Bookmakers have been laying bets on horses to lose ever since horse racing began. As punters having a bet on a horse, we are actually involved with laying horses every time we have a bet. We are simply on the other end of the transaction. To back a horse, there will always be somebody who must to lay the bet. Yet so many people think they are unfamiliar with laying horses, so they shy away from it entirely.
This article will not show you how to make a profit by laying horses. It will not even explain exactly how you lay a bet on a horse to lose. My intention when writing this article is merely to demonstrate that laying bets on a betting exchange is not some kind of black art and there is nothing smoke and mirrors about it.
Traditionally it has always been the bookmaker who has taken on the role of laying bets. This allocation of responsibilities is something we are all used to, and comfortable with. But lets examine the mechanics of placing a bet:
In this example, lets assume we are going to back a horse called General Account at a price of 3/1 and for a stake of 10
We approach a bookmaker and this is what we are offering: we are prepared to risk...
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