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been asked this a number of times, i just say i buy and sell bets on a betting exchange i either buy high or low and sell at the opposite side low or high, yes it is a form of gambling as i am gambling as to which way the odds will move, i tell them you back a horse to win or lay it to lose, i will say back a horse for £40 at 5.0 and then look to lay it at 4.8 or lower for the same money, this they understand ie 4 x £50 = £200 and 3.8 x £50 =£190 which is effectively a free bet of £10 if it wins or £0 if it lost, i then try and tell them that by laying at the current odds will "green up" ie create a no lose situation, which at the odds above say 4.8 = £2.08... the cries of its not worth it is usually the reply, to which i say what if you repeat this 1 or 2 more times its then £4 or £6, do this for all races assuming no losses... and it all adds up, likewise if i back or lay and the odds go against me i can get out for a small loss, but re-enter the market to see if i can get it back to £0.
my brother in-lay plays the horses every day, yankees, lucky 15's placepots more often than not he has a few winners, doubles, and the occasional rare 4 timer, this is how i used to bet yankees/trixies etc, with last one being about 1 and 1/2 years ago due to having no internet, i can safely say i have made more trading than i ever did doing fun bets.
my brother in-lay plays the horses every day, yankees, lucky 15's placepots more often than not he has a few winners, doubles, and the occasional rare 4 timer, this is how i used to bet yankees/trixies etc, with last one being about 1 and 1/2 years ago due to having no internet, i can safely say i have made more trading than i ever did doing fun bets.
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