Since 1990 each time a computer whiz called Andrew «Bert» Black developed the technology which allows betting exchanges to be effective the horse racing fans options have widened. Before the punter was limited on backing a horse either to win or perhaps second or third. The new exchanges improved the situation dramatically.
Now a punter can make whether or not to back a horse to win or lay it to get rid of. Many punters now are experts in searching for losers rather than winners. In the face it’s should be considerably easier. For instance in the 14 runner race there could only be one winner but you will have 13 losers. It sounds somewhat as being a «no brainer,» but it is nearly that easy.
The drawback is something called liability. When you place a bet using the bookmaker and present him your stake money he agrees to offer normally somewhat more should your horse wins. Well if you lay a horse you are acting as the bookmaker for one more punter, the individual that thinks the horse you happen to be laying will win.
If it loses that is fine, you can keep his stake money but whether it wins you then pay him on the agreed odds and that I your liability. So if you have agreed to lay the horse at 7.0 for A�10 after that your liability is going to be A�60.
Betfair doesn’t give credit so simply uses take part you must deposit some cash into the account. The minimum stake allowed is A�2 so if you are thinking about laying horses you need a starting bank for at least A�100 and preferably A�200.
There is little doubt how the betting exchanges present an exciting potential for punters to generate a profit from their wagers. Whether you in turn become a backer of horses or somebody who lays a horse to lose you need to apply certain rules if you are to achieve success.
One from the big techniques to Betfair success, apart from choosing the right horses is learning to control and build your bank. Never over extend your bank, never chase loses, sboarena never gamble with money that you cannot afford to get rid of.