remember to check out our other betting guides to learn more about betting.
