Merlin
2nd November 2005, 06:45
Excuse this waffle of mine, this isnt definitive waffle, and can be taken with a pinch of salt really, but for anyone new to betting and particularly laying (including myself) some of it maybe useful
PLEASE NOTE these thoughts are merely observations and are not backed up by research
An Approach to laying
It seems rather odd, but most people when laying think that they have become poacher turned gamekeeper. This fallacious position is compounded by the camaraderie on betting exchanges between layers and punters. It is this us versus them mentality (punter versus bookmaker) which I will call fallacy number 1, that has to be eliminated.
The first thing to do in order to have at least a fighting chance of laying success is to exorcise this demon. This is a damn sight easier for new players to grasp, because in the old days there was the physical presence of bookie or betting shop and punter. A cyber spirit has replaced the physical presence.
Lets clarify the perception of a bookmaker, further; lets attempt a definition.
BOOKMAKER
A physical entity that enters into a promise to pay agreement with another physical entity regarding the correct prediction of a future event.
Lets clarify the perception of a punter, and attempt another definition.
PUNTER
A physical entity that enters into a promise to pay agreement with another physical entity regarding the correct prediction of a future event.
It is clear that bookmaker and punter are not two at all, but one. They are not even inseparable, because this would imply two. If you accept this, you must also accept that the betting exchange is the following.
BETTING EXCHANGE
A cyber spirit which acts as guardian to the physical entities who enter into a promise to pay agreement regarding the correct prediction of a future event.
If you follow my drift, you will never, ever again refer to yourself as either a bookie or a punter this is the starting point.
Of course, the above notes refer to the desired mentality of the layer. It is Unfortunate that we have no choice but to revert to words as our main descriptive tool, sometimes words are so inadequate in conveying concepts and thoughts but it is our lot, and we are stuck with it.
One of the most obvious, but nevertheless incredibly important things about laying is that almost all of the time you will be in effect betting odds-on. Further, it follows that most of the time the layer is the favorite to collect.
In order to get my point across here, I ask you to consider the times that you have bet horses to win. The average punter wouldnt bet a horse to win at odds-on, and there are many reasons for this , some of which are, no value, not a working mans price, its a contradiction to wager more than you can win.
All of the above are invalid arguments take my word for it
If you do bet at odds-on you will be wanting more things in your favour. In actual fact its imperative, you must have a higher success rate, or you will lose money and ultimately fail.
Thats enough waffle for now, next post will follow on from this, and cover trying to maximize your chance of laying success by ensuring that your odds-on bet is value, is a working mans price and thats its not a contradiction to receive less winnings than your wager/stake.
An Approach to laying
It seems rather odd, but most people when laying think that they have become poacher turned gamekeeper. This fallacious position is compounded by the camaraderie on betting exchanges between layers and punters. It is this us versus them mentality (punter versus bookmaker) which I will call fallacy number 1, that has to be eliminated.
The first thing to do in order to have at least a fighting chance of laying success is to exorcise this demon. This is a damn sight easier for new players to grasp, because in the old days there was the physical presence of bookie or betting shop and punter. A cyber spirit has replaced the physical presence.
Lets clarify the perception of a bookmaker, further; lets attempt a definition.
BOOKMAKER
A physical entity that enters into a promise to pay agreement with another physical entity regarding the correct prediction of a future event.
Lets clarify the perception of a punter, and attempt another definition.
PUNTER
A physical entity that enters into a promise to pay agreement with another physical entity regarding the correct prediction of a future event.
It is clear that bookmaker and punter are not two at all, but one. They are not even inseparable, because this would imply two. If you accept this, you must also accept that the betting exchange is the following.
BETTING EXCHANGE
A cyber spirit which acts as guardian to the physical entities who enter into a promise to pay agreement regarding the correct prediction of a future event.
If you follow my drift, you will never, ever again refer to yourself as either a bookie or a punter this is the starting point.
Of course, the above notes refer to the desired mentality of the layer. It is Unfortunate that we have no choice but to revert to words as our main descriptive tool, sometimes words are so inadequate in conveying concepts and thoughts but it is our lot, and we are stuck with it.
One of the most obvious, but nevertheless incredibly important things about laying is that almost all of the time you will be in effect betting odds-on. Further, it follows that most of the time the layer is the favorite to collect.
In order to get my point across here, I ask you to consider the times that you have bet horses to win. The average punter wouldnt bet a horse to win at odds-on, and there are many reasons for this , some of which are, no value, not a working mans price, its a contradiction to wager more than you can win.
All of the above are invalid arguments take my word for it
If you do bet at odds-on you will be wanting more things in your favour. In actual fact its imperative, you must have a higher success rate, or you will lose money and ultimately fail.
Thats enough waffle for now, next post will follow on from this, and cover trying to maximize your chance of laying success by ensuring that your odds-on bet is value, is a working mans price and thats its not a contradiction to receive less winnings than your wager/stake.