Betting exchanges are a recent introduction into the betting world that

have taken the UK gambling community by storm. In the past, bets had

to be placed with bookies, where the punter would back a team or entity

and the bookie would lay the bet. In this system, the bookie would lay

the bet backed by the punter and offer the odds. Betting exchanges cut

out the bookie and allow punters to both back and lay bets and offer

odds. In this sense, they work not unlike stock exchanges. This article

will primarily discuss bet laying on races and how to effective use a

horse racing system to find your horses and lay the right odds to

maximize the opportunity for a payout.

It is probably worthwhile at this point to discuss what is meant by

"laying a bet." When you lay a bet, you are betting that a particular

horse will lose. This is the position that the bookie typically takes.

Betting exchanges seek to hook up those who back and lay a horse and

allow them the opportunity to agree on odds. At this point, simple math

comes into the equation, and it is time to find a strategy. Any horse

racing system that focuses on lay betters needs to keep several

considerations in mind.

The first thing any horse racing system will tell you is that you

should never stake more than you can afford to lose. Betting is at its core

a game of chance and even the most careful horse racing system will

experience bad luck occasionally.

Another thing to keep in mind when building your horse racing system is

to remember that you don't have to bet on every single race. Do your

homework, study the horses, study the tracks, and study the conditions

forecasted for race day and when you find that backers are willing to

take odds that you feel are in your favor, then it is time to lay your

bets. If you cannot get odds that you feel are favorable, it is best to

sit that particular race out.

Another thing to remember when consulting or forming your own horse

racing system is that you should not throw good money after bad. After

experiencing a run of bad luck, a punter may feel inclined to place

larger and larger bets in an effort to recover monies lost. While this

strategy may get you out of trouble on the rare occasion, it is almost

always a sure loser. Remember, in the game of gambling, losing money is a

part of life and a run of bad luck should not cause one to change their

strategy. Any horse racing system that changes based on the results of

a few previous races is a weak one at its foundation and it should be

discarded for a more consistent horse racing system.

It is possible to make money laying bets, but it is always necessary to

do your homework and be prepared for losses. Gambling in any form is

not for the faint hearted. Now, go out there, pick those sure losers,

offer odds and have fun! In the end, you may be able to make a little

bit of money as well.