Lay in Bits




Ever done this ? :-

  • We place a bet followed by a lay to equalize our trade for guaranteed win or lose winnings.
  • Our lay gets matched but the lay odds go even lower and we feel that we’ve missed out on a bit of extra profit.
    We feel that we could have layed at the lower odds.
    That’s happened to us all many times.

A solution might be to offer a series of smaller lays over a range of lay odds, rather than one single lay at or near the current odds.
If all the lays get matched, we have layed at lower odds than the current odds overall for a slightly bigger profit.
A problem arises if our series of lays are only partially matched.
If that happens, we need to lay the correct amount to equalize what is left outstanding on the lay side of our trade.

  • If we are using trading software, all we need to do is hit the “Hedge” button and the software does the job for us.
  • However, if like me, you use the normal Betfair screens, laying the correct amount at the current lay odds may
    be very difficult to work out.
  • Also, when setting up our series of small lays, it would be best to balance our lay stakes by laying slightly different amounts dependant upon the size of the lay odds.
    For example, slightly bigger lays as the odds decrease would be better than staking equal amounts regardless of the odds, or simply guessing how much to lay at different odds.

The spreadsheet package described here overcomes the equalizing problem if our lays only get partially matched.
Additional spreadsheets are provided to show the stakes required to bet and then lay over a range of odds and balance the lay stakes according to the size of the lay odds.
Commission is built into the lay side of the staking where required.

If some of our lays are only partially matched, or some are not matched at all, the “Lay In Bits” spreadsheet then enables us to complete our trade by laying the required amount to equalize our whole trade for an equal win or lose profit or loss.