So the other day, I'm chatting to a mate of mine who is telling me about a mate of his who is earning a living sitting on his arse at home, watching telly and and being online. Now, "making a living" is a small understatement, we are talking about $2000 and more a day.
How is he doing it? He is doing whats called "Lay betting". Whats "Lay Betting" I hear you ask? Well hear me out, I know nothing about betting of any kind, I'm not a gambler, but was intrigued by this story. Apparently, there are companies out there called betting exchanges, the biggest of which is BetFair. Betfair allows you to be the Bookie by laying bets on Horse racing and pretty much any other sport you can think of.
Now placing a "Lay Bet" is effectively betting on who is going to LOSE. You can either put a Back bet, where you bet on who is going to win, or a Lay bet where you win if the horse you chose to lose, does indeed lose.
The idea is that it is much easier to pick a loser than a winner, especially in Horse racing as you base this on the odds.
I smell and new Experiment says the prof!!! I'm of to sign up with BetFair, do some reading on Lay Betting, and work this experiment, I'll post the results in a few days.
By the way if you sign up at BetFair here is a promo code (WCEK6CMHG), use it and you get £20 Free to play with after you have deposit and played your first £20
Disclaimer: I will also earn a referral fee if you use this code, so help support my experiments, by using it too, thanks!)
UPDATE: Read the Results Post here
The prof
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