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 the race.
I can see that there are others who are also looking for better odds—3.85, 3.75 and 3.7 with varying amounts.
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
£165As soon as I’ve SUBMITTED and
CONFIRMED my request~ provided noone
else is asking for odds of 3.85 at the same time
and noone takes up my request immediately,
the amount requested will change from £145
to £165. The £20 I am asking for has been
added and is now waiting to be matched.
Payout Liability will change from £60 to £57 to
cater for de
creased odds.
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 profit.
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.