Lay betting means, of course, that you are betting that your selection will LOSE the event.
But if your selection WINS then you must pay the Liability amount calculated by the software.
Your betting exchange will automatically debit your account.
OK, this is a cloud software, so nothing to download, you only need the website to the software, and your username and password.
Login Page:
Once you login you arrive at the home page.
On this page you have two options.
1. Start a new session (3), it which case you set the setting for the new session you want to create once set you can not change them.
2. Resume Active Session (10). You can if you wish to continue a prevous session, you can hit resume and you will be taken to that session ready to continue betting.
Let's start with the numbered steps.
Step
Description.
1
Log Out Button: You can exit the software.
2
User Guide link takes you to the manual you are reading now
3
Start a new session, if you want to start a fresh session you use the area.
4
Name: you name the session, so later you can easy identify it, when it is listed in the Current session area.
5
Initial Capital this is the bank amount that the session will use.
6
Commission: If using exchanges like Betfair
7
Apply Ratchet: the Current Bank is updated with profits and losses day-by-day. All bets are calculated from the Current Bank balance at the start of a new session.
8
Current Bank: As it stands now after taking into account profits and losses.
9
Submit: will take you to the new session you have just created.
10
Resume Active Session: This displays all the session you currently are using.
Inside a Session. If you click resume on one of the sessions you have active you see this screen below.
Label:
Description:
1
Home: Takes you back to the main screen.
2
Reset: Clears this session for a fresh start.
3
Export: Downloads the session bets into a csv file.
4
Help: Takes you to this page the user guide.
5
Graph: Shows how this session is preforming
6
Summary: This shows how the session is going along with previous bets and you can continue at the bottom of the summary. (see image below).
A current session in progress.
Label:
Description:
1
Current Bank: This has profit or loss included.
2
P/L this Session: What it has made or lost.
3
ROI%: Is the difference between previous race and the current result.
4
Tab: This is an auto fill showing how many bets have been placed in the session.
5
Name or Details: Record the bet details so if you leave the session and return after the event you can record the result accurately.
6
Lay Price: Enter the Lay Price you have obtained.
7
Bet: This is the stake you use for the bet (auto fill).
8
Liability: This is how much you have risked on this bet should the bet lose.
9
P/L: The profit or loss on this bet.
10
Bank: Your current bank after the bet.
11
GO: Button, allows you to progress to the next line.
12
WIN: If the bet is successful hit this button and the result will be recorded.
13
LOST: If the bet loses hit this button.
OK, on our bikes, let start our very first session.
Let's keep it low key to start while you learn.
Below is the setting I suggest you start with.
Apply Ratchet?: Maria preferred to use the ratchet.
• If the Apply Ratchet option is selected (Ticked) the Current Bank is updated with profits and losses day-by-day. All bets are calculated from the Current Bank balance at the start of a new session.
• In other words, bets are increased or decreased in proportion to the Current Bank on a daily basis – not race-by-race.
• This option is suitable for those who want to use Maria-5 and lay their bets in one hit well in advance of the races, such as before going to work or during a lunch break. Maria preferred this option.
She clearly states:
This means that at the end of each day, the next day's "current bank" figure is known. 6 For example, if there's a good start and the £3,000 bank grows, then the stakes are worked out as proportion of the new higher figure, and increase slightly the next day.
This may sound insignificant but it makes a huge difference to the results.
OK, let's look at the 1st race under this new session.
You can leave a session and come back once you know the result, great if you are following football bets.
Just make sure you hit GO on the bet before returning home to continue another session or starting a new one.
Once the result is known, return to the session and fill in the result.
That is how you use this software.
It gives organisation and a clear picture of how your bets are going.
And allows you to run multiple sessions, like horses in different countries, dogs and sports.
The Settings:
The bet calculations are made according to Maria’s Staking Rules, shown as follows:
Laying is in three clearly defined price ranges.
• If the betting exchange price available is less than 3.5 (5/2) the lay stake is 1% of your betting capital.
• If the exchange price is between 3.6 and 7.4, the lay stake is 0.6% of your betting capital.
• If the exchange price is between 7.5 and 11 (don’t lay anything higher than 10/1), the lay stake is 0.4% of your betting capital.
Examples (based on a 1,000 unit bank):
Prices below 3.5: lay to 1% of bank – backer’s stake 10 (your liability under 25)
Prices from 3.6 to 7.4 inclusive: lay to 0.6% of bank – potential winnings 6 (your liability 15.60 to 38.40)
Prices from 7.5 to 11 inclusive: lay to 0.4% of bank – potential winnings 4 (your liability 26 to 44).
The smaller your starting bank the smaller your initial winnings.
But as your betting capital grows, you will stake and win more whilst staying within the rules.
NB: Under the rules, anything above 11.00 [10/1] is left alone. Why? Think “Liability…”
Tools..
OK, what else may help is our Easy Bet Bot Deluxe.
I strongly recommend Easy Bet Bot deluxe.
Why?
You can bet under the betfair minimum (important on the 3rd to 6th horses)
There are 10 Worktabs (sessions) you can individually setup for different betting areas, like Australian horse racing, Football, Greyhounds etc.
Setting up and worktab.
Step
Description.
1
Initial Capital this is the bank amount that the session will use.
2
Commission: What the average is for the exchange.
3
Apply Ratchet: the Current Bank is updated with profits and losses day-by-day. All bets are calculated from the Current Bank balance at the start of a new session.
"YES" = That the bank is adjusted at the start of each betting day, during the day it does not increase. Only at the start of a new day.
"NO" the Bets are increased or decreased according to the Current Bank. If betting race to race or event to event.
If you are placing multiple bets at once before result is know the bets will all be at the current bank. once results are recorded then the next bets will increase or decrease to the new current bank.
4
Current Bank: As it stands now after taking into account profits and losses.
5
Name: Title to identify the Worksheet like " Australia Horses "
1. Add 10 rows gives you more rows to continue entering more races.
2. Takes you to the user guide.
3. Reset clears the worksheet but leaves the settings.
4. Current Bank: This is the figure NO Ratchet is basing its staking on.
5. The Profit or Loss for this worktab
6. Return on The bank as a percentage.
7. Tab: Auto fill bet numbers
8. Name or Detail: so you can identify bet when you come back to record results.
9. Lay price: This is the odds you have placed the bet on.(Auto Fill).
10: Bet: Amount you are staking on the race. (Auto fill)
11. Liability: Should the bet lose, this is the amount you will lose from your account. (Auto Fill)
12. P/L : The profit or loss for the bet. (Auto Fill).
13: Bank: This is the Current Bank figure. (Auto Fill)
14. Win/Loss: You enter (dropdown menu) W = bet was a winner. L= bet was a losing bet.