If you’ve ever gambled on a few horses, then at some point I’m sure you will have experienced the agony of your bet failing at the final hurdle. Your horse might be two lengths clear and you find yourself mentally counting the winnings, only for it to hit the last fence or run out of gas completely. You go from elation to defeat in a matter of seconds.

Is there anything you can do about it?

One popular option is to leave a lay bet in running on your horse via Betfair. For example, if you back a horse at 11.0 pre race, you might take some solace having your stake returned if the horse trades as low as 1.50 but doesn’t win.

Easy peasy right?

Unfortunately, like most things in life, it’s not that simple. The fact is that a horse going 1.50 or below in running on Betfair is more likely to win than it is to lose. If you simply hedge every horse you bet on by laying it on Betfair at around 1.50, you might find you are simply knocking off 0.5 points from all of your winners, which in the long run will cost your money not save it.

So when it comes to knowing when to hedge your bets on Betfair, there’s no substitute for doing your research. Continue reading →