For those to whom laying is a new phenomenon:
Here's a link to explain how lay betting works on Betfair:
http://betting.betfair.com/education/the-site/what-is-lay-betting-2-300111.html (http://betting.betfair.com/education/the-site/what-is-lay-betting-2-300111.html)
It gives a useful overview of what it's all about.
Laying the favourite is quite popular (after some suitable filtering, of course) and Jon Burgess has written a very popular, and widely-acclaimed ebook about how to apply suitable filters:
http://www.false-favourites.co.uk/ (http://www.false-favourites.co.uk/)
Important Principle
The lower the price of the horse (or event) you lay, then the lower your liability if it wins.
Example:
Lay a horse for a fiver at 2.4 and it wins. The winner receives from Betfair your fiver PLUS his/her winnings which is deducted from your BF account.
Lay a horse for a fiver at 92.4... Well, you DON'T...EVER!! Imagine how much your account is debited if it wins. Too risky just to make a fiver from the other person who is the backer.
Alternative To Laying
For those blocked from Betfair or other betting exchanges then backing all runners except the favourite is an alternative method.
Dutching software makes the necessary calculations so that whichever horse succeeds the winnings recover the total stake AND delivers the profit you specify.
Of course, if the favourite wins you lose the lot!! So pick a false favourite carefully.
Search online for free and pay-for dutching software options.
But if anyone wants to write their own dutching software say so, and then I'll post the formulae in this thread, otherwise I won't clutter it with unwanted info.
Thanks for the informative post. It'a appreciated :nod:
Sorry to bump this up but I was looking for a video tutorial about them but unlucky so far. Can someone please post a link? (https://imagicon.info/cat/10-3/1.gif)
Quote from: peleus on October 19, 2014, 03:44:34 PM
Sorry to bump this up but I was looking for a video tutorial about them but...]
To clarify: what does the word 'them' specifically refer to?
Once I (or others) know that we might be able to help.