Jan 5

What is Lay Betting?

Lay betting is a method of betting on the outcome of a event that you expect to lose.

Let me give you a example. If you expect a horse to lose a race you can back it to lose which is called laying.

Where can you place a bet to lose?

You place a bet on a betting exchange.

The most popular exchange is called www.betfair.com and there is also www.wbx.com

How much risk is there?

Like any form of betting there is a risk but you can reduce the risk though managing your betting. This is the key.

What I mean by managing your betting is;

  • log all your betting activities

  • have a method of selection

  • have a method of staking

  • have a bank for betting

  • learn to control your emotions

Betting can be bad for your wealth and health if you don’t follow the above suggestions !

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Jan 6

I was first introduced to horse racing by my grand father,he use to be a bookies runner and told me endless story’s of his time as a bookies runner. I had to place his bets as he was to old to travel and at the time there was only bookmakers shops to place a legal bet, there was no television at the shops just a person that use to write the prices on a large board as the audio streams came through to the shop.

I was a fruit machine freak and regularly use to blow a weeks wages in a few hours until one day a work colleague asked why not try betting on horse racing.

My first bet was a 5p Flag a bet make from four selections. The first three horse won and thought to myself this game is easy. I was hooked and I spent many hours looking though form books.

Now this is were the problems lies every night I would study for the following day racing. The day of the racing I would go into the local bookies to place the bets in my lunch breaks but!

Because there was no racing during my lunch breaks I spent all my betting money on the FRUIT MACHINES this was my personal demon. What made it worst was finding out that the bets I had laid out the previous night won,I was not a happy chappie.

Thank Goodness for the Internet.

I no longer needed to go into the Bookies.

PLEASE READ THE NEXT POST it might help you

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