07 Why lay? : HID Betfair Education

Bookmakers are layers

Tue, 29 Jan 2008 12:27:24 +0000

Bookmakers are layers as they accept (lay) punters bets. Common phrases associated with bookmakers are "there's only one winner!" and "you never see a poor bookmaker!" Have you ever looked at a bookmaker and thought that looked like an easy way to riches? Well, it's not quite that easy, but it certainly does have its advantages.

Laying - an example

Tue, 29 Jan 2008 12:24:31 +0000

When bookies do get it right though, the punter by backing a selection offers the bookmaker a great price on the alternative option(s). The final of the 2004 Hopman Cup was Karol Kucera v James Blake.

Laying Favourites

Tue, 29 Jan 2008 12:22:27 +0000

The beauty of laying favourites comes down to the lower level of risk involved.

False prices

Tue, 29 Jan 2008 12:21:02 +0000

There are many factors which force the price of a favourite down to well below its true price or implied probability. Media attention and popularity are the main ones here. Some players or teams are good enough to win anyway despite the weight of attention - e.g. Manchester United, the most popular football team in the world, are often shorter than they should be.

Favourites on Betfair

Tue, 29 Jan 2008 12:10:50 +0000

Betfair prices recorded on odds comparison sites for these matches are affected by live trading on several of these matches, and thus cannot be used.