You go to the horse racing track anxious to bet on your favorite horse- the one that you think has the highest chances of winning. Your hard-earned money will be put at risk, but you are confident that you know what it takes to tell a winner. Except that you don’t always know. Betting is still a game of chance for most, so to up your chances, you want to change the way you see the game.
Laying the field is a good tactic to take when you want to increase your chances of taking something home. For the un-familiar, this means betting against all the players in the game. I know it sounds ridiculous but once you look at the big picture, you would understand why some people take this route. Obviously, we can guarantee that one horse will win so if you place a bet on everyone, you know that you will win for sure.
This is commonly used when two people are disagreeing on the outcome of the race. In this case, they set a price on their preferred horse which then becomes a matched bet. Some people think that this is easier than guessing who will complete the race to the finish line, that’s why it has become so popular.
How to do it? Simple. You lay the field and bet in play (meaning you place a bet on the horse that you think will win). First is to set a price below 2.00 for two horses, and then bet against all the horses at, say, 10.00. Let’s say the price we set for the two horses is 1.75. Tag your best as “keep” to ensure you remain in the game throughout the entire race. When the game is finished, you will discover that you still earned a profit, regardless of who wins.
The only time that you are risking your money is when the very 1st leading horse won the race seamlessly. At least you know exactly that only one risk of a loss, and the maximum amount of money you could lose. This rarely happens, but it does happen. Most of the time though, you take home some profit through this betting style.
Essentially you are making money out of those who lose which is not such a bad idea. If you’ve been around in the game for a while now, you would know which horse usually loses so your chances of winning from a lay bet are higher than backing a winning horse. Compared to betting on a favorite winner, it is obviously much easier to guess who will win the race as it has more options than having to pick only one that will win. This alone increases your chances of profit.
There are two important things to keep in mind when taking this path. One is knowing which race works well with the lay bet, and two is identifying the price that you want to set for the racers.