Since 1990 each time a computer whiz called Andrew «Bert» Black developed the technology that allows betting exchanges to be effective the horse racing fans options have widened. Before the punter was limited on backing a horse either to win or be second or third. The new exchanges changed things considerably.

Now a punter can select whether or not to back a horse to win or lay it to lose. Many punters now are experts in looking for sboarena losers instead of winners. In the face it can be must be considerably easier. For instance in a very 14 runner race there can only be one winner but there'll be 13 losers. It sounds a little bit just like a «no brainer,» but it's less than that easy.

The drawback is one area called liability. When you place a bet with all the bookmaker and give him your stake money he agrees to offer normally somewhat more in case your horse wins. Well when you lay a horse you're serving as the bookmaker for one more punter, the individual that thinks the horse you happen to be laying will win.

If it loses that is fine, you're able to keep his stake money but whether it wins then you definitely pay him towards the agreed odds and that I your liability. So if you have consented to lay the horse at 7.0 for A�10 then your liability will be A�60.

Betfair does not give credit so simply uses take part you will need to deposit some dough to your account. The minimum stake allowed is A�2 so if you're pondering laying horses you will need a starting bank for at least A�100 and preferably A�200.

There is little doubt that this betting exchanges produce an exciting chance of punters to create a profit from their wagers. Whether you become a backer of horses or somebody that lays a horse to get rid of you need to apply certain rules if you're to reach your goals.

One in the big secrets to Betfair success, besides picking the right horses is finding out how to control and build your bank. Never over extend your bank, never chase loses, never gamble with money which you can't afford to shed.