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Essentially, this means two more options have now opened up for you. This means you now have an opportunity to come away with a profit regardless of the result — and where the technique of back-to-lay can come in. Firstly, you could lay off your potential losses by backing Cyrname not to win. In this instance, because there are only two horses, this would most likely require Altior to win although it also includes the possibility that neither horse completes the race and there is no winner.
You now have a green book. However, you also have the option not just to lay off your potential losses on Cyrname, but instead to choose to try to win money on Altior. In other words, not only can you lock in a profit if the odds move in your favour, you can also change your mind and go for a still-bigger win. We can illustrate when you might want to do this with our example.
The fundamentals of lay-to-back are pretty much exactly the same as back-to-lay, only the opposite way around. You could lay the horse pre-race — ensuring a comparatively long lay price — and if the prediction is correct and it settles at the rear, then back it in-running at what would likely be a longer price than its BSP was, to lock in profit either way. So, although which one you choose depends on what you think will happen during a race, and how the market will react, you need to be confident in your selections.
The principle is the same; how much you want to wager on either outcome is up to you. You can either play shrewd and hedge your bets completely for small profits all-round, or if you have a strong opinion on which outcome will prevail, alter your book so that you stand to win more if you get it right. The two-runner market is by far the simplest way of securing a green book, as bettors only have to worry about two outcomes.
In a nutshell, this is the reason why the Exchange gives you the best prices. The main difference with a multi-runner race is that given the increased number of outcomes, the more you must split your potential winnings between your book, in order to cover all eventualities. Again though — how heavily weighted your risk and reward is towards individual horses is your decision, so it might be that you accept a break-even on most of the runners, in order to maximise potential profit on the horse you think will actually win.
Or perhaps even on a favourite you think will lose. And products like Timeform Race Passes can help you find more opportunities to profit, in more ways. In the example we have used here we have marked Bronze Maquette as the margin maker. It will only reach these odds if the horse loses, or more importantly, is out of contention at some point.
This race is being run over 5f, the minimum race distance, so the winning distance between the horses will be slight and the market is telling us it will be a close race anyhow, because the front three are roughly equal favourites. In this particular race Bronze Maquette did actually win, but we also profited despite asking for a price that was much higher than the starting price.
We made our profit by betting the odds on the favourite would be much higher at some point during the race. Not only did this happen, it actually won! Download a free trial of Bet Angel today! For any queries relating to Betting.
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Winning on Betfair For Dummies is the definitive insider's guide, giving you a full picture of the way Betfair works, explaining the terms, lingo and jargon. Betfair brand offers a full mixture of products such as betting exchange and but due to higher complexity in laying and backing odds in the Exchange. All the odds cells are active (rather than just two middle columns on Betfair) giving you additional flexibility for your backing and laying. For betting.