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Online Betting accounts with leading Bookmakers and Betting Exchanges are becoming increasingly more popular. The high security measures that both Bookmakers and Betting Exchanges are using to ensure customer satisfaction, privacy and protection appear to be satisfying the online betting consumer. Why Should I Open An Online Betting Account? There are many reasons that can be given regarding opening an Internet Betting Account with Betfair. Betfair Betting Exchanges not only provide exclusive special offer bonuses but also provide Free Bets for New Online Betting Accounts. Opening an Internet Betting Account also provides armchair customers the chance to bet from their home and avoid all those Betting shop queues, with the added bonus of a New Account Free Bet. |
Betfair 'Refer and Earn' Account STEP 1 Click on the Betfair advert below, this advert contains a special Refer and Earn account code that will be automatically entered into the secure registration form for you. STEP 2 Complete the secure Betfair registration form and activate your account by registering a credit/debit card on your account and deposit £25 .
STEP 3 Place your £25 that you have just deposited on any event that Betfair cover and once your bet has been settled you will receive your £25 FREE BET |
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Lay betting is simply "placing bets on something to lose". This means that if you "Lay" a horse, you want them to lose. And if they do lose, you win money. In this article we'll explain what lay bets are and how you can profit from them.
What is a Lay bet?
If you are not familiar with lay bets already, this section will explain what a lay bet is and how you can profit from them. A lay bet can be placed on Betting Exchanges such as Betfair. It is where you get the chance to play the bookmaker and accept bets for events to NOT occur i.e. Rangers winning against Celtic.
On betfair, after you click onto an event, you will be availble to see lay bets and back bets available. The lay bets that are available are expressed in the pink column as shown below:
The lay odds that are available here are 1.23 and 5.5. If you placed a lay bet on L. Davenport, this means that you bet on her to lose (or to not win).
How Much Do I Win?
Lay bets winnings are calculated a differently from back bets. The amount you win on a lay bet equal to the amount you stake. For example, if you Lay Davenport for £5, and she lost, you'd win £5 because she did NOT win.
Another difference with lay bets is the risk liability. This is the amount that betting exchanges "freeze" from your account when you place your lay bet. This is to cover the potential loss from your lay bet which brings me to my next point:
How Much Can I Lose?
This is the major difference with lay bets that newcomers seem to have difficulty in understanding. With lay bets, you can potentially lose more than you stake. To calculate your risk liability (the amount you stand to lose if your bet loses) you can use the simple forumula provided below:
So if you Lay Davenport to lose at 1.23 for £5 - You'd win £5 if she lost and lose £1.15 if she won.
If you Layed Schiavone to lose at 5.5 for £5 -
You'd win £5 if she lost and lose £22.50 if she
won.
The reasoning behind this is that lower odds have a lower probablily to lose so you'd win more if they actually lost. Higher odds have a higher probability of losing which is why you risk more.
How Can I Make Money From This?
A lot of beginners believe that it is easy to make money from lay betting. I hear them saying "You bet on something to lose, that's easy". But the most important thing they forgot is the the odds that they are betting at. Events which have a higher probability of losing also have higher lay odds. They may win a few of them but when they lose once, that could wipe out all their profits and, even worse, result in a large loss.
To win in the long term, you'll need to look at the "value" of a bet. When laying, you want to lay at the lowest odds possible to minimise losses. This way you can afford to be wrong a few times without losing all of your money. For example, if a horse was available to lay at 1.8 and you believed that it had no chance of winning, you'd lay it at 1.8 and not 2.5.
Trading on Betfair - No loss
The main attraction to Betfair Trading is the ability to guarantee a profit on an event regardless of the outcome. This means that no matter who wins the event, you can generate a profit.
To do this, you will either have to back odds then lay them for lower or lay and then back at a higher price to guarantee a profit. The main principal here is to "Back High and Lay Low". It doesn't matter which one you do first.
There are two ways to generate a profit. One method is to Guarantee A Free Bet On Betfair and the other is to Guarantee A Profit (also know as equalising a profit).
Betfair Trading can be very rewarding but it is not easy. There are a variety of different markets to trade but perhaps the most popular is Horse Racing as there are plenty of races every day. I trade Horse Racing markets frequently and it requires patience, discipline and a good trading strategy. This type of Betfair Trading is very fast-paced and very enjoyable, if you can do it right.
