Originally Posted by The Ocho

When you stop and think about it, lay betting is a bit silly.

In my lay bookie scenario with a 200/1 horse you would have to give the bookie $200 and if the horse doesn't win the race you get back your own $200 plus $1 from the bookie. If the horse wins the race then the bookie keeps your 200 clams.

And yet a lot of us lay bet on the exchange. It just seems funny when you look at it like that.

Originally Posted by evajb001

I've tried explaining it to mates and they can't comprehend that you get so little back for the perceived risk you take on. However its all about the %'s and you have to remember that the 200/1 horse isn't it expected to win 1 in 5 races, not even 1 in 50 races. So while the returns seem poor for that 'perceived risk' in reality its just a mentality thing of understanding the numbers and understanding the actual risk.