Horse Racing Systems
Betting Exchanges are a recent introduction into the betting world that have taken the UK gambling community by storm. In the past, bets had to be placed at online bookmakers, where the punter would back a team or entity ans the bookmaker would lay the bet.
In this system, the online bookmaker would lay the bet backed by the punter and offer the odds.
Online betting exchanges cut out the bookmaker and allow punters to both back and lay bets and offer odds. In this sense, they work not unlike stock exchanges.
We'll primarily discuss bet laying on races and how to effective use a horse racing system to find your horses and lay the right odds to maximise the opportunity for a payout.
Laying Horse Racing Bets
It is probably worthwhile at this point to discuss what is actually meant by the term "laying a bet." When you lay a bet, you are essentially betting on horses to lose.
This is the position that a bookmaker typically takes when setting odds for punters to bet on.
Betting exchanges seek to hook up those who back and lay a horse and allow them the opportunity to agree on odds.
At this point, simple math comes into the equation, and it is time to find a strategy.
Any horse racing system using an exchange like Betfair Exchange and focusing on laying bets needs to keep several considerations in mind.
The first thing any horse racing system will tell you is that you should never stake more at the online bookmakers than you can afford to lose.
Betting on sports is at its core a game of chance and even the most careful horse racing system will experience bad luck occasionally.
Another thing to keep in mind when building your horse racing system is to remember that you don't have to bet at online bookmakers on every single race that takes place.
Do your homework, study the horses, study the tracks, and study the conditions forecasted for race day and when you find that backers are willing to take odds that you feel are in your favour, then it's time to start betting at betting exchanges and lay those bets!
If you cannot get odds that you feel are favourable, it is best to sit that particular race out.
Knowing When to Walk Away
Another thing to remember when forming your own horse racing system for use at online bookmakers is that you should not throw good money after bad.
After experiencing a run of bad luck at a bookmaker, a punter may feel inclined to place larger and larger bets in an effort to recover monies lost.
While this horse racing betting strategy may get you out of trouble on the rare occasion, it is almost always a sure loser.
Remember, in the game of gambling, losing money is a part of life and a run of bad luck should not cause one to change their strategy.
Any horse racing system that changes based on the results of a few previous races is a weak one at its foundation and it should be discarded for a more consistent horse racing system.
Making Money from Horse Racing Systems
It is possible to make money laying bets at betting exchanges, but it is always necessary to do your homework and be prepared for losses.
Now, go out there, pick those sure fire losers, offer odds and have fun! In the end, you may be able to make a little money from betting on horses to lose at Betfair Exchange!