As the name suggests, Lay Profits is a lay betting tipster service. It is based around horse racing and presents a number of very interesting propositions.
Introduction to Lay Profits
Lay betting is an interesting subject for me in so much as
I believe there to be more approaches than there is with straight backing to win. I have looked at a lot of lay betting tipster services in my time and the truth of the matter is this. I am still no closer to figuring out what is the right approach and what is the wrong approach.
The team behind Lay Profits seem to believe that they are on to a proper winner . They even go as far as to claim that they were restricted through Bet365’s not to win markets. This led them to Betfair, betting exchanges and ultimately, Lay Profits .
What Does Lay Profits Offer?
Ultimately, Lay Profits is a tipster service, albeit one which is referred to as having an “investment approach to sports trading”. This all sounds well and good, however the proof is very much in the proverbial pudding, something that I want to explore later on. In terms of what you are getting, Lay Profits is a bit different to your usual daily tipster service.
This is in no small part down to the logistics. Each morning (typically between 7am and 10am) you are emailed to confirm that selections have been uploaded. You then have to log into the Lay Profits website in order to view them. The reasoning for this appears to be that the team offer a CSV file which can be downloaded for use with a betting bot.
In terms of the bets themselves, it probably goes without saying that they are exclusively lay bets. Whilst the Lay Profits team make mention of Betfair, it seems plausible that you could place them with another exchange, however liquidity may be an issue. It is worth keeping in mind that this is a pretty high volume service with about 10 bets each day meeting the right odds. The qualifying odds as advised by the Lay Profits team are between 5.0 and 9.8 however this was recently updated from 5.01 to 11.0.
There is a staking plan in place for Lay Profits and it is one that appears to favour compounding. It is recommended that you start with an initial betting bank of 100 points. Using this as a starting point, you should then look to stake 2% of your betting bank on each bet. Whilst the initial bank growth may not be substantial, it is easy to see how this can increases profit substantially over 12 months.
In terms of the strike rate, I don’t think that it is unreasonable to expect a high number from a lay betting service. After all, winning often is at the core of any lay betting. There are no published claims for Lay Profits which is somewhat disappointing. It is worth noting however that over May, Lay Profits had a strike rate of just over 88% which represents a strong result.
How Does Lay Profits Work?
It is rather frustrating that we are not told what the selection process for Lay Profits entails. It is apparent that there is an odds component however this is unlikely to be everything. One thing which is interesting to note is that aside from the very recent change in the range of odds, Lay Profits has also undergone a substantial reworking.
The Lay Profits service initially launched in October, however following a string of bad results, it was taken off market, adjusted and relaunched.
I would like to point out that I don’t see anything wrong with Lay Profits doing this. They kept the old results as part of their proofing which means that you can clearly see that this has happened, so it’s not like they’re trying to hide anything. What I do believe is that there should at least be some explanation of changes as otherwise, there is little to indicate at this early point that Lay Profits will perform any differently in the long term.
What is the Initial Investment?
There is only one option if you want to subscribe to Lay Profits. This is a monthly subscription which is priced at £24.75. Payment for the service is handled directly via Paypal and there is no mention of any money back guarantee. This is generally typical for tipster services however and as such, I can’t really hold this against Lay Profits as a product.
What is the Rate of Return?
Lay Profits aims to make a profit of between 20 and 30 points per month. This is definitely attainable and is would represent incredible consistency. Whilst this kind of number has been achieved historically, the results have been somewhat uninspiring with May bringing home a profit of just 0.2 points.
Here are what Lay Profits claim as to their yearly results:
This would effectively mean a loss for Lay Profits when factor in subscription costs. June is looking slightly more promising at 7.3 points at the time of writing, however this offers no guarantee for future growth.
Conclusion on Lay Profits
I actually have quite a lot of respect for the team behind Lay Profits. Where mistakes have been made, they have not just reported this but actively gone to lengths to try and correct it. I know of a lot of slightly more questionable services which would have simply closed down, relaunched under a new name and tried again.
This also tells me that Lay Profits is a long term project and this bodes well for the future as far as I am concerned. With this in mind, I am not to keen to penalise the service on the immediate results as I genuinely believe that there can be a turn around.
There is a lot that ties into the above point and one of the key aspects her is the value for money that is available. The aim is to bring in between 20 and 30 points. Even at the bottom end of this scale, £10 stakes would produce a respectable profit of £175 per month factoring in subs. Of course these results are also scalable so in theory, the sky is the limit.
Factor in the fact that Lay Profits can essentially be programmed into a bot with almost no effort and you have a source of income which may as well be passive.
Now don’t get me wrong, it isn’t all brilliant. I have said a number of times before now that I find the liability side of lay betting to be somewhat problematic if it isn’t well managed. Now given the range of odds that Lay Profits deals with, it seems inevitable to me that at some point there will be losses and they will eat into winnings. Of course this risk is present in anything lay betting and whether or not you are willing to take it on is mostly a question of preference.
For my money, I think that there is a lot about Lay Profits that is good. The results are not necessarily mind blowing, but then access is only £25 per month (with change) and you don’t exactly have to do a lot with it. All of this combined with the clear drive that the Lay Profits team have makes this one that worth some pretty serious consideration in my book.