When we trade odds movements, we need to Bet First if we anticipate a falling market, but Lay First if we anticipate a rising market.

If we are looking to equalize our trade for an equal profit or loss whatever the outcome of the event, this video demonstrates the advantage of a Bet First trade, rather than a Lay First trade.

There are 3 advantages that a Bet First hedge in a falling market has over a Lay First hedge in a rising market.

• Our liability is limited to our bet stake.
• Our profit can be multiples of our bet stake.
• The profit per tick if the odds move in our favour is bigger than the loss per tick if the odds move against us.

The opposite applies if we Lay First in a rising market. There are 3 disadvantages.

• Our liability can be multiples of our lay stake.
• Our profit cannot be more than our single lay stake.
• The profit per tick if the odds move in our favour is smaller than the loss per tick if the odds move against us.

This demonstration video uses a Hedge Several Bets spreadsheet