When LAYING to LOSE you are effectively taking on the role of a Bookmaker without the
overheads. You have no staff to pay, no High Street building to run. All you need is a PC with,
preferably, a highspeed connection, and of course an account with a Betting Exchange.
Unlike the High Street Bookmaker, who has to offer odds for every race, you can be selective,
cherry picking your favoured events.
In the previous chapter I selected Dami and BACKED to WIN.
In this chapter I don’t think Dami is going to win so I’m going to LAY to LOSE. It is advisable,
if you don’t think a horse is going to win, to select horses with as low LAY ODDS as possible.
Don’t forget you are taking on the role of a Bookmaker and if the horse wins you will have to
pay out at the odds taken.
As stated in the chapter “BACK to WIN”, odds can change very quickly and can be missed.
You may not like the odds being offered. The beauty about a Betting Exchange is that you don’
have to take what is on offer—you can ask for your own odds, with the hope of being matched.
To the left of the LAY ODDS you will see three columns under the BACK area. These are odd
where a person is asking for his own odds, as a Bookmaker, and is waiting to be matched. As
Bookmaker you are looking to keep odds as short as possible to lessen the amount you have to
pay out if a backed horse wins. The role has been changed and someone is placing a bet with
Let me explain about asking for your own LAY odds:
I have decided that I want better odds than 4.00 and by this I mean I want LOWER odds; after
all, I am the Bookmaker on this occasion, and I don’t want to pay out too much if the horse wins
I can see that there are others who are also looking for better odds—3.85, 3.75 and 3.7 with
I want my odds to be matched so I am going to ask for odds of 3.85 and an amount of £20.
To put my request on the board I’m going to overwrite the 4.0 in the Place Bets area with 3.85
All I am waiting for now is for someone to come into my Bookmaker’s shop and place a bet for
the odds and amount I have put up on the board. If a bet is placed I hope the horse will not win
because I want to keep the punters stake money. The punters stake money is my potential
DON’T be confused by a LAY request appearing under the BACK area. I want to LAY a horse
to LOSE but the Odds in the LAY area are not to my liking, so I am asking for someone to
accept my bet at Odds I want. Think about it for a second; I want the horse to LOSE but anyone
looking for a horse to WIN will be looking under the BACK area for horses at acceptable odds.