Learn How You Can Profit From Laying These Losing Favourites :
1) Use a Staking Plan and stick to it
It doesn't matter what staking plan you eventually use just make sure that you stick to it and you never stray! A good staking plan instills discipline and will help you maximise profits while hopefully minimising any losing streaks.
2) One day does not matter.
This is important as it is the biggest thing that makes gamblers crumble. If you take a heavy loss on one day it does not matter, what you are looking for in this is to have long-run profits meaning you can take a look at your past year's betting activity and you will be in profit, one day is not going to affect this. So do not try and recoup losses from one bad day and do not go crazy betting after good days.
3) Use number of bets instead of total bankroll.
i.e. if you have a bankroll of £1000 and you are laying for a total loss of £50 then each £50 is 1 bet, so if you lose £150 in one day you will say to yourself I have lost 3 bets. You could go the opposite route and say that you are taking the backers stake of £10, therefore if you lose £60 you will have lost 6 bets, either way is fine as long as you stick to it. Using this method will help you distance yourself from the psychological pangs that come from losing and the urge to increases wagers when winning, it will also help to scale your bets when you have successfully reached a new bankroll level.
4) Do not lay 15/1+ horses.
There is simply no value in laying these kinds of horses, the strike rate required to turn a profit on 15/1 shots is around 93% on 20/1 shots it is around 95%. This means to turn a profit laying these outsiders they will need to lose more than 95% of the time, otherwise when they win you will be paying out 20x the stake which could hit your bankroll very hard and not matter how mentally strong you are a loss of those proportions is sure to shake you up.
5) Lay 'Hype' horses.
A hype horse is a horse that has dramatically fallen in price through no actual racing reason, just public opinion on the betting exchanges. This type of thing happens fairly regularly, a horse will be 6/1 when a couple of big boys decide to back it, the public will see this and over-react with everyone trying to get on as well causing the horse to drop right down to 2/1 even though there is no reason for it to be this low! When doing this make sure that the odds have dropped due to hype and not due to the removal of a rival, change in conditions or anything that would actually give this horse a better chance.
6) Do not trade out early.
When you are placing bets with a betting exchange or Bet 365 there is always the urge to 'green out' and take a guaranteed profit during running. However when you do this you are drastically cutting into your profits by taking much less of a profit than initially expected. The only time this is recommended is when you know for a fact your bet is going to lose and you can cut some of your losses; but as there is no real way of knowing for a fact this will happen it is advisable not to trade out. If you want to trade in-running use a trading system not a laying system!
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