Hi guys and girls, first post here but I've been lurking for a couple of months, thanks for all the information and the odd argument or two lol. It gets a bit heated here too I see!

I'm a complete newbie and haven't had a serious punt since my old man used to take my pocket money off me on a Saturday afternoon 40 years ago but thought I'd make a bit of a hobby out of it as I've always loved the horses.

I started a couple of accounts about 3 months ago, one place, one win and so far it hasn't been too bad but I'd say it's more luck than judgement as they are both well up (we're talking $5 bets guys lol).

I've taken a lot of advice from around here as far as staking is concerned and don't chase losses and stick to my percentages but I'd like to know what is the catch with lay betting?

I've only just got my head around lay betting as it's a totally new concept to me and I realise if you don't stay disciplined you could really do your butt and the whole account but surely it aint that hard to pick a loser AND get your bet matched if you're not too greedy. Am I way off course or missing something?

Yes.

Welcome aboard by the way

__________________
Never give up on a dream just because of the time it will take to accomplish it. The time will pass anyway.”

― Earl Nightingale

Hi macs,

Its easy to get matched. You put the bet on at betfair SP.

Laying is tricky. You've got to have an idea about what sort of price you consider a fair price about your selection. And it must be realistic. And only lay when it is below that price.

I dont always price the entire field, but if I think a horse is a lay opportunity, I do try to price that horse and use that as my bet / don't bet becnhmark. Hope that makes sense.

LoL, maybe it's total beginners luck then because I read form and understand it on the gallops but know absolutely nothing about the trots and just turned $15 in to $40 with lay bets in 20 minutes LMAO!

Ohhh

Welcome macs. Everybody thinks that until they get their pants pulled down.

Expand on what you're doing a little and I'm sure their will be some experienced layers to assist.

__________________
Pixie

"It's worth remembering that profit isn't profit until it's spent off the racecourse." -- Crash

Oh Angry I can see how you can get your pants pulled down and big time if your not careful. Expand on what I'm doing? I think the luck comes in because I don't really have a clue at this stage what I'm doing!

Thanks for the welcome Raven, Ocho. I'll try and find out what I'm missing then Ocho.

macs, well winning at the punt is mainly luck despite alot of what you read in these pages. You do need a plan and more importantly you need to know what to do when things start moving against you.

The trick with laying is *NOT* to go too far into the backers zone (roughly anything over about 11.00), and not to be afraid to lay multiple selections in the one race. The money with laying is in the turnover.

__________________
Pixie

"It's worth remembering that profit isn't profit until it's spent off the racecourse." -- Crash

As long as you realise that and are only using a small percentage of your bank to lay with.

Don't be getting all macho and think it's easy to lay because your pants WILL be pulled down. Maybe not today. Maybe not tomorrow. But someday, macs, someday. I just hope you'll be wearing your Rio's.

__________________
Never give up on a dream just because of the time it will take to accomplish it. The time will pass anyway.”

― Earl Nightingale

Thanks Angry. I've been watching a heap of races tonight over a wine or two and can see how it can get a bit scary on the lay side. I can also see how money/POT balance management can fly out the window real easy if you get careless.

I've subscribed to a popular software/form program for the last couple of months and have seen 15/1 to 40/1 winners come in several times a week so the risks are most certainly there. Thanks for the heads up on the 11/1 info.