Some of the most successful Betfair Trading experts claim to earn around £1000 per week from trading. I've witnessed first hand proof of this but it requires stakes of up to £1000 for each trade. This means that if you wanted to make £1000 every week, you'd need to have around £1000 to begin with.
Your success in Betfair Trading will depend on your trading strategy. I stated earlier that I'd give you three methods in which you can use to generate an income and I intend to back up that statement.
Here are two basic Betfair Trading strategies that I have learned while trading on Betfair:
Guarantee A Free Bet on Betfair
First of all, i hope you are familiar with how the betfair
trading basics. I'm going to take you through the steps that I use on the
Betfair Financial Markets.
Go to the Betfair site and bring up the
financial bets from the menu on the left of their website. The Intraday bets are the ones you want (can be
FTSE or DOW index). It should bring up a list of hours in the format 1pm - 2pm,
etc. Click on the hour that is in-play right now. The odds should be displayed
as below:

We have our Betfair screen ready, but we are not quite ready to place our bets just yet. Before we place our bet, we need to analyse the index using charts so that we can be sure that we'll be on the correct side of the bet.
I recommend using yahoo charts which are free ( http://finance.yahoo.com ). Once you have the Yahoo charts window up, you need to find the graph of the index you are trading. You can type in the index symbol into the search bar at the top of the page (^FTSE for FTSE index and ^DJI for DOW index). I will be trading the FTSE so i'll be using the FTSE chart. After you find the chart you are trading, click on the technical analysis section to give you a more detailed chart, your Yahoo page should look something like this:

Information courtesy of www.betexchangetips.com
Guaranteeing A Profit is a continuation of Guarantee A Free Bet. However, instead of a free bet on the horse we traded on, we want a profit on ALL of the outcomes in that particular event. This means that we effectively achieve a profit no matter the outcome of the event.
In the Guarantee A Free Bet Section, we managed to achieve a quick free bet on a horse called Temperance. We're now going to place another lay bet on this horse to equalise the profit across the all horses.
To calculate the lay stake needed, we use the following calculation:
Current Profit Showing On Selection / Current Lay Odds
In thid case, we divided 52.25 by the current lay odds which were 3.0 to give a lay of £17.41 which resulted in a £17.41 profit across all outcomes. Please remember to back and lay the same selection for this to work.
To save time, you can use this calculator for equalising profits.
Learn how to apply these strategies on Betfair Markets:
You've probably heard it many times before but I'm going to say it again anyway. Successfully trading on Betfair is not easy. I believe that trading successfully and in the long term is 60% psychological, 30% research and 10% skill.
The way you think can and WILL affect your success. If you think you can't trade successfully then trade successfully you shall not. Here are 3 main factors of trading psychology that you need to watch out for:
Failure
If you've tried a particular system or maybe you're having a bad day and lost money, you and many other people will feel a sense of failure. This is perfectly normal but we should not let this get us down. The reason for this is simple, failure is to be expected and should make us better if we learn from our mistakes. The great thing about Betfair is that we can try 100 different strategies and we only need 1 to work consistenly and we will be making money for years to come.
My general experience is that people give up too early and the ones who stick at it will find an edge eventually and will win in the long run - deservedly so. Failure does not have to costly either, you can paper trade and track your profit and loss on Excel spreadsheets (or a notepad).
If you've found something that works but you're having the odd losing day, I recommend taking a break. Never bet with emotions (more on this in the discipline section).
Greed
Greed can make you lose your bank. It is important to always test systems thoroughly before upping your stakes. Do not bet more than you can afford to lose and never bet your whole starting bank. i.e. If you set aside £1000 for trading, your liability should never be £1000. Idealy, it should be 5% of your bank to insulate down turns.
Discipline
Discipline is trading or betting based on facts and pre-written instructions. Always stick to your method and never deviate. Many people tend to change their method "on the fly" if they having a winning or losing streak. Doing this is not discipline and eventually you will lose money because you didn't stick to your plan. It is important to seperate emotions and trading.
Courtesy of www.betexchangetips.com
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