There are three types of lays: over-lays, under-lays and even-lays. An over-lay is when you the player feel that the horse that has been evaluated using your handicapping and profitcapping has a higher chance of winning than the public thinks and feels it does. An under-lay is when you think or feel the horse has less chances of winning than the public does. An even-lay is when you and the public equally agree on a horse’s chances of winning. A bona fide over-lay is where potential profit can be made and so at every chance seek out over-lays for money value. An even-lay is second best because it has more profit potential than an under-lay.
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