Horse Racing System
Betting Exchange Place Markets - Wise Up And Win
How To Use The Betting Exchange
Place Markets To Your Advantage
In article one, I introduced you to the
Betting Exchange concept and explained the basics of LAY Betting (Lay to
Lose). Now in this article, I'm going to introduce you to another unique
and powerful feature of the betting exchanges, the Place Markets.
What Are Betting Exchange Place
Place markets are as the name suggests,
markets which allow you to bet on a selection to be 'placed'. Eg. a
horse to finish 1st, 2nd or 3rd in a 8 runner or larger field.
Now, the first and most important thing to
highlight here is that these place markets are completely different to
the well known Each Way (EW) betting markets offered by traditional
bookmakers. The Each Way bet is in fact 2 bets of equal stakes. The 1st
stake is on the selection to win and the 2nd is on it to be placed. So a
£10 EW bet will cost you £20 in total.
A £10 place bet on a Betting Exchange is a
single bet and therefore will only cost you £10. If your selection
finishes in a place, you collect your winnings and smile.
Think about it for a minute. How many
times have you been certain that a horse will be placed, but you have
not been confident that it will win...
Traditional Each Way Betting
Take the following example. A horse named
'Im gonna be placed' that is available to back with traditional
bookmakers at 4/1 (5.0). Your very confident that it will finish in the
top 3 in a 10 runner field.
With a traditional bookmaker, your
1) Take a chance on it winning and place a
win single on it. E.g. £10 at 4/1
2) Place an EW bet on it. E.g. £10 EW at
4/1 (5.0). Total stakes £20. The bookies will pay you 1/5 odds on the
place element of this E/W bet based on their standard EW rules. On our
horse which is available to back at 5.0 this equates to 1.8
Now, the only time the above race will be
profitable for you is if the horse actually wins. In both cases you
would make a very nice profit if it did. For option 1 you would win £40
profit and for option 2, £48 profit.
BUT, if as you suspected the horse only
finishes placed in 2nd or 3rd, you actually lose money in both cases.
With option 1 you obviously lose all your stake money so are down £10.
With option 2, you win £8 on the Place side of the EW bet but still lose
£2 overall as the win part of the bet was a losing one.
Enter The Betting Exchange Place
Using the above example and depending upon
the prices of the other horses in the race, you would probably see the
Betting Exchanges offering odds of around 1.60 - 2.00 (evens) on this
horse being placed. You can therefore put your £10 PLACE bet on at say
1.8 and collect £8 profit (minus commission) as long as the horse
finishes 1st, 2nd or 3rd. Only if the horse finishes outside of the top
3 do you lose your £10 stake.
I'm sure this has got you thinking and you
can probably see the power in this straight away!
When combined with a good staking plan and
a sensible selection process, it can be common to have very long winning
streaks when backing horses to be placed on the betting exchanges. These
longer winning streaks more than make up for the relatively short prices
that are offered on selections to be placed.
Place Market Important Notes
A few important things to note about place
1) Unlike the betting exchange win
markets, Place markets DO NOT go "In-Running" when the race starts but
this is true of the traditional E/W bets offered by bookies as well.
2) If a race is planned as a 8 runner or
more event but a number of horses become non-runners leaving less than 8
runners, the betting exchanges still offer odds on 3 places. This is
different to bookmakers who in such cases adjust their odds on the place
payment from 1/5 to 1/4 of the win odds BUT they only pay out on 2
places. If a 5,6 or 7 runner field is shortened to less than 5 runners,
the betting exchanges will still offer place markets and payout if the
horse finishes 1st or 2nd.
3) You can make up the equivalent of an
E/W bet on the betting exchanges by placing a bet on the win market and
a separate bet on the place market. Depending upon the type of race and
the form of the market, you will often find that this offers more value
in terms of odds than an E/W bet with a bookmaker.
Backing Or Laying On The Place Markets
As explained in article 1, the ability to
Lay a selection is perhaps the most important feature of the betting
exchanges. You now have the ability to Lay selections to be placed. In
other words, if you have a valid reason to believe that a selection will
not even finish in a place, Lay it to Lose on a betting exchange. The
real beauty of laying on the place markets, is that the odds are always
much lower than the outright win odds so your lay liabilities are much
Trading On The Place Markets
As the place market prices are much lower
than the outright win market prices, they also offer a great place to
learn the skill of TRADING without much risk to your balance! Betting
Exchange trading is simply the process of betting on price movements for
guaranteed profits. E.g. Back a horse at 4.0 and then Lay it later at
3.0 for a no risk bet or guaranteed profit regardless of the outcome!
Betting exchange trading will be covered
in detail in a future betting article.
Place markets should be used as part of
your betting armory. They offer you the chance to make money frequently
with long winning streaks being very common. This helps to build your
confidence as well as your betting bank!
Bookie Each Way bets are not always poor
bets but in the vast majority of races, the odds are stacked firmly in
the favour of the bookmakers. They simply love punters taking EW bets on
these races as they know its their bread and butter. A small proportion
of races where the market is formed in a certain way do offer the punter
very good E/W value but that's for a different day...
Well that's it for part 2 of my betting
exchange articles. In part 3, I will be explaining the Betting Exchange
|Author: Martin Bailey
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