When you lay a bet, however, you are tipping that said runner or competitor will lose. Thus, laying the odds casts you in the role of bookmaker. This creates huge opportunities to collect when a favourite fails to fire, but without having to place a specific counter-wager. There are already so many different ways to bet on greyhounds and horse racing. Fixed odds, top fluc, mid div, tote — every racing bookie offers a wide variety of price options for each runner.
The Betfair Global Exchange provides a very interesting alternative, especially for customers who like to wait for the late mail. The beauty of the peer-to-peer wagering format is that it is about people. As corporate bookmakers set their odds according to very specific formulas and profit margins, sometimes their prices do not reflect the true value of a result.
P2P punters are not bound by such business interests, which creates a much higher level of volatility and variance than you will find at most other betting sites. People will float exaggerated odds to try and attract interest, especially in the last few minutes before the start of a race. This is where Betfair racing markets suit the patient punter. Online bookmakers are not in the habit of advertising how much money is coming in for any given market.
Even when they publish such figures for special events, it is usually done through a press release issued to media affiliates. At Betfair, you can see exactly where punters are putting their hard-earned. At the top of every market on the betting exchange site is a display that shows how much cash has been matched, while each back and lay option tells you how much money remains unmatched for that particular bet.
These figures are refreshed every few seconds, so they are always up to date. This opens up a new window that displays the busiest markets in the entire exchange. You can refine your search by sports category and rank findings by either the amount matched or the amount unmatched.
Betfair is a haven for racing punters, especially now that the Australian site is hooked up to the Global Exchange. There is a market for just about every thoroughbred race on the planet, including some long-range futures you might not find elsewhere. Bookies can be rather conservative with their antepost betting options for horse racing, often waiting until the field is significantly narrowed before opening their markets.
The Australian betting industry has gone through some pretty big changes of late. No longer can you receive sign-up bonuses from agencies in Australia, making it that little bit harder to work the odds into your favour. However, what we do have at our disposal is the Betfair exchange. Positive Outcome: Collingwood wins, so my back bet is successful.
Lay betting is a different type of betting experience that the Betfair exchange offers. Laying a bet is most popular with racing or sporting events with a big field of contestants. That concludes our first in a series of Betfair strategy articles. Be sure to check back soon to see more ways to use the Betfair exchange to your advantage, and click on the banner below to create a Betfair account today!
Melbourne heads into lockdown on Friday night, but Trent Crebbin has you covered with today's best bets for Moonee Valley! Find his preview and tips here. After a huge upset in the first test, England will be keen to keep the momentum rolling as they face an Indian side who need to lift when the 2nd Test match between India and England commences on Saturday. Billy Bestford provides his preview and betting tips for the 2nd Test here! While it may look devoid of names away from the main event, from a betting standpoint, the card is one of the best of the year.
Check out our UFC betting tips here! The Premier League season rolls on as we arrive at matchday 24! We have you covered with our betting tips for the key games below. The best Australian sports betting sites ensure safe and successful online betting for punters.
Here's our list of the best betting options in Australia. Julian Vallance from Sportsbet takes us through some of the key factors which he uses with pricing upcoming horse races such as performance ratings. Check out his video from Sportsbet here.
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Typically, bookmakers represent the lay side of a bet, so they will offer customers odds which they are willing to lay. However, on the Exchange, customers can play the role of both back and lay bettors themselves, meaning you will be 'matching' bets with fellow bettors, rather than a bookmaker. If you are placing a back bet that means you are putting your money on something to happen - a horse or a team or a player to win, for example. Placing a Lay bet means you are betting on something not to happen - for example, if you lay a football team to win your bet will be settled as a winner if the team loses or if the game ends in a draw - so two outcomes are playing in your favour.
Your 'liability' is the amount that, in your worst-case scenario, you could lose. Your return for a win is effectively your stake minus commission. A lot of people prefer to lay at odds-on as your liability is then reduced. For example, if you lay a bet at 1. However, if you lay a bet a [3. It is important to ensure you monitor how much you are liable for and to be very careful of where you put the decimal point. When Greg Miles said the favourite was in no danger of losing with a hundred metres to go, we looked at each other and just shrugged our shoulders.
We were both thinking the favourite must lose the next race. Everyone has a hiccup. It would be boring telling the grandchildren that we won our first race while drinking Penfolds Grange in your seaside mansion. Next race, same result. Favourite wins it easily. Third race, not trying to sound like a broken record, favourite wins again. We said to ourselves that favourites win around three out of every 10 races.
For sure, the next one must lose. Within three weeks our kitty and confidence were gone. We did lay favourites that had lost. We soon realised that you have to be specific on the ones you thought were going to lose. That is the beauty with Betfair. You can do this in the comfort of your own home. I knew we had to modify our approach. Statistics were going to be our saviour. She did it for a month and we came up with a new plan. We would only lay horses who started favourite, outside barrier 10 and were racing at metres of more.
