Before we can talk about using the selections, we had better clear up exactly what laying actually is. Have a look at the Laying Basics page and then come back to see about using the Lay picks.

The Diary Lays are run on a very different method, click here to find out how the Diary selections are used.

The lay picks selections we publish each day are those we will be following as well. How they are used is a matter for all of us to decide individually. They are not a list to be followed blindly from start to finish, because we don’t. By that we mean that if there is some dramatic change of circumstance or something that affects the race then like anyone else we would take the view that on a personal basis we would to sit it out. But in order to keep accurate records we set up a seperate exchange account where use every selection that falls within the limits.
For what its worth we have as much faith in the first selection as the last because we apply the same criteria to them all.

We can only tell you what we do and not what you should do, everyone is different and we all have our own levels of acceptable risk.
As it happens, we are not keen on risking the family fortune so you may find our attitude a shade cautious.

Our first port of call when deciding if we are going to lay a selection is price. The higher the price, the higher the risk of losing big if the selection wins.

We work using 2 strategies but both have the same level of maximum exposure to risk, the difference between the 2 is the level of potential return.
The first is where the maximum price we will accept or are prepared to offer is 4. This means that if the selection does the dirty on us and wins we will have pay out a maximum of 3 times the size of our stake.

The second is to increase the price we are willing to accept or offer to 7, but reducing the value of the bet down by half.

In practice it works like this:

Example 1. A £10 lay bet at our limit of 4 will have a maximum liability of £30 and will yield £10 if it is successful.

Example 2. A £5 lay bet at our limit of 7 will also have a maximum liability of £30 but will yield only £5 if it is successful.

These rules will also mean that we will not bet on fair amount of selections each day for the simple reason that they are over our limits. This can be pretty frustrating when you see selection after selection losing and having not bet on them, but it’s a rule we have learnt by bitter experience not to break.

We are lousy at predicting where a price is going before a race. Prices go up and down right until the last breath before a race starts and we have proved ourselves to be dire at trying to get the lowest only to see it go lower.
So we take the starting price or as near as, so long as it is inside our limit. Our stakes never increase and we certainly never try to claw back losses by increasing stakes.

In the event that things go well and we see the first successful lay lose we have a couple of methods on what to do next.

The first is to take the money and run. Why risk anymore cash when the money is in the Bank and you can sit back and enjoy the rest of the day, safe in the knowledge that a profit has been bagged.

The second is to pocket the profit and use the stake again for the next lay, happy in the knowledge that the bet is in for free. If this is also successful then we pocket half of that profit and run the rest, but never going over the initial stake limit. That way we have our profit and a chance to add to it at no risk.

In the event that things don’t well on the first lay, it is decision time on whether to carry on for the rest of the day. We must admit that walking away after an early bruising is not something we often do. This is not down to the need to claw back the loss but is more down to the fact that over a day the chances are that the loss will be made good and at worst we will end up where we started.

We fully accept that there are days when the business of laying just works against you. The reason we are so rigid in our method is that it will make sure that damage done on such days is limited and we live to fight another day.

So to recap:

• We never pay over 4 for a normal stake or 7 for a half stake.
• We place the lay bet in the last few minutes before the start or take the starting price, so long as it is under the limits.
• If a profit is made we could very well take the money and run.
• Assuming a profit on the first lay bet, we bag it and plod on using the original stake.
• If we lose first time around, chances are we carry on until we are in profit and then call it a day.
• DON’T PANIC!