If I lay a horse higher than I have backed it (and both have been matched), do I instantly make a loss no matter what or only if that horse goes on to win?
Many thanks
red query
Depends what you do. Let assume there is a five horse race with horses A, B, C, D and E.volican wrote:Hi,
If I lay a horse higher than I have backed it (and both have been matched), do I instantly make a loss no matter what or only if that horse goes on to win?
Many thanks
Back horse A @ 2 for $5 = +$5 if A wins and -$5 if A does not win.
A drifts to 6. Lay A @ 6 for $5 liability means you take in $1.
So now, if A wins your outcome is zero (you back A and won $5 and you laid A and lost $5).
If A loses your outcome is -$4. (You backed A using $5 which is a loss because it doesn't win and you collected $1 on laying A).
Alternatively A drifts to 6. Lay A @ 6 for $25 liability means you take in $5.
So now, if A wins your outcome is -$20 (you back A and won $5, you laid A for a liability of $25).
If A loses your outcome is $0. (You back A using $5 which is a loss because it doesn't win and you collected $5 on laying A).
And then you can achieve any result in between including an even red across the field (which is the recommended action in such circumstances).