If you have BACKED a horse to WIN you have done nothing more than use a Betting Exchange as you would a traditional Bookmaker, although it will probably be at better odds.
If you have LAYED a horse to LOSE then you have become a Bookmaker.
This manual aims to bring BACKING & LAYING together, to generate “No Lose” and "Guaranteed Profit” situations. This may be done in the following ways:
· Buy Odds as Low as possible and then Sell those Odds at a Higher Value · Sell Odds at a High Value and then Buy those Odds at a Lower Value (this is equivalent to the futures market where a Futures Trader will sell something at a certain price, hoping that when he comes to buy, the price is below his selling price).
Buying Odds is the same as LAYING. Selling Odds is the same as BACKING.How is this done?
Over the next few chapters I will go through a number of Trading scenarios where you will learn how to:
1. BACK first, then LAY for Guaranteed Profit Target
2. BACK first, then LAY to produce a NoLose situation if horse WINS, and a Profit Target if horse LOSES
3. BACK first, then LAY to produce a NoLose situation if horse LOSES, and a Profit Target if horse WINS
4. LAY first, then BACK for Guaranteed Profit Target
5. LAY first, then BACK to produce a NoLose situation if horse WINS, and a Profit Target if horse LOSES
6. LAY first, then BACK to produce a NoLose situation if horse LOSES, and a Profit Target if horse WINS
The above scenarios will show you how to place your original BACK or LAY bet, and how to calculate the Odds and Stake required for an opposing BACK or LAY bet, to achieve a set Profit Target or a NoLose situation.
An alternative to the above is to determine what profits could be made at any moment in time after placing your original BACK or LAY bet. You may not wish to set a Profit Target. For example, you may place a BACK BET with the anticipation that LAY ODDS will decrease to a
Please note that throughout this manual any commission deducted by Betting Exchanges is ignored.suitable level below that at which you accepted the BACK ODDS. You intend to monitor the LAY ODDS because you are not sure how they are going to behave, and at any moment in time you may wish to calculate what Guaranteed Profit, if any, is achievable using the currently displayed LAY ODDS.
Two additional scenarios are therefore:7. BACK first, then determine what Guaranteed Profit, if any, is achievable using the currently displayed LAY ODDS
8. LAY first, then determine what Guaranteed Profit, if any, is achievable using the currently displayed BACK ODDS