In any greyhound betting system, the most basic trades are known as back and lay. However, you need a good background of how the races work, the form of the greyhounds, and other important factors affecting the race. With this knowledge, you could predict whether the odds will move in your favour. Otherwise, there would be no point in trading.
Basics of a Greyhound Betting System
Here’s how backing and laying works. Let’s say you picked a greyhound named Lightning to win 1st place in a race. In this case, a “back” would be betting on Lightning winning 1st place, while a “lay” would be betting on the opposite – i.e. Lightning not getting 1st place. However, you cannot just back and lay on a whim; there has to be a spread (or variation) in the price for it to work.
You’ll also need to watch out for the odds and how they move through the course of a race. If lots of others fancy Lightning to win, the odds will shorten (go down); otherwise, the odds go long (move up). You need to be able to catch the odds that are profitable to you.
Look at the Odds
Let’s say that Lightning has odds of 3.8 in the race, and according to your dog racing system, the odds will go long as the race progresses. If you lay for, say, £100, and Lightning wins, you lose £280. Not good at all! So to lock in a profit, you’ll have to place a back bet later. However, you can only do that when the odds go long. So let’s say it does, and you were able to back at odds of 4.3. If Lightning wins, your £100 back bet gives you £330, while the lay bet pays out £280, making a profit of £50. Not bad.
But what if Lightning loses? The numbers then change. If you lay, and Lightning loses, you get £100. But if you did the same and backed later on, you lose £100, giving a net profit of zero. Not good.
Hedging for Guaranteed Profit
To lock in some additional profits, you’ll need to lay an additional smaller bet. You can do this at the same time as the back; however, the challenge here is calculating how much more you’ll stake to lock in the profit. To effectively do this, you need to analyse the numbers given on the betting exchange. You will also need sufficient knowledge of the races to predict how the odds will move so you can make a favourable decision.
Good luck in your sports trading and remember: ‘Stop Gambling and Start Trading! Click here if you want to learn more about a greyhound betting system that truly works.