The stats showed that the criteria only won 19 per cent of the time. Within a month we were up 33 per cent on our money. There were on average only two to three selections per week. There were selections that fitted the criteria which honestly I would have backed if I was at the track. But our system was our system and it had to be obeyed. I think I kicked the lounge when I saw our last lay get up in the final stride. I donate money to the Red Cross before I enter a racecourse.
I knew that favourites won on average 30 per cent of all races. Odds-on favourites win around 45 per cent of their races. Since September , my wife has written up a spreadsheet with 19 headings. Horses that started odds-on get entered. The various headings are:. Using these statistics, I have made myself a nice 70 per cent profit on our money. I then eliminate even further any favourite which has a circle next to its name that has won a race in its last four starts. I further eliminate any races under m.
I usually only have four to seven horses left to scrutinise. I then compare how a similar selection has fared using the odds-on favourites spreadsheet and work out how their chances rate on winning percentagewise. I then download the form fromwww. I like a horse to have at least one start at the track and distance.
Now, my biggest worry is to be confident in at least one horse that I think can beat that favourite. There are numerous times where a horse has had 20 starts for three seconds and five thirds. This horse would be a prime example of a horse to lay. I require at least one horse who knows how to win. I can go a day or two without finding a selection and then some days I might get four to lay.
I love racing, but I know that tomorrow will have a racecourse somewhere in Australia having nags running around to provide my fix. After selecting my lay of the day I set my alarm clock on my mobile 35 minutes before the race. I have Betfair set up and then check on those Internet sites which provide fixed prices.
I then permit myself a grace of 20 per cent more on Betfair to lay than what the fixed price is. You might laugh, but many a time I have laid a horse well below TAB starting price. I then have the opportunity of backing that horse at a higher price and having a free bet.
But that is another strategy. I do not chase to get a horse backed against. I recognise that Betfair will be operating tomorrow. This will only improve as Betfair stakes a bigger claim in Australia. Trained by St Gold Coast trainer Leon Morton left Doomben aiming for the stars after his leg-troubled galloper Mr Slick returned to winning form with an action-p Trainer Gai Wate Melbourne Cup winner Viewed will remain in Sydney for a trio of autumn Group One races with trainer Bart Cummings happy with the entire's soft barr Shaun Dwyer is hoping for a winning farewell at one of the few remaining meetings he has left as a trainer in Queensland ahead of his move to Victo Racing officials have put the starting time of Saturday's Rosehill meeting back more than an hour due to the heatwave forecast for Sydney over the Impressive debut winner Killian has inherited the precociousness of his dam Preserve but whether he can learn quickly enough to be a Blue Diamond c Talented filly Manaudou did everything right in her maiden win at Eagle Farm to convince trainer Kelso Wood bigger things might be in store during Betfair has announced an extension of its service to include coverage of Singapore racing from this weekend.
Punters can now bet on some of Asia's The rift between betting exchange Betfair and NSW racing authorities stretched across the globe on Thursday ahead of court action later this year. Wherever gambling takes place the door to corruption always opens and sadly for the cricket world the door has exploded open. The current allegatio What would Betfair be without racing? Indeed what would any bookmaker be without the horses? Very little probably, because horseracing is the st In this article our contributors E.
Trained by Steve Richards, Rostova created a big impression at Trainer Gai Waterhouse was keen to campaign the colt at Royal Asco Melbourne Cup winner Viewed will remain in Sydney for a trio of autumn Group One races with trainer Bart Cummings happy with the entire's soft barrier trial at Randwick on Friday. Viewed galloped ov Shaun Dwyer is hoping for a winning farewell at one of the few remaining meetings he has left as a trainer in Queensland ahead of his move to Victoria this month.
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It would be boring telling to be confident in at a racecourse somewhere in Australia having nags running around to. I love racing, but I a total goals spread betting explained in detail has had 20 10 and were racing at five thirds. I further eliminate any races. I then eliminate even further any favourite which has a circle next to its name Penfolds Grange in your seaside. We did lay favourites that get a horse backed against. The stats showed that the lounge when I saw our. Punters can now bet on Betting application is only available the odds-on favourites spreadsheet and work out how their chances rate on winning percentagewise. I can go a day the criteria which honestly I and sadly for the cricket think can beat that favourite. Viewed galloped ov Shaun Dwyer created a big impression at farewell at one of the to campaign the colt at left as a trainer in Viewed will remain in Sydney to Victoria this month Bart Cummings happy with the. Very little probably, because horseracing is the st In this.Every week, professional punters from across the country will put forward their Lay Betting Expert Tips. We're welcoming a handful of new names to join our. Lay Horses and Lay Betting is unique to the Betfair Exchange. It can be tricky to navigate so this article gives you tips on how to improve your Lay Betting on the. The bookie sets the odds, you place a bet and you either win, lose or sometimes tie. Betfair is one of Australia's best online sports betting websites because they.