Betting Banks: Why You Need One for Backing And Another For Laying
March 4, 2021 by Jonathan
Filed under Recent Articles
This betting bank should be a pot of money that is completely separate from your day-to-day living expenses, wages and any savings you have in a bank account.
This will allow you to bet objectively, and more importantly stop you having an emotional reaction to any series of good or bad results you encounter along the way.
Setting up a dedicated betting bank is considered standard practice for the more discerning punter, however in this article we are going to expand on this topic by discussing the benefits of using more than one betting bank.
In fact, this is the best way to monitor the profit and loss generated using betting systems and tipsters. Here at false favourites blog we use two main betting banks, one for backing horses and the other for laying horses. Both these accounts are with Betfair.
There are several advantages of arranging  betting banks in this way, including;
- Back and lay bets s are completely separate and therefore profit and loss is much easier to define /separate.
- Pattern recognition – once you have a decent amount of betting data. You can download your profit and loss figures from each betting bank into an Excel spreadsheet for further investigation.
Doing this will allow you to see clearly which type of bets or profitable and which are not. Each spread sheet clearly shows racecourse, race distance, race type, horse name, odds etc.
Betfair allow users to have more than one betting bank although there are a few rules that you need to follow in order to set this up.
Rule one
You must fund each Betfair account using a different credit/ debit, card or bank account. Most people have more than one bank account these days. So in general this is not a problem, but make sure to watch this video for clarification… on the quickest Way To Fund & Withdraw Cash From Your Betfair Account.
Rule two
You can only initially withdraw the same amount as you originally funded your account with, refer to Betfair account rules for more details regarding this.
The video below shows you how to manage your Betfair account efficiently. Within ‘My Account’ you can fund, withdraw, view betting history and current bets, see your account statement, set deposit limits etc.
Click here to watch more Betfair tutorials and videos. Our aim is to help you fully understand the dynamics of how the World’s largest betting exchange really works.
Rule three
When placing bets and checking account balances for each betting account you have two choices
Log-in to your Betfair accounts using two different Internet browsers – Fire-fox and Internet Explorer.
This is a good option for checking balances and placing back and lay bets simultaneously. (Recommended) – as this allows you to view the racing markets, place and amend bets at the same time.
Log-in and out using the same browser.
Not recommended, if you use one account for placing back bets and another exclusively for lay bets, as you cannot place bets simultaneously, trade or bet on races in the other account without first logging out. This can become a real issue.
For example, if you notice a horse you laid early in the day has drifted out significantly, (trading opportunity). But its only 2 minutes before the start of the race and you are logged in to your other Betfair account. Do you have time to log into your other account, work out the associated maths, and place the corresponding back bet? Most definitely not!
Rule four
Don’t under fund your betting bank. We strongly recommend you divide your laying bank into at least 100 points
Let’s say you decide to put £1000 in your lay betting bank 1000/100= 10 therefore, each point should be £10. However, this initial calculation does not take into account the liability on each lay bet.
So we need to calculate our maximum lay odds to give us the actual figure we can set each bet at.
You`ll also find our article on how to calculate losing runs relevant as well.
If you have a maximum price at which you`ll lay, its a good idea to set your liability to a manageable figure. You can base a fixed liability around the stakes you’ve allocated in your betting bank.
For example if your maximum lay odds are 4.00 and you want to risk no more than £10 per lay, simply click the liability link on your bet slip, type in 10 and hit OK.
Betting this way can help keep loses to a minimum and won`t leave you overexposed on any single bet. Obviously with laying you need to have a decent strike rate to compensate for the losing bets.
In fact…
laying to maximum liability has shown to not only reduce the overall risk but it does not significantly reduce the bankroll growth. The only problem is that you have to be able to bet to a minimum stake of £2 on Betfair.
This means that if you have a maximum liability of £10 and you lay at odds of 11.00 (10/1) then your actual stake would not be accepted by Betfair because it would be below the £2 minimum stake requirement
In other words you would not be able to place this bet unless your maximum liability was £20. Having said this you be pleased to know we recommend you never lay anything over 4.50 anyway.
