Lay Genius

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The ultimate guide to making a tax-free living from laying

horses.

http://www.laygenius.com/

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Liability and Disclaimer

The author and publisher of the Lay Genius e-book cannot be held responsible forany losses that may occur during the utilization of this digital product. Externallinks are used for purpose of information only, and cannot guarantee accuracy

within their provided content towards the procedures of this system.

Any of the trademarks, or similar rights that are mentioned, used or cited in thethe Lay Genius e-Book are the property of their respective owners.

It is illegal to copy, photocopy or distribute this e-book in any form. If you didntobtain this e-book from http://www.laygenius.com/ contact me([email protected]) immediately.

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Contents

Introduction. Page 4

The Betting Exchanges.. Page 5

An Introduction To Betfair................. Page 7

Understanding Betfair Page 8

Overview Of The Odds.. Page 10

An Introduction To The System Page 12

Gathering The Resources. Page 13

Implementing The System............................... Page 17

Examples.................................. Page 20

Essential Websites.. Page 21

End Notes. Page 22

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Introduction

Welcome to The Lay Genius guide.

In this guide I will expose everything you need to know in orderto make a living from laying horses on Betfair. The methods arefairly straight forward, so it shouldnt take you long before youmaking good profits.

I use this system everyday. It helps me generate an average ofabout 500 pounds per week. You too could be making endless

profits from the comfort of your home, just by putting mysystem to use.

Best of all, you dont need to know a lot about horse racing, ortrading in general. Anyone can use this system, whether youhave been using the exchanges for 5 years or 5 minutes, even ifyou have never placed a bet in your life, it doesnt matter! Ihave you covered.

Lets get started

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The Betting Exchanges

Betfair is undoubtedly the largest off all betting exchanges.Unlike standard betting sites, no bookmaker is involved withBetfair. You simply place your bet, allowing another punter toaccept your bet and act as the bookmaker in the transaction.

This guide will focus mainly on Betfair. If you would prefer notto use Betfair, you may want to try a similar site. You may wantto try any of the following listed below: (I would highlyrecommend Betfair, as it is the largest exchange with a lot more

money and users floating around than other sites. After all, ouraim is to take other peoples money, so the more users thebetter.)

http://www.betdaq.comhttp://www.ibetx.comhttp://www.betonbet.comhttp://www.betsson.com

In order to use a betting exchange, you will have to sign up foran account, and then deposit money into your account. Whenyou place a bet the money is deducted from your account. Ifyou win the bet, your winnings are added to your account.

Here is an illustration of how the exchanges work:

Greg decides that a horse named Kingsbury has a very good

chance ofwinning a particular race. He logs on to the betting

exchange and requests to back the selection at odds of 4.0 for10. By backing, he is betting on the horse to win the race. Heis risking a little to win a lot.

If Kingsbury wins the race, Gregs payout will be 10 X 4.0 =40. He has contributed an initial stake of 10, therefore hisprofit is 30.

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Steve decides that Kingsbury has little chance of winning therace. He decides to lay the horse. By laying, he is betting onthe horse to lose the race. He logs onto the exchange and seesGregs bet waiting to be matched. Greg therefore accepts hisrequest.

Because Steve is betting that Kingsbury will not win, he mustbe able to cover the payout for Gregs bet, which is 30. Hedoes not need to cover the full 40, because 10 is Gregs ownstake. Steve is betting to win Gregs stake money which is 10.He is risking a lot to win a little.

Kingsbury ends up losing, therefore Steve wins Gregs stake of10.

Be aware that betting exchanges are completely anonymous,and no one knows who takes each others money.

Things are slightly more complicated than this, but this exampleshould give you a basic idea of how betting exchanges work. On

popular events you wont have to worry about your bets notbeing accepted.

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An Introduction To Betfair

As I said earlier, Betfair is undoubtedly the largest off allbetting exchanges. I place all my bets here. All my bets getaccepted, as there is a vast amount of money and userspresent at Betfair.

Head on over to http://www.betfair.com

You will see a screen looking like this:

When signing up with Betfair, enter the following refer andearn code: G37PHUCPT

This will provide you with a free 20 once you have reached100 Betfair points.

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Understanding Betfair

Before the system is explained, its vital you have a basicknowledge of Betfair first.

Encircled with a back block is Join Now. In order to starttrading with Betfair, click Join Now and follow the steps.

On the left you will see the markets (encircled with a greenblock). The markets include all the sports available forbetting. We will be focusing primarily on the Horse Racing Todays Card market (which is selected in the screenshot).

To make sure Betfair is correctly configured, click Options(encircled with a blue block), and make sure all the checkboxes are ticked.

The refresh button which is encircled with a grey block willrefresh the odds on the specific event.

The back and lay columns are clearly visible. Focus primarily

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on the red and blue columns. The odds in these columns arethe current best odds for the specific event. The odds in thewhite columns are still waiting in the queue and waiting tobe matched.

To place a back or lay bet you will need to click on theappropriate block.

Refer to the yellow square. You will see that backing thishorse could give me a profit of 17.50 from a 50 stake.

Refer to the orange square. You will see that laying thishorse could win me the backers stake of 50, the sameamount as what I am staking. My liability is 19, which is

the money I stand to lose.

The submit button at the bottom right will place the bets.

For a further guide to how Betfair works and the layout,head on over to http://www.bfguide.com/ andhttp://help.betfair.com to familiarize yourself further.

Dont forget to use the refer and earn code mentioned onpage 7. This will provide you with a free 20.

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Overview Of The Odds

Odds play a vital role in any aspect of betting. They basicallydetermine how much you will win or lose. Odds can be determinedby a few factors: form, skill, advantage and sometimes generalopinion. We should spend some time looking at the basic issues.

Lets take a soccer match as an example. Germany vs. Brazil.

The odds are as follows:Germany: 1.4

Brazil: 2.4

By looking at the odds you can identify some factors:

Who is the favorite? In this case Germany because they have thelowest odds.Who has the better chance of winning? In this case Germany.Who has the better chance of losing? In this case Brazil becausethey have the highest odds.

Odds can be displayed in one of 2 ways:

Decimal Odds

Decimal odds are expressed in decimal terms (like the exampleabove). They are used with betting exchanges including Betfair.They range from 1.01 to 1000.

Lets take the same example as above, Germany vs. Brazil.

If Brazils odds were 20.00, obviously they have an extremely lowchance of winning. If you had to back this selection, your payout

will be large. Say you placed 10 on Brazil. That would be 10 X20.00 = 200 pounds. You would be making 190 profit. You arerisking a little to win a lot. In that same way you could lay theselection. If Brazil wins, you would have to pay out the liability of190. Here, you are risking a lot to win a little.

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Fractional Odds

These odds are primarily used by U.K. bookmakers. They areexpressed as 5/4, 3/2, 7/2 etc. I wont go too in depth withexplaining these odds as our main focus is decimal odds.

Here is an example:

5/4

5 divided by 4 + 1 = 2.25

The 1 is always added.

To compare decimal odds and fractional odds as well as the otherway around you can visit Belfairs conversion table:http://www.betfair.com/betting/OddsConversion.do?locale

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Introduction To The System

To implement this system effectively, we will be using aprogram called Microsoft Excel. Excel is designed to createspreadsheets (enabling a user to lay out financial/other dataon the screen). Microsoft Excel will be performing ourcalculations for us, and in the end, select the best horse tolay against.

Excel is bundled with Microsoft Office. If you do not haveMicrosoft Office, you can download a free trial here:http://www.microsoft.com/office/editions/prodinfo/standardtrial.mspx

Other Options

If you do not wish to use Microsoft Excel, you may want totry OpenOffice Calc, which is a lot similar to excel andcompatible with its format. This program is distributed asfreeware and is bundled with the OpenOffice suite.Download your free copy here:http://download.openoffice.org/index.html

-------------------------------------------------------------------To download the spreadsheet please click here:

http://www.laygenius.com/laygeniusdownload93820/spreadsheet/spreadsheet.xls

You must open this file in Excel or StarOffice Calc, then fill in

the required values. It will then calculate the horse which is

least likely to win. I will get back to this concept once wehave covered the next chapter.-------------------------------------------------------------------

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Gathering The Resources

Here I will teach you where and how to acquire theinformation required to implement the system correctly.

We will be using a website named The Racing Post to acquireall our information.

Head on over to http://www.racingpost.co.uk

Click Main Site (located at top right). You will be taken to

the main area of the site.

You will need to sign up on this site to access all theinformation. Registration is free.

Once you have signed up, we will be making use of theCards system. See the left hand column click on yourpreferred card then the relevant date.

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The following is based on the red numbers displayed on theabove image:

1.You will see the race type. Here, a class 3 for 4 year oldhorses. On the same line you will see the amount of

money the winner will take, here 4,765.52.2.You will see the distance and the condition of the

grounds. Here, 6 furlongs with the ground conditionbeing soft. I will get back to what the conditions meanlater.

3.This column displays the horses name.4.This column displays the recent form of the horses.

Looking at Aliceinwonderland, you will see it hascome sixth, fifth, third and second in its last 4 races. It

came second in its most recent race.5.The number to the right of the horses name is the

amount of days since it last ran.6.This column displays the name of the person who

trained the horse.7.This column displays the horses jockey.8.The RPR column is the Racing Post Rating of the horse.9.The betting forecast is a rough indication of what

Racing Post thinks the price of each horse will be.

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10. The spotlight verdict shows which horse has thebest chance of winning. This is called a tipster service.

Letters next to the horses name:P Pulled upF FellU Unseated

Ground conditions:Good The ground hasnt experienced much rain, and theracing conditions are perfect.

Heavy There has been heavy rain and the racingconditions are very poor.Soft There has been some rain, the ground will be soft.

Firm There hasnt been rain for days. The ground ispossibly cracked, worsening racing conditions.

Below this card you will find even more information

Here the Postdata tab is displayed.

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Here the Selections tab is displayed. It displays the horsesname that each tipster has chosen.

-------------------------------------------------------------------

By now you would have noticed that The Racing Postsupplies effective information to help us select the horse

which is most likely to lose. Please take some time toexplore the site, and become familiar with it.

Remember that horses always race against other horses that

are in the same league as them.

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Implementing the System

Make sure you have downloaded the spreadsheet that ismentioned on page 10.

Open the spreadsheet in Microsoft Office or OpenOffice Calc(or another program you may prefer).

You will see the different pages (steps) at the bottom. Wewill start with the first page working our way to the lastpage.

You may want to look at the next chapter before startinghere, as it shows examples of what Im going to show you in

this chapter.

Step 1

You should be on the first page. Copy all the horsesnames into the Horses Name. Copy all the laying

odds into the Lay Odd table. The best horses to usewill automatically be selected. Remember if a horsesodds are something like 1.5 there is a 90% chance itwill win. Avoid races with these horses.

Step 2

Go to page 2/step 2. In the Lay Odd table you shouldsee red or/and purple highlighting. The purple

represents you losing a larger amount of money if thehorse wins than the red. This is to give you anindication of what you could lose.

Make sure you have The Racing Post website open, andviewing the race you are using. You will be usinginformation off this site in this step and the next.

For each of the horses with a purple or red lay columnhighlight, you must do the following (If there is no

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purple or red highlighting this tells you that the oddsare too high to bet on.)

You must enter the following in the factor columns on thespreadsheet:

Factor 1: enter a 5 if the horse and/or jockey is veryaverage. Give this step special consideration. To seestatistics on the jockey and trainer, click on theirnames. Make your decision from these statistics bycomparing them to the other horses. If you notice that

both the trainer and jockey are reasonably good, entera 0 instead.

Factor 2: Look at the recent form column. If the horsehas never raced before, enter a 7. If the horse has onlyraced once, enter a 5. If none of this applies, enter a 0.

Factor 3: Look at the spotlight verdict section. If thehorse has a bad/negative review enter a 5. If not entera 0.

Factor 4: If the horse has not run for 90 days or more,enter a 5. If the horse has not run for 150 days ormore, enter a 7. If this step doesnt apply, enter a 0.

Factor 5: Look at the Postdata tab. If there are 3 ormore horses with the same recent form and ability,enter a 5. If only two horses, enter a 2. If this stepdoesnt apply enter a 0.

Factor 6: Still looking at the Postdata tab If thehorses RPR rating is less than 50, enter an 8. If less

than 80, enter 2. If this step doesnt apply enter 0.

Factor 7: Enter 3 if there are more than 13 runners inthe race. If more than 10 runners enter a 2. If lessthan 9, enter 0.

Step 3

On the second last page will be the horses name,followed by the chance of it losing (expressed in

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percentage). All you have to do is select the worsthorse from here and lay it.

Step 4

The graph displayed on this page will give you a clearindication of the chance your horse has of losingcompared to other horses.

If the best horse has less than a 50% chance of losing, this

may not be a good race to bet on. I would advise usinganother race which fits the perfect criteria of this system.

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Examples

Step 1:

Step 2:

Step 3:

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Essential Websites

http://www.betfair.comThe recommended site for trading.

http://help.betfair.comAn overview of how Betfair works.

http://www.racingpost.co.ukOur resource site.

http://www.betfair.com/betting/OddsConversion.do?localeThe odds conversation table.

http://www.bfguide.com/A very good Betfair guide. If you a beginner I recommendthis.

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End Notes

It is important for all gamblers to only trade with moneythey can afford to lose.

Remember that no trading system can guarantee 100%

winnings. There will always come a time when you will lose,but in the long run your winnings will cover your losses.

Always bet to lose 10-15% of your bank. That way it will be

easy to make back from what you could have lost. You may

notice that its extremely hard to profit from a 50 bank (orless). I would recommend AT LEAST 100. Remember thatin order to earn an income laying horses, you will need alarge bank. Its impossible to make a lot of money from asmall bank (you could, however, slowly build your bank upover time).

Keep a record of all your bets (use a spreadsheet).This way you will be able to see where you went wrong and

see what mistakes you made etc. This will prevent you frommaking the same mistake twice.

Paper trade for the first few days of using this system. Thisway you wont have to risk your money during the processof getting to know and understanding the system.

This concludes the system. Good luck!

http://www.laygenius.com/laygeniusdownload93820/spreadsheet/BetTracker.xls