Anybody who has ever bet on anything knows that we bet to win. Right?
Well maybe not. Think about it. You bet to win, but where you place the bet, are betting that you lose. Please let me introduce to you the concept of a Betting Exchange. With the rapid growth in technology, increasing internet speeds, and so on, there are several betting exchanges that have developed. With the EP system, we use the worlds large betting exchange, being The BetFair Exchange.
When using a betting exchange, we can………
- Back an event, where you expect your selection will win, or
- Lay an event, where you expect your selection will not win. What? Do you mean lose. Well – not quite lose. Just not win. Think about it.
If you Back a football team to win. You want your team to win.
BUT
If you Lay a football team, what you wat to happen is for the team to either not win, or draw. So there are three possible out comes.
With horse racing, there is only one winner. So, in a field of 12 horses you ould easily Back one horse to win, or Lay 11 horses to not win. Strange – I agree, but Laying is a common form of betting. There are lots and lots of videos on You Tube with regards to Lay Betting.