You can work out the bankroll you would need by determining the maximum odds you are prepared to lay at and the percentage of your bankroll you would be prepared to risk. If you are going to lay up to odds of 4.00 ( 3/1 ) and you only want to risk 1% of your bankroll, then…
- The minimum stake on Betfair is £2.
- £2 at odds of 4.00 is a risk of £6 maximum per bet.
- If £6 is 1% of your bankroll then your bankroll needs to be £600.
You can use this method to calculate the minimum bankroll that you need in order to be able to lay bet to a fixed liability.
There is absolutely no need to use any complicated maths formula when placing your lay bets, instead simply use the liability function on the Betfair bet slip.
To do this, input your maximum lay odds, click on Your liability, enter your maximum liability and hit the okay button. This will automatically work out the stake for you.
Click on the image to enlarge. Please note the image below is to illustrate the point, we did not lay this horse
As the odds go down the stakes go up. Here’s a guide to help you set your stakes. The odds are based around using £10 stakes per lay. obviously you can use any stake size you like and calculate other odds, however it’s important at all times to divide your betting bank by 100 points to give you the figure in which you should set each stake, initially.
- Lay @ 4.00 – set your stake to £3.33. Liability = £10.00
- Lay @ 3.50 – set your stake to £3.8o. Liability = £10.00
- Lay @ 3.00 – set your stake to £4.75. Liability = £10.00
- Lay @ 2.50 – set your stake to £6.67. Liability = £10.00
- Lay @ 2.00 – set your stake to £9.50 Liability = £10.00
Members of the false favourites betting club have access to five exclusive lay staking plans, all of which are designed to reduce liability to a very manageable amount when laying horses.
The lay tips we give out to members of the false favourites club average between 4.0 -4.5 maximum on the betting exchanges. Therefore we know before betting commences that on average the maximum liability our members are exposed to on each bet is no more than 4.50, and often lower.
To illustrate the point lets look at some of the lay selections, we have advised so far in January 2013
Advised Lay bets January 2013
10.1.2013
Catterick 2.45 Lay – Sea Lord @ 2.3 -successful lay
9.1.2013
13.40 Doncaster SOUNDAIN lay @ -4.00- successful lay
8.1.2013
13:55 Chepstow Loftammedeglorie lay – @ 2.7 -3 successful lay
7.1.2013
NO TIPS
6.1.2013
NO TIPS
5.1.2013
WINCANTON 2.05 Lay – GEVEREY CHAMBERTIN @ 2.3– unsuccessful lay
SANDOWN 3.00 Lay IF YOULETMEFINISH @ 4.2– successful lay
3.1.2013
no lay tips
2.1.2013
Ayre 1.50
lay Talkin Sence @ 3.8 to 4.2 successful lay
1.1.2013
Catherick 13.45
Lay Flora`s Pride @ 4.5 or below – successful lay
Exeter 15.15
Lay Global warming @ 4.5 or below -successful lay
31.12.2012
Uttoxeter 1.10
Lay Jeanry @ 4.30Â -successful lay
2.55 Doncaster
Lay Triptico @ 4.00 – successful lay
28.12.2012
14:40 Leicester
Lay Ballywatt@3,4 -successful lay
27.12.2012
13:30 KemptonLay One Lucky Lady@ 4,00 or below – successful lay
15:25 Wetheby
lay Seymoure Eric@ 3,55 – NON RUNNER
26.12.2012
13:10 Ffos Llas
Lay Kudasasi @3,35 -successful lay
15:45 Kempton
Lay Katkeau@3,80 -successful lay
Join the false favourites members club today and we`ll give you a free copy of the race specialist lay betting system R.R.P (26.99) , absolutely free. You’ll be pleased to know that unlike other betting advisory services ours is very affordable at just 24 pence a day